Encouraging board diversity – in age, gender and ethnicity – hasbeen a campaign for corporate boards for years. Next month, theconcept will arrive at credit unions in the form of a voluntaryquestionnaire from the NCUA.
Credit unions will be free to ignore the questionnaire. If theydo choose to respond, the NCUA will shield their individualresponses from members or the public at large. Instead, the NCUAwill include anonymous, aggregated data in its annual reports.
The advantages of having a diverse board include being able torecruit a broader base of members and better respond to existingmembers' needs, fostering member empathy among directors, accordingto Stephanie Galligan, a research manager for the think tank FileneResearch Institute in Madison, Wis.
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.
Already have an account? Sign In Now
© 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.
