By Teresa Freeborn
One trait setting credit unions apart from our financial services competitors is a history of collaboration with one another. In that spirit, when Xceed Financial Credit Union was asked by CUES to describe and share our director education policy, we were happy to do so.
Xceed has a long-standing commitment to director education, going back much further than the NCUA requirements that came out roughly two years ago. When we onboard a new director, they undergo a six-month orientation period, followed by two years of training modules, made available through CUES Director Education Center. Thereafter, we choose new courses each year to further build their knowledge base. Here is our detailed curriculum:
Year 1 Modules
- Board Governance: An Overview
- Role of the Board
- Role and Function of Board Committees
- Role of the Individual Director
- Role of the Board in Delegating Operating Authority to Management
Year 2 Modules
- Role of the Board in Strategic Planning
- Role of the Board in Recruiting, Compensating & Assessing CEO
- Role of the Board Establishing an Effective Risk Management Framework
- Monitoring Credit Union Performance
- Role of the Board in Reporting Membership
Year 3 Modules
- Recruitment, Election & Orientation of New Directors
- Role of the Board in Mergers, Acquisitions & Strategic Alliances
- Models of Governance: An Overview
- Two electives
Our experience indicates having a structured continuing education program helps board members become better volunteers. Drawn from our SEGs, many don’t have any credit union background. The learning modules help transition them into their role as credit union leaders and generally prepare them to be successful in matters of governance and financial decision making.
Feedback has been overwhelming positive. Of particular note is the observation the content strikes just the right balance of providing relevant, important information without overload. CUES reports individuals who complete modules through the CUES Director Education Center show a boost in scores from roughly 67% on the pretest, to 93% on the post test; which seems to be consistent with our results as well.
Given Xceed's nationwide footprint, our volunteers live all over the country and it’s challenging to pull everyone together. Board members usually phone in or use our branch video conferencing system to connect to meetings. Making online training available is another easy way for us to bridge the geographic distance and keep board members engaged and connected.
Teresa Y. Freeborn is President/CEO of Xceed Financial Credit Union, El Segundo, Calif.; and Chairwoman of CUES’ board of directors.
CUES Director Education Center is your one-stop resource for providing solid, foundational knowledge for your directors so they can fulfill their volunteer responsibilities with confidence. Become a CUES Director member today to take advantage of this easy-to-use training tool.
