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HONOLULU-The Enron’s and Tyco’s of the world have everyone looking harder at corporate governance and that should include credit unions, George Towle, a partner with The ProCon Group, Ltd., told attendees of CUNA’s Future Forum during a break out session. “Are there some skeletons in the credit union business?” he asked. To begin the shift from tactical, or operations-oriented, thinking to a strategic perspective, credit union boards must look at the institutions with a perspective from 5,000 feet, not 500 feet, Towle explained. “Governance is ownership one step removed. Governance is not management one step removed,” he stated. Towle emphasized, “We need to focus on results, not activities.” The board’s job is to serve as a linkage with ownership, define organizational results and means by setting parameters of management’s authority and targeted results, monitor organizational performance, and, finally, to monitor the board’s performance. Under the model developed by ProCon: *The board states in targeted results what the CEO must achieve, for which members, and at what cost; *The board also states those means which the CEO may not employ in attainment of those results; *The board states how the board will govern itself and how it will govern the CEO; *The board assures compliance by monitoring adherence to the CEO and board’s authority; and *The board enhances its role as a member advocate. [email protected]

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