Meeting of credit union board members.

The concept of “governance” refers to structures and processes that are designed to ensure accountability, transparency, responsiveness, rule of law, stability, equity, inclusiveness, empowerment and broad-based participation. A “volunteer” is a person who works for an organization without being compensated. The volunteer board structure is the foundation of the credit union.

Moving forward, both present and future credit union board members must have a “growth mindset” and be ready to interpret confrontation, prompt change and analyze outcomes. As the financial world is constantly evolving, boards also need to be evolving in financial outlook and approach to not only remain relevant, but more importantly to positively influence their team, membership and community.

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