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At $4 billion asset Genisys Credit Union in Auburn Hills, Mich., Board Chair Thomas Healy likes being a sounding board for CEO Jackie Buchanan, who sometimes runs ideas past him before presenting them to the full board. Other institutions frequently approach Genisys about potential strategic alliances or mergers, which are examined for their impact on the credit union’s corporate culture and other factors.
“We’re very selective in considering any potential deal,” Healy says. “Jackie and I may discuss and debate potential initiatives for weeks or even months before she’s ready to make a proposal to the full board.”
Healy has more than 20 years of board experience backed by a 38-year career in sales, marketing, and product management in the information technology and telecommunications industries. The Genisys board typically prepares its leaders by allowing directors to serve on every committee and as vice chair before becoming board chair. Committees are empowered to develop reports and proposals for consideration by the full board.
Healy believes it’s important to let committee chairs and management lead discussions at meetings. “Probably the hardest thing for me is to be quiet,” Healy says. “As chair, it’s important to sit back and not drive the conversation—until it’s time to drive to closure.”
Building a board that represents Genisys’ target market is Healy’s top priority, but attracting and retaining younger board members is difficult.
Michigan law forbids compensating directors financially, which he hopes will change.
“While the time demands are not great, it’s difficult to attract top-level talent to serve on a volunteer basis,” Healy says. “Asking young people to invest their precious time in the credit union instead of their family and job is a big ask.”
‘It takes about a year before you feel like you’ve got your bearings.’
Megan Manahan Bliss
Robyn Cousin became board chair at $4 billion asset Affinity Plus Credit Union in St. Paul, Minn., in 2022 after six years on the board, and just as term limits took effect at the credit union. Directors are now limited to serving four three-year terms, creating more opportunities to recruit directors who represent its diverse membership.
“It really changed the role of the chair, because it’s part of the chair’s responsibility to manage the whole process,” Cousin says. That process includes recruiting the right people now to have at the table later for critical discussions, preparing board officers to serve shorter terms, and keeping board term limits in mind when making committee assignments.
“It opens up a whole new realm of future thinking,” Cousin says.
Making sure all directors understand Affinity’s culture, governance, and membership is critical. The credit union used a consultant to guide the board through the delicate process of adopting term limits.
When that created a board with more newcomers than incumbents in 2023, the board asked the consultant to return so all directors were grounded in the same governance approach.
“Having an infusion of new people is certainly necessary,” Cousin says. “But at the same time we need to make sure their values are in line with ours and that they understand the difference between credit unions and banks. We have to make sure we’re all aware of our relationship with members and with the leadership team, as well as the role and responsibility of the board chair.”
Cousin spent 34 years in education, first as a classroom teacher and then in administration, matching community resources to educational needs. She then started a “second career” as business representative for a union serving the state of Minnesota’s employee supervisors, from which she recently retired.
Shortly after becoming a board member, Cousin determined her educational training in diversity, equity, and inclusion was an asset she could share. As board chair, she realized her biggest leadership contribution would come from facilitating meetings and serving as the conduit to the CEO. Being transparent in both roles is important to Cousin.
“I’ve seen how detrimental behind-the-scenes exchanges can be,” Cousin says. “As a leader, I can be transparent and not play games. That makes it safe for the CEO, senior management, and board to be open about what’s going on. Walking your talk matters.”
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