Good Governance: Who’s on your board today? Tomorrow?

The State of Credit Union Governance, 2018 report finds credit unions are more certain of their current mix of directors than they are about the future composition of their boards. Here’s what this means for board renewal.

by Michael G. Daigneault, CCD and Jennie Boden, CU Management

Data from our new report, The State of CU Governance, 2018, find that the majority of credit unions feel pretty good about who’s currently on their boards—but are much less sure about the future.

Almost three-quarters of survey respondents (74 percent) of respondents report that their boards are “effective” or “very effective” at having the right mix of skills/experience to accomplish [their] governance roles and responsibilities. But remarkably, almost half of all of the survey respondents (46 percent) describe their effectiveness in “attracting the right people to serve on the board” in the future as only “adequate,” or “ineffective” or “very ineffective.”

Our experience is that your collective worries about attracting the right folks to serve on your credit union’s board are well-founded—and things may get worse before they get better!

 

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