Jan 01 2005
Recruitment and Selection Practices at Credit Union Boards
The board of directors plays a key role in the success of a credit union. The board selects the CEO, manages the relationship with the CEO, and has ultimate authority over the credit union. Therefore the manner in which the board is developed can make a substantial difference in the performance of the credit union. Board development has several dimensions. The very first dimension is how the directors themselves come to sit on the board.
The purpose of the study reported here is to provide information on actual credit union practices determining who will be directors. In addition, the research reports opinions of CEO’s and board chairs on how well these practices work. These results provide a way for all credit unions to evaluate their practices compared to a representative sample of all credit unions.