CU*Answers, the 100% credit union-owned, cooperative CUSO, asks credit unions whether their board members are asking the right questions. As part of their ongoing effort to help credit unions educate their boards, the CUSO provides the “Asking the Right Questions” website—a site designed to provide questions by category for management and board members to ask of their credit union during meetings.
The questions on this website are frequently asked questions posed by fellow credit unions board members to their management team. CU*Answers believes that understanding the numbers is only part of the process. The questions on the website will help credit unions board members understand whether credit union staff has analyzed the numbers and devised a strategy to move the credit union towards better returns. Credit Union Board Directors should use this site to make sure they are asking the RIGHT questions and are engaged in the board meetings. Credit Union CEOs and management should use this site to make sure they are answering the right questions and prepared for an interactive board meeting.
Each section of the website focuses on a different segment of the board meeting. That way with the use of this website these general questions should be kept in mind and posed when appropriate.
- Have we been presented with all the information ahead of time?
- What are other credit unions in the area doing to be successful?
- What are the current industry trends?
- How does our performance compare to regional and national credit unions with a similar asset size?
- How does our performance compare with previous years? Are we trending up or down?
Visit http://asking.cuanswers.com for more details. This is just another example of some of the products, services and resources CU*Answers provides to not only their credit unions, but the industry for free.