LAS VEGAS — Governance took center stage during a session that featured three international regulators: Deposit Insurance Corporate of Ontario President/CEO Andy Poprawa, NCUA Board Member Gigi Hyland and Australian Prudential Regulatory Authority Executive General Manager Brandon Khoo.

Credit unions in Canada are trending toward nominating committees that carefully vet applications and recommend board candidates to members, Poprawa said. He thinks the trend will continue, and it speaks to some of the issues faced by Canadian and U.S. credit unions, which sometimes struggle to find board members who possess the right skill sets, experience and expertise. It's even more difficult for small credit unions, which may not have enough people qualified within their memberships to fill their boards, he said.

Current legislation proposed in Canada's Parliament would require board member vetting, including interviews with regulators, who would also review governance effectiveness along with financial reports.