WASHINGTON – The number of companies that have been dismantled as a result of questionable board policies are a `who’s who’ list in the corporate world: WorldCom, Enron, Tyco and Quest. Many experts have called for increasing regulation as the solution to better governance, and while measures such as the Sarbanes-Oxley Act of 2002 are helpful, they are not sufficient, Callahan & Associates, Inc. reported. What may be needed is some new thinking about how corporate boards should function and be evaluated. This is true for credit union boards as well, as the corporate governance debate in the United States is spreading from for-profit organizations to the nonprofit organizations, Callahan said. Some legislative leaders are suggesting that the Sarbanes-Oxley Act should be applied to nonprofit boards. Increasingly, credit union boards are focusing more on representing the credit union with community leaders, recruiting new talent for the organization, functioning as a robust team, living the values, identifying required future knowledge and skill sets, conducting board evaluations, and ensuring accountability, Callahan said. Thomas Davis, an industry expert on board governance and strategic planning, will address some of the critical areas at NACUSO’s Director’s Conference in Kauai, Hawaii on Nov. 10-12. Attendees will learn about critical governance issues, discuss product development opportunities, and discover marketing, communication and branding strategies. For more details, log on to www.nacuso.org.

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