Study: Boards That Don’tMicromanage Are The Most Satisfied

MADISON, Wis. - (08/23/04)-- Boards that don’t seek tomicromanage the credit union are the most satisfied, according to anew study that seeks to determine satisfaction among credit unionvolunteers. The new report from the Filene Research Instituteexamines the relationship between 16 different activities and boardsatisfaction, and divides those activities into three groups:strategic planning, strategic decisions and non-strategicactivities. The research finds that in general credit union boardmembers have a good or high level of satisfaction with their role,but there are notable variations across credit unions. Only oneactivity was negatively correlated with satisfaction: spending alarge portion of meetings dealing with day-to-day operations. Ofactivities positively related to board satisfaction, the strongestrelationships were with several non-strategic activities, includingclose monitoring of financial soundness and involvement inassessing the appropriate skills/characteristics required of boardmembers.