Enhancing Board Satisfaction at Credit Unions
The research reported here gathers data on credit union board satisfaction and on the extent of board involvement in a number of strategic and non-strategic activities.
We found the strongest correlation of satisfaction with a group of non-strategic activities that included policymaking, formal evaluations of the CEO, and close monitoring of financial soundness. Another group of activities that exhibit a high correlation with board satisfaction is strategic in nature. It includes setting long range goals, developing action plans to achieve them, and monitoring implementation. We find that a number of specific activities are strongly related to board satisfaction. However, the extent to which boards are involved in all of a group of activities shows especially strong relationships with satisfaction.