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Letter: Good Board Governance

Henry Wirz wrote an excellent letter regarding the fallacy of term limits for credit union directors [CU Times, June 8, page 11]. He made the argument that there were better ways to select and replace directors in credit unions and that one of those better ways was a good evaluation...

By Dennis McCuistion | Updated on July 03, 2011

Henry Wirz wrote an excellent letter regarding the fallacy of term limits for credit union directors [CU Times, June 8, page 11]. He made the argument that there were better ways to select and replace directors in credit unions and that one of those better ways was a good evaluation process. While I agree with most of the things Wirz said, my experience is that most credit unions do not do evaluations of the board and its individual members, and if they do, they are merely surface jobs.

It is not necessary for board members to be “owners” in order to perform their fiduciary duties as a board member. It is necessary that they be educated on the process of serving as a board member and that there is leadership in the board room that has as one of its objectives the “refreshing of the board” over time.

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