Consultants seem to agree that governing a credit union has become more daunting. And the trend toward greater board accountability isn’t likely to go away.
Catholic Federal Credit Union, Saginaw, Mich., lost its longest serving volunteer when Donald Gallant passed away Aug. 19. Gallant served on Catholic Federal’s board of directors from Nov. 7, 1969 until his death. He served as chairman, vice-chairman, treasurer and secretary. For all of his years of volunteer service, the...
Robert Neill, vice chairman of the Christian Community Credit Union board of directors, passed away on Aug. 4 after a long battle with cancer. He leaves behind his wife, Sue, three daughters and their husbands, seven grandchildren and another grandchild due in September. He was 66 years old.
Because credit union boards are members too, they know how they’re treated as members and what they expect from their financial institution. But at the same time, they need to be more savvy than the average member about what’s happening at the credit union.
Governance questions may not get more visceral – who makes the biggest decisions at a credit union? The question is easy to ask, but for some, it can be bafflingly hard to answer.
Oregon CU's board approves 12-year limit to board service, citing the need for greater member involvement in growth.