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Formalizing the Art of Board Composition

A board of directors can make or break the success of a credit union. Yet credit unions sometimes find board governance lacking or inadequate for meeting their challenges. This report provides research-based recommendations for improving board composition, including formalizing recruitment and evaluation to help credit unions leverage more from their boards of directors.

  • Matt Fullbrook Manager, David & Sharon Johnston Centre for Corporate Governance Innovation at Rotman School of Management at University of Toronto

Executive Summary

There are times when comfort and reliability are called for. When driving across the country with a carload of hungry kids, those golden arches are a welcome sight. It’s reliable, it’s comforting, and it’s a safe choice, but eating that kind of food every day is a bad idea.When it comes to recruiting and evaluating credit union boards, we also value reliability. But we also need our boards of directors to offer creative and strategic guidance that pushes us beyond our comfort zone.


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