Credit Union Exam Solutions Presents With Flying Colors What Should Be In Your Board Monthly Package According to NCUA
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Jun 26, 2025 Todd Miller, a former consultant with the NCUA, brings his 34 years of expertise to discuss the essentials of board monthly packages. He highlights the necessary components for compliance with NCUA standards while addressing the unique needs of credit unions. Miller shares insights on risk management during challenging times and the balance between quantitative and qualitative data. He emphasizes the importance of clarity in board reporting, effective governance strategies, and adapting materials to ensure relevance in decision-making.
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Ensure Board Package Reflects Compliance
- Board packages should reflect management's responsibility to demonstrate compliance with the board's policies and risk appetite standards.
- Boards need accurate and understandable reports to make informed decisions aligned with strategic plans and risk frameworks.
Risk Transparency Prevents Trouble
- Credit union boards often fall into trouble because they are misinformed about the credit union's risk position.
- Transparent and timely risk communication is crucial to avoid boards being kept in the dark.
Use Consistent Dashboards
- Use consistent, concise dashboard reports with key performance and risk indicators for effective board understanding.
- Avoid excessive detail that may confuse directors or invite micromanagement; include peer benchmarking when possible.