A recent Filene Research Institute survey sponsored by CUES reveals that when it comes to credit union board governance it's a work in progress that needs to be addressed today not tomorrow.

The Tracking the Relationship between Credit Union Governance and Performance survey found that while volunteer credit union boards display a broad range of competence and engagement, there are several areas ranging from time management and director evaluations, to continuing education and CEO evaluations that continue to be a challenge.

As far as credit union financial performance drivers, continuing board education and the board/CEO relationship stand out. According to the survey, the only governance practice that yielded a strong positive correlation with actual credit union ROA performance was whether boards felt they had an effective CEO evaluation in place.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.