Note: This blog was originally published in September 2017, but the information remains relevant.
Bob Harris is an expert and speaker on the topic of association boards and governance. His 2017 article, How to Manage Board Leaks, still hits on a topic important to the credit union industry — confidentiality in the boardroom.
He notes, “The boardroom is intended to be a safe place for confidential discussions. Directors are responsible for advancing a mission, fulfilling fiduciary roles, and maintaining confidentiality.”
How is your credit union addressing confidentiality?
In this era of quick and accessible information and daily news of leaks of personal information from trusted vendors and businesses, credit unions need to take confidentiality seriously. It is very important to the overall reputation of your credit union and our entire industry.
This is not to suggest it is a problem, but to remind you that your board should have an ongoing conversation around confidentiality. Many of us live in small Montana towns, so we have to be extra vigilant when it comes to protecting our credit unions’ and our members’ private information. Making sure you wear your “board member hat” both in the boardroom and in your community is crucial.