MADISON, Wis. -- A volunteer board structure is at the heart of the credit union community.
NAPERVILLE, Ill. -- The decision by the Illinois Credit Union League to ban volunteers from its board of directors last year has been panned by some in the community, but a league representative said it was a necessary step approved by delegates.
It is a fair question, but a deeply sensitive one around credit unions and their boards of directors: Are CUs doing enough to weed out older board members who have served for decades but lack the financial knowledge and experience to be effective?
LAS VEGAS — What should diversity look like on a credit union's board of directors?
Achieving diversity among board members is difficult enough at most credit unions, but community development and low-income credit unions face special challenges of their own.
When it comes to improving credit union board diversity, performing a self-assessment is one of the best practices to consider, according to Jim This, president and co-founder of the Paragon Group, an Olympia, Wash.-based CUSO owned by $894 million TwinStar Credit Union that offers board effectiveness evaluations.
BROOKLYN, N.Y. — If community development or low-income-designated credit unions are forced to hold board seats for people of certain income classes, it would be counterproductive.