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New findings about CU board productivity in CUES report. New findings about CU board productivity in CUES report. (Source: hxdbzxy/Shutterstock)

Although credit union boards are stepping up in some very important ways, they continue to fall far short in other critical areas such as spending enough time on strategic discussions that can help credit unions become more vigilant, identify risks and opportunities, and adapt to imminent changes.

In a 2020 State of Credit Union Governance report that highlighted credit union governance and leadership trends, directors said they spend as much as 60% of their board meeting time on operational oversight issues. The recently released report was produced by CUES in Madison, Wis., Quantum Governance L3C in Herndon, Va., and the David and Sharon Johnstone Centre for Corporate Governance Innovation at the University of Toronto.

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Peter Strozniak

Credit Union Times

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