SUCCESS Next Exit. National Credit Union Administration Office of Small Credit Union Initiatives. Road To Success. Board Governance. What We’ll Cover. Board Governance (What does it mean?). Principles of Board Governance (What are the principles?). Board of Directors
(What does it mean?)
Principles of Board Governance
(What are the principles?)
Board of Directors
(What are their responsibilities?)
Board of Directors
(How to be an effective director?)
Select qualified senior management and evaluate management’s performance.
Establish, review, and revise business goals, standards, policies and procedures.
Review operating results and performance of new and existing products/services.
Ensure compliance with applicable laws and regulations, as well as the credit union’s policies.
Know your credit union’s history, charter, mission statement and bylaws.
Know the credit union’s policies and procedures by setting standards of operations.
Understand and evaluate the credit union’s financial reports, operating budget, audit and examination reports.
Correct any findings identified by the NCUA examiner or auditor.
Represent and promote the credit union to the potential membership.
Avoid any conflicts of interest.
Be objective and fair when providing input and participating in decisions.
Act on issues only if you thoroughly understand them and know the consequences.
The Meaning of Board Governance
The Principles of Board Governance
The Board of Directors’ Duties and Responsibilities
The Requirements for an Effective Director
Examiner’s Guide – Chapter 7 (Management)
Corporate Credit Union Guidance Letter #2005-02
Basel Committee on Banking Supervision – “Enhancing Corporate Governance for Banking Organizations”
Article – “Measuring the Effectiveness of Corporate Governance” – by Dr. YilmazArguden
Article – “Board Effectiveness” by Michael Washburn