Lessons on Governance from Credit Union CEOs

Executive Summary

The purpose of this report is to explore insights learned from experiences with the board from the 13 credit union CEOs that Dr. Amy Hillman interviewed. Both current and future CEOs can gain valuable insights from the shared experiences in this report, offering fresh perspectives on navigating board relationships. Current CEOs can discover fresh approaches to board management, while aspiring CEOs can find a preview of what seasoned executives wish they had understood before assuming the position of chief executive officer.

Insights in this valuable new brief include:

• The biggest benefits credit union CEOs see in their boards
• Typical credit union board activities
• Best credit union board governance practices
• The level of a credit union's board engagement in succession planning, talent evaluation and development
• The role the board plays in a credit union's strategy

Credit Union Implications

Many times a credit union's strengths or weaknesses can be a reflection of the quality of the relationship between the CEO and the board. As with any important relationship both parties need to commit time and effort to building trust, engaging in consistent communication and fostering transparency. We invite you to take the next ten minutes to explore the different methods, successes and missteps these fellow credit union CEOs have gone through to help you guide and strengthen your board governance strategy.