By John Lass
Recently we have noticed a marked increase in interest in the topic of credit union Board Governance. Several factors may contribute to this heightened focus on governance.
First, the regulatory constraints on board compensation, board meeting frequency and other governance issues are shifting in numerous states.
Second, many credit unions are facing significant succession events, both at the Board and senior management levels.
Third, important governance topics have emerged such as the possibility of replacing the traditional Supervisory Committee with an Audit Committee.
And fourth, as technology has given members better access to information, Boards understand that their members are far more astute and able to obtain and evaluate data – thus requiring the implementation of best practices.
We see this increased focus on governance as a healthy and much needed development. In response to this demand, Lass Advisory Services LLC and the Pacific Northwest law firm Foster Pepper are teaming to offer a free one-day Symposium on Current Issues in Credit Union Board Governance. This symposium will be held in Seattle on Friday, September 15th.
Slate of Speakers
We have scheduled a strong slate of speakers to address key governance topics, including:
- The Board-Management relationship
- Board composition and succession planning
- Diversity of Board members – both in thinking and representing their membership
- Board assessments
- The role of the Nominating Committee
- Supervisory/Audit Committees: Appropriate roles
- Additional issues of interest
Our panel of speakers will include:
- Bradley Thoreson, Foster Pepper attorney and Trustee of Seattle Pacific University
- Steven Peltin, Foster Pepper attorney, Chair of Foster Pepper’s Employment and Labor practice, Board Secretary of Seattle Theatre Group
- Parker Cann, former BECU Senior Vice President and General Counsel
- Rafael Stone, Foster Pepper attorney and Seattle Times Board Chair
- John Lass, President of Lass Advisory Services LLC and former SVP Strategy at CUNA Mutual Group
Special Keynote
The symposium will also feature a special keynote speaker, William Longbrake. Bill joined Washington Mutual Inc. in 1982 and served as CFO from 1982 to 1994, except for a two-year stint with the FDIC. From 2004 until his retirement in 2008 Bill was a non-executive liaison for WaMu with regulators, legislators and industry associations. Bill has been an Executive in Residence at the University of Maryland since 2009. He has also been a long-time member of the BECU Board of Directors in Seattle, where he is a member of the Governance Committee.
Bill’s presentation will analyze how weaknesses in WaMu’s organization culture contributed to the ultimate collapse of the bank. We will use this compelling case study to explore what the role of the Board should be in asking the “tough questions.” Bill Longbrake’s background in full can be seen here.
The symposium is designed for credit union CEOs and board chairs, but will also be of interest to risk officers, internal legal counsel and other credit union personnel closely involved with Board governance issues. We are limiting the size of the audience to ensure a participative format.
Our space is limited for this special free event, so please register soon by contacting events@foster.com. We will also host a welcoming reception and dinner the previous evening, Thursday, Sept. 14th. Full symposium details including lodging information are available by contacting events@foster.com.
Event date: Friday, September 15th, 8:30 AM to 3:30 PM
Location: Foster Pepper Law Office, 1111 Third Avenue, Seattle
Welcome dinner: Thursday, September 14th; location TBA
We hope you will join us to participate in a powerful and productive event. If you have additional governance topics to suggest, please contact john@lassadvisoryservices.com.
John P. Lass is president of Lass Advisory Services, LLC. For info: www.lassadvisoryservices.com, or john@lassadvisoryservices.com.