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Director’s Resource League of Southeastern Credit Unions | December 2012 | Vol. 2, Issue No. 4 President’s Message Happy holidays from the LSCU & Affiliates. We appreciate your support in 2012 and look forward to working closer with you in 2013. This past year was a very good year for the LSCU and LEVERAGE, the League Service Corporation. At the LSCU, it’s our belief that if we do well, we want to share our success with member credit unions. In 2013, we expect to offer our affiliated credit unions a dues rebate. This is the first dues rebate ever offered to credit unions in either state. This is made possible in part by the hard work and dedication of our volunteer board of directors at the LSCU & Affiliates. The final year-end numbers won’t be known until the books are closed on 2012. Credit unions are asked to pay their dues like normal. A paper check will be issued around the end of the first quarter. The dues rebate is a result of a more streamlined LSCU, and the financial success of LEVERAGE. By purchasing products from LEVERAGE, credit unions are helping the long-term sustainability of the League. You can see how it also has a direct correlation to your dues. We’re excited to offer this rebate. Thank you again for your affiliation this year and I hope you can see we are offering more services to our directors. You play a large role in the success of your credit union. Enjoy the Director’s Resource and I hope to see you in 2013. Good Governance: Board Position Descriptions Decisions leaders make about people are critical to organizational success because people impact everything in an organization. Leaders are people and people are the sources of information leaders rely on to make decisions. People set and carry out the organization’s strategy. People react during a crisis. The right people fix a decision that is going badly, and the wrong people can mess up even the most brilliant decision. CU industry data suggests that more could be done for board renewal efforts. According to a Credit Union National Association study released this January, the typical credit union board member is a 61-year-old-white male. He has served on the board well over a decade and will more than likely serve for many more years. In addition, a 2010 Clarkson Centre for Board Effectiveness study sponsored by the Filene Research Institute and CUES found that the majority of credit union boards do not have a process in place to address their recruitment challenges. For example, 70 percent did not have director election processes in place and only 25 percent had an evergreen list of potential board candidates. And, a 2005 Filene Research Institute study (“Board Recruitment and Selection Practices at Credit Union Boards,” not available online) of credit union boards found that 38 percent of boards did not have position (continued on page 2) Save the Date Regulatory Compliance Update Jan. 16, 2013 Wednesday Mobile, AL Click here for more information 2013 Credit Union Quail Hunt Jan. 18-19, 2013 Friday-Saturday Town Creek, AL Click here for more information Small Asset Size CU Conference Feb. 5, 2013 Tuesday Orlando, FL Click here for more information

LSCU Director's Resource Newsletter, 4Q 2012

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