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Technology is taking credit union boardrooms by storm as an increasing number of institutions have adopted online portals to provide board meeting packages and other materials in a fast, efficient and secure manner. Online formats are also providing volunteers with forums for discussions, polling and sharing information.
Online board portals have been around since 2003, but experts say adoption rates were slow until the introduction of the iPad.
“Advancements in online technology have made it easier for secure materials to be shared safely, immediately and effectively, guaranteeing that credit union volunteers have all the materials they need, when they need them,” Kevin Smith, director of volunteer education at CUNA, said in a white paper.
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NCUA and Fed data also show credit unions’ share of auto loans in September has fallen from a year earlier.
The list includes six credit unions merging due to poor financial condition and two for poor management.
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