Using Crucial Data to Align Your CU

The Fourth Industrial Revolution necessitates that credit unions employ data-driven decision making to refine their financial operations and maximize razor-thin spreads. During this webinar, we’ll walk through how some credit unions are employing DDDM to more broadly evolve their operations, focus their talent, and deliver greater value to the membership.

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Preparing Your Board for the Coming Decade

The average board member is now in the midst of, at least, their third major governance challenge. Most board members today played critical roles during the Great Recession, have overseen a change in CEOs, and now find themselves navigating an increasingly complex and unpredictable confluence of external variables. The potential role and capability of boards in the 2020s will undoubtedly be informed by the last ten years of governance practices.

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Simple, Innovative Steps for Aligning Your Board

Take a deep dive into the common challenges that credit union boards face, and the cutting edge methods available to overcome them. We’re sharing the easy steps boards can take to get more aligned, stay aligned, and realign if needed. We’re also talking about ways boards can handle the tougher topics that often go unaddressed.

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Board Recruitment – Demystifying the Process

Nationwide, credit union boards are experiencing a similar challenge in finding the best possible talent to serve in a volunteer capacity (apparently citing the potential liability is not a great selling point!). The old method of recruiting and onboarding directors no longer works, and many boards are scrambling to fill a single position.

DDJ Myers highlights the best practices for board recruitment that will result in a pool of well-qualified and eager candidates who are ready to contribute in a fiduciary and strategic capacity.

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Shifting Your Career from Management to Leadership

We’re discussing the central characteristics in executives that have transitioned from being tactically effective to strategically impactful, and shedding light on what it takes to enact a strategic perspective to create meaningful and long-lasting change.

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Part 2: New Rules for CUs—Is Your Board Aligned and Ready?

By Peter Myers 

In our most recent post, we were encouraging boards, like the organizations they oversee, to reevaluate some of the standard practices that have always informed their business (like members no longer coming into branches). Historically, that would have been a crazy suggestion. Following suit, what are the unmentionable topics boards should discuss? We believe board composition and succession is one of them.

The Board Alignment Assessment provides an objective framework for boards to have grounded conversations about board best practices. The idea is not to score 100% on everything but to assess alignment on the variables that influence and impact board performance.

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Part 1: New Rules for CUs—Is Your Board Aligned and Ready?

By Peter Myers

Brace yourself. Data, one of the biggest influencers of our time, has a few lessons for us that may be bitter to taste and even harder to swallow. Nonetheless, we hope the lessons stimulate your appetite for action.

A few dynamics are becoming more critically important as we reconsider processes in response to  COVID-19. Something has to change drastically in the conversations regarding board composition and succession.

Everything needs to be reevaluated to construct a sustainable new normal. Some credit unions have to make the difficult choice of closing branches and furloughing staff; one CEO plainly said, “It sucks … and we’re embracing the suck.” This situation is requiring credit unions to innovate new ways of doing the basics. Some of these new practices will stick, such as metered remote workforces, and some new practices will likely not stick, halting expansion plans.

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CEO Performance Evaluation Best Practices

The most important singular decision a board makes is hiring the best possible CEO to fulfill the organization’s objectives. However, discovering shared priorities, normalizing the rhythm of coordination, and effectively evaluating the CEO’s ongoing performance can feel like a full-time job—especially for a volunteer board!

Best practices will be highlighted for boards to implement a performance evaluation method that is substantive in content, rigorous in evaluation, and encourages improvement and alignment on the most important priorities.

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If You’re Ready To Be CEO, It Will Show, Plus A Lot More On CEO Succession For Both Boards And Candidates

What does it mean to be CEO-ready? How can candidates know when they’re ready? How can boards know a candidate is ready for the top slot?

Some key things candidates should have if they’re really ready to lead an organization include a deep understanding of cross-functional leadership, solid knowledge of the business and how to work with people; and experience with effective board governance, explains Deedee Myers, Ph.D., MSC, PCC, president/CEO of DDJ Myers Inc., a CUESolutions provider based in Phoenix.

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