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A blog addressing issues and topics of interest for Montana credit union board members. Read a new post every week. 

Consider the Use of a Consent Agenda

by Rhonda Rumbaugh, Pennsylvania Credit Union Association

A Consent Agenda is placed on the agenda for a meeting of the board of directors listing several action items, usually routine in nature, which can be acted upon by the consent of the board without taking a vote. It is important that the board members have enough time prior to the meeting to inspect and review the documentation and other information for Consent Agenda items. Each director fulfills his/her fiduciary responsibility by reading and understanding these items. Consent agendas speed along meetings because it is not necessary to have motions and approvals for each item individually.

A recent blog post by the CUNA CFO Council noted, “Usually the topics on the consent agendas cover duties that are delegated to the CEO, but that require board knowledge and approval. It saves a lot of time and the board knows where to look when it has questions about any of these issues.”

The executive committee of the board of directors usually determines what goes on the consent agenda. Any board member can pull any item off the consent agenda for discussion at the board meeting. It is understood that all board members have read and understand the contents of the items on the consent agenda. Some credit unions take the financials off the consent agenda several times a year for thorough discussion.

Each credit union must determine what makes sense to include on the consent agenda. Here are common items to include:

  • Previous minutes
  • Statement of financial condition
  • Statement of income and expense
  • Corporate VISA accounts
  • Membership reports
  • ALCO Report and rates
  • Delinquency and charge-off statistics
  • Investment portfolio update
  • Other committee reports

Rhonda Rumbaugh, CAEBecause the consent agenda streamlines the meetings, the Board has more time to focus on planning, strategic, and philosophical issues.

Rhonda Rumbaugh, CAE, is the VP of Marketing & Professional Development at the Pennsylvania Credit Union AssociationThis post was previously published as a portion of the article "Rethinking Your Board Meetings," which appeared in the July/August 2014 issue of Key Notes, the Pennsylvania Credit Union Association's bimonthly publication.

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