This spring, the NCUA released a series of videos that contained best practices to organize and run effective board meetings. The videos contain helpful basic information on how to better serve members by better managing the credit union.
Watch the NCUA video series here.
Here are three takeaways:
No. 1: Plan Ahead And Set Expectations
Effective board meetings rely on two things: preparation and knowledge of expectations. Productive meetings depend on participants meeting these two standards.
As the videos describe, best practices here include setting meeting dates in advance and distributing agendas for each scheduled meeting. When creating the overall agenda for the meeting, incorporate the concepts of consent and discussion agendas
Consent agendas list topics that have no substantial updates. Board members can vote on these as a whole. Discussion agendas include topics the group needs to address individually.
Set precedents for promptness, preparedness, and engagement from each board member. Missing meetings, arriving unprepared, and being disengaged all lead to ineffective board meetings. Board members that behave like this affect the decision-making of the entire group and negatively impact the credit union as a whole.
No. 2: Know The Chair’s Role
Administratively, it is the chair's role to ensure meeting dates and times are clear, agendas are sent, meeting minutes are received, assignment lists are distributed, and meetings run smoothly, efficiently, and on time.
The chair moderates the discussion,making sure all board members feel welcome to voice their opinions but now allowing any person or people to dominate a meeting. Promoting healthy discussion is important for the decision-making process.
It’s the chair’s job to understand the skills and talents individual board members bring to the group. The chair can use this information to engage the board and assign tasks.
The chair has the most influence in the overall success of the board and its decisions. Having adequate and effective leadership and intervention techniques can be the trick to overcoming an indecisive board of directors.
No. 3: Take Minutes
Meeting notes are easy to overlook, but properly taken and distributed minutes help ensure effective and organized board meetings.
Distributing organized minutes is the best way to confirm all board members are on the same page after the meeting and to help them prepare for future meetings. They are also useful in creating a culture of accountability.
It is the board secretary's role to summarize and list individual assignments, committees, discussion highlights, voting results, and all deadlines. Inaccurate, vague, or missing minutes lead to misunderstandings among board members and potentially an ineffective board of directors.
Are You Ready For Strategic Planning?
The most effective planning sessions require prep work, sharp focus, and a true understanding of your credit union’s place in the market.
Use this set of essential performance ratios for strategic planning to make the most of your team’s time together.