Boards of directors at community banks may be well-informed, but they're not the greatest at putting their knowledge to good use.
That's the consensus from a new study conducted by Bloomington, Minn.-based technology company Integrated Governance Solutions and commissioned by accounting firm Baker Tilly in Chicago.
Baker Tilly said 74% of respondents ranked their banks' boards' knowledge of organization health and organization practice monitoring as "strong" or "moderately strong." However, respondents only gave their banks' boards an average rating of 2.5 out of five for their recruiting, orientation, training, tenure and removal processes, the firm said.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
