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Governance During Crisis: Some Thoughts on Board Leadership Amidst the Coronavirus Outbreak

The board’s role in times such as these should change in a calculated but flexible way to support the CU.

By Tim Harrington and Kevin Smith | March 18, 2020 at 12:09 PM
Meeting of credit union board members. Meeting of credit union board members. Source: Shutterstock

For many of you, your credit union’s crisis preparedness plan is being tested as we speak. If it’s not, it likely will be within days or even hours. As a board, you will be challenged as well. TEAM Resources is here for you as you need us, starting with some thoughts on how to best govern during these challenging times.

At TEAM Resources we talk about the Governance Spectrum between boards that are 1) Too strong and too involved on the one side and 2) Too weak or disengaged on the other. The Goldilocks spot is right in the center: The board that governs strategically. However, by definition, times of crisis mean disruption and boards should consider how they can be more involved in ways that are helpful, not micromanaging, or getting in the way. Directors have a critical role to play here.

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