Good credit union governance: Start director onboarding pre-election

Many credit union boards think the new director onboarding process starts when new board members have been elected to serve.  But really, the key to building an effective onboarding program is not to wait for the election to take place. Just like board meetings run best when advance work is done to set them up for success, onboarding of new directors is greatly facilitated by steps boards can take before your members elect new directors.

Consider taking the following key steps before the board election:

1. Develop a matrix of your “ideal board” for achieving strategic goals. Create a skills matrix outlining the attributes and skills your board members currently have. Then, create a separate matrix showing those skills directors will need to carry your credit union successfully into the future. Be sure to do this with your strategic plan in mind.
2. Identify board composition gaps. Compare your board’s current skills matrix with the skills matrix of your future, ideal board. What weaknesses do you see in your current board?  Conduct a gap analysis. What attributes or skills are limited – or missing?

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