Many credit unions turn over one or two board positions each year. To fill those openings, a board nominating committee develops a set of ever-evolving criteria—a checklist that matches the specific mission, identity, and culture of the credit union with the up-to-the-minute demands of the market and the skillset of a potential board member. It’s not easy.
Don Cheyne, board chair of $3.4B Elevations Credit Union in Boulder, Colorado has some advice: “It depends on the individual who terms out and the competencies we’re losing as a result, our strategic direction, and the operating environment at that particular time,” he says.
“The criteria always changes; it shouldn’t be fixed,” says Cheyne.
So how do you get it right? Attending the Credit Union Board School is a great place to start. The curriculum includes big-picture overviews, mastery of the financials and how to build and fulfill a wishlist for recruiting. You can even obtain an official Certified Credit Union Board Member (CCUB) certificate. The in-person networking also offers tremendous insight.
Board positions—and the abilities of board members—play a vital role in where your credit union is headed. Read more here, in this article: “Elevate Board Recruiting.”
