By Christopher Stevenson
A month or so ago, NCUA board member Michael Fryzel wrote an excellent article about an easy way to incorporate ongoing professional development into credit union board meetings. He called it "The Extra 30."
Here's how it works.
Each month, directors arrive 30 minutes early to their board meeting. That extra time is spent exploring a topic that is relevant to the board or the credit union. It may be anything from understanding key ratios or an aspect of the competitive environment to compliance and what regulations mean for the credit union. The important piece is that The Extra 30 is spent focusing on a topic relevant to the board and the credit union.
The benefits of this kind of ongoing development for boards are terrific. When the time is spent on improving board function and the role of governance, it helps boards be more effective and avoid repeating mistakes from the past. When the focus is on strategy development and the competitive landscape, the discussion helps ensure the board maintains a strategic perspective instead of focusing on day-to-day operations. Essentially, these 30 minutes can help prime the pump for more effective board meetings that are geared toward strategy and good governance instead of getting stuck in the weeds.
It may be tempting to use The Extra 30 as a time for directors to complete online courses on the basics of credit unions and the role of the board. After all, if board members aren't completing their studies between board meetings, why not give them time to complete assignments "in class"? But I contend that focusing on individual learning when the group is together diminishes the opportunity for sharing ideas and asking questions that will naturally promote learning and understanding. Not only that, but it inhibits the opportunity for raising the elephants in the room--those challenges that every board faces that are difficult to address and remedy.
Consider this option instead. The governance committee selects a monthly topic based on a strategic or regulatory challenge or a facet of board effectiveness. Choosing the topics is easy if the board has completed a self-assessment to help determine its strengths and weaknesses; simply base the topics on the areas that are weaker. Then provide facilitated discussion. Start the forum by reading a short article or watching a video together to set the stage and give all participants a common starting point. Then ask two or three open-ended application questions like, "How does our board apply this concept?" or "What are two or three practical steps we can take as a board to improve in this area?" If conversation slows, ask another question. This is a simple, efficient way to raise the issues that are most important to the board and develop more confident and effective directors.
Seek out resources to use as conversation starters. These may be articles from trade publications or credit union blogs, business magazines that provide a cross-industry perspective like Fast Company, or articles or videos resulting from memberships like CUES' Center for Credit Union Board Excellence.
Remember to keep the article or video short so you have time for discussion. Twenty-five minutes of reading or watching with only five minutes of discussion will not yield the results you are seeking.
Give it a whirl. Add 30 minutes before your next board meeting for director development and discussion and see what you think. Use a sample resource from the Center for Credit Union Board Excellence as a starting point. You can view our demonstration video of CCUBE to review all the features that can benefit your board or use one of the many free articles and videos on the home page. Preview them, determine which topic is the best fit for your board, and then let the discussion begin. I believe you will be pleasantly surprised at the result.
Christopher Stevenson is VP/marketing and professional development at CUES.
Get an extra helping of director learning at CUES Governance Leadership Institute. slated for June 2-5 in Toronto.
