By Jeff Rendel, Certified Speaking Professional
“How do you oversee your credit union differently today than five to ten years ago?” a panel of board chairs from large credit unions was asked, referring to the pre-multi-billion dollar days of their credit unions. Unanimously, the chairs agreed that questions to their CEOs that focused on central strategies was of greatest benefit; and, operational conversations were best left to the CEO and her or his team of executives.
Similarly, when asked what types of questions from their boards helped balance governance and execution, CEOs from several dozen additional credit unions indicated that “focus” and “challenge” were of highest value in aligning oversight and implementation. Basically, for a board to add tremendous value for its CEO, it should become a master of questions that are focused and challenging. Below are ten examples to get your Board started on the path of asking great questions.
- What are our three most important areas of focus this year? This helps your Board concentrate on the broad direction of your credit union and where you anticipate moving forward.
- What major strategies move the CU forward? Attaching specifics and measures to your areas of focus, strategies and plans allow your Board to view the real-world steps of progress.
- What risks should we be taking? As fiduciary agents, a conservative outlook is normal. But, credit unions don’t grow – and members aren’t served – without taking well-designed and well-managed risks.
Read the rest of Jeff’s article and suggested questions.
As a certified speaking professional and President of Rising Above Enterprises, Jeff works with credit unions that want entrepreneurial results in sales, service, and strategy. Each year, he addresses and facilitates for more than 100 credit unions and their business partners.