Good Governance: There’s no one-size-fits-all way to lead a credit union
To define your board’s unique set of best practices, stay open-minded, make changes, set measurable goals and keep learning.
It is not lost on me that my regular access to boards and CEOs is an unusual privilege. Beyond unusual, really. And credit unions in the U.S. have been more generous than most in their willingness to allow me behind the curtain to listen to their stories, gather data and provide what advice I can. I have worked with and studied credit union boards since 2007, which has given me perspective on the many things that have changed over that time, and some important things that haven’t.
Earlier this year, the Johnston Centre at University of Toronto, Quantum Governance and CUES released a report called The State of Credit Union Governance 2020. It built on findings in a similar study from 2018 and asked a bunch of new questions to gain a better understanding of continuing and emerging governance trends in the U.S. credit union system. Our data came from Quantum’s massive database of board assessment results and a brand-new governance survey distributed to all three partners’ networks.
So, what’s on the minds of credit union directors and CEOs? Exactly what you’d expect, for the most part:
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