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BOARD PAY: THE CEO'S PERSPECTIVE
updated 09/09/13 01:41 PM
Six CU Leaders Weigh In
Should state-chartered credit unions in California and Nevada be expressly permitted to compensate board members?

Such a question wouldn’t have been taken seriously several years ago, but times have changed.

With the addition of Washington this year, 10 states now allow state-chartered credit unions the authority to pay board members to varying degrees, depending on the state’s provisions, according to the National Association of State Credit Union Supervisors (NASCUS). Some credit unions participate while others do not.

So why the change? The volunteer role of “board director” at both state and federally chartered credit unions has evolved from basic overseer into something more elaborate as credit unions conform to new regulations, according to interviews with several CEOs. Some credit unions are also concerned they’ll have a harder time attracting new board members in the future.

“Regulatory expectations for credit union boards continue to increase as credit union operations grow in complexity,” said Mary Martha Fortney, president and CEO of NASCUS. “However, the issue of whether credit unions should compensate directors is one which the credit union system has not reached consensus.”

The editors of Credit Union Digest asked six state-chartered credit union CEOs for their opinion.

Click here to explore their individual perspectives on Pages 6-7 in the October/November edition of Credit Union Digest!

 
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'BIG DATA' SPOTLIGHT: RISK OR REWARD updated 10/22/14 12:06 PM
Three Panelists Share Opinions
With Alessandro Acquisti as moderator, Wednesday’s audience was treated to a lively discussion—and a bit of back-and-forth debate—on the use of “big data” at credit unions and its ramifications.

SPEAKER DELVES INTO DATA PRIVACY updated 10/22/14 11:57 AM
The Credit Union Connection
As the Big Data Panel during REACH 2014 kicked off on Wednesday, it was apparent “big data” is everywhere and infiltrates all facets of our lives. But how much do consumers value their privacy, and what does it mean for credit unions?

SOCIAL CHARM: INGREDIENT FOR SUCCESS updated 10/22/14 07:59 AM
Chen Lizra at REACH
“Engagement” is one of the top buzz words circulating around REACH 2014—and TED speaker, business consultant, and author Chen Lizra shared some unique insights during the general session on Tuesday. Her buzz word: “social charm.”

INNOVATION PANEL SPURS TAKE-AWAYS updated 10/22/14 05:21 PM
Three CU Industry Perspectives
Attendees at REACH 2014 received a plethora of ideas from Tuesday’s innovation panel to take back to their credit unions—not the least of which included more interaction between employees and leaders, and free-flow of ideas from the bottom up.