What are some proven best practices for optimal governance models?
Effective board governance situates the credit union board as the locus of dependability, even in times of crisis and change. Therefore, it is essential to the sustainability and health of the credit union to think critically about board governance, including board evaluation practices, renewal processes, and board composition.
Key considerations when revamping your board governance model:
- Viewing boards as strategic assets
- Engaging members on the board
- Implementing board best practices
- Fostering director education
- Focusing on stakeholder management
Filene has many resources highlighting opportunities for credit unions to strengthen their approach to governance.