Last week I attended a governance conference in New York City. The primary focus of the meeting was education of directors who serve members and other important stakeholders. The real challenge that CEOs and boards face, is to learn as fast as the world is changing. This implies a commitment to strengthening our skills to understand the impact of technology and multi-generational members in our communities.

As you study these trends, it becomes apparent that different sectors of society absorb information and draw conclusions about products and services in different ways. Therefore, looking over the horizon will require a redefinition of leadership. In the past, clearly stated, a leader served others. Today, that definition of leadership requires both service and learning.  

Here are some directional issues that will redefine standards and behaviors and will require boards to transform their governance and strategic models. By defining systemic risks and identifying opportunities, you put your credit union in the best position to prosper – being supported by a governance structure that embraces learning. This dialogue defines the roles and responsibilities of senior leadership and your board.