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.

Mimi Hull believes CEOs have a responsibility to train their boards so those boards, and likely the CEOs themselves, can be more effective. Hull is president/CEO of Hull & Associates, which provides consulting, speaking, training and facilitation services to a wide range of businesses from Fortunate 500 companies to nonprofits.

“The question a CEO must ask is, Does he or she really want an advisory board or an admiring board?” Hull said. “By that I mean, do they want the board to simply bless everything that goes on? The CEO and the board chair must determine what they want from the board. That can affect where they recruit for new board candidates.”