New Voting Poll: Should Volunteers Have More Representation on CU Trade Association Boards?

WEST PALM BEACH, Fla. – At NAFCU's recent Annual Conference and Exhibition an old argument surfaced that still riles up emotions. That is whether credit union volunteers, who are often touted by trade associations as one of the industry's distinguishing characteristics, should have more representation on trade association boards. Often when the credit union industry wants to show how it is unique, it points to a few things. One is that credit unions are not-for-profit cooperatives that exist for their members, not shareholders. Another oft-cited fact is credit unions' governance structure, that being credit union boards are made up of unpaid volunteers. Looking at the boards of CUNA and NAFCU you find directors don't play a major role on either board. But shouldn't they, since they play an important role in the industry? Or should these boards consist mostly of paid professionals who unlike many volunteers have worked in the financial services industry their whole careers? That brings us to the next online voting poll question. It reads as follows: Should credit union volunteers have more representation on national credit union trade association boards? * Yes * No * Not Sure