What should be included in your monthly board meeting report?

Has your credit union ever wondered what must be included in a monthly board meeting report? If so, read on for some helpful tips!

While there is no comprehensive list stating what must be included, most credit unions have fairly comprehensive packets each month based on what the board needs to review that particular month (such as if certain policies are up for review, etc.)

A good starting place is the Federal Credit Union Act (FCU Act). The FCU Act outlines federal credit union board of directors powers and duties, and section 1761b specifies the business that shall occur at monthly board meetings, including:

“(15) review at each monthly meeting a list of approved or pending applications for membership received since the previous monthly meeting together with such other related information as it or the bylaws require;

 

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