MADISON, Wis.– CUES has released The State of Credit Union Governance, 2023 in partnership with Quantum Governance, L3C. The report was co-authored by Operations Research at the University of North Carolina at Chapel Hill.
According to CUES, the State of Credit Union Governance, 2023, focuses on four key elements of governance: roles and responsibilities, trust, engagement and accountability. It draws on data collected from the governance assessments of credit union boards, with responses from nearly 200 directors, CEOs and other C-suite staff across the U.S and Canada, CUES said.
The organizations said key findings include:
- The four elements are correlated in a statistically significant way
- Boards are most effective at building trust and least effective at remaining engaged
- Board and senior management continue to be misaligned in the area of governance
- Findings also showed that credit union boards are, in certain targeted areas, stepping up in some very important ways, while they continue to fall far short in other critical ones
‘Something So Critical’
“We learned something so critical about understanding governance effectiveness through developing this report and we are eager to share that knowledge to help insure the future of credit unions through sound governance practices,” said Quantum Governance CEO Jennie Boden. “As the credit union industry evolves and contemporizes along with our social, economic and technological environments, how these organizations govern themselves is critical to the financial health and well-being of all our communities.”
The full report is available for download at content.cues.org/GovernanceReport2023.
It’s Called Fresh for a Reason. And We Offer Home Delivery. For Free!
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com