Key outcomes and lessons learned from a board renewal effort

An analysis of Hudson Valley CU’s work to revise key governance processes.

by Jennie Boden and Alexander Stein, Ph.D., CU Management

Quantum Governance and Dolus Advsiors are pleased to offer the following key outcomes and lessons learned from our work with $6.1 billion Hudson Valley Credit Union in revisioning and revising their nominations process:

Key Outcomes

  1. The nominations sub-committee learned it could be nimble, coalesce around change and have a significantly increased impact on the future of the Hudson Valley CU board and supervisory committee. In the end, the members were proud of the changes they implemented and the outcome of their work. And, importantly, they served as a model on how to welcome and adapt to change for other elements of the governance system at Hudson Valley CU.
  2. There was an increased level of trust attained between members of the nominations sub-committee and the CEO—primarily through the CEO’s participation in the nominations process, but also as an extension of the still-developing constructive partnership between the board, supervisory committee and CEO/management.

 

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