Just as the debate rages on about whether the chicken or the egg came first, there is an ongoing dialogue regarding the board role and the function of the management team. This excellent blog post discusses a proposed rule by the Federal Reserve (which would not apply directly to credit unions) that could narrow the scope of the board role.
As the author says so well, “Perhaps this model isn’t a perfect fit for the credit union industry but a clear explanation of board responsibilities is a discussion well worth having. Existing guidance doesn’t provide enough guidance to board members. And let’s face it, there are some boards that exercise too much power and some boards that exercise too little oversight. This is in no one’s interest.”
I hope you give it a read and think about your own board/management relationship and how it might be improved.