NJ DNA Group Discusses Diversity in the Board Room

HIGHTSTOWN, N.J. – The last NJ DNA directors meeting of the year was held at the League Office on Wednesday. The meeting facilitator was credit union veteran Scott Butterfield who shared his passion for credit unions, especially smaller ones, and presented tactics for growth within the industry by having a diverse board.

Butterfield stated—and the group agreed—that the majority of boards do not reflect their membership in regards to gender, ethnicity, culture and more. Without a diverse board, many miss the mark on how to meet needs of members who are not like them. Can a single mom get to the credit union between 9 and 5? Probably not. Does a millennial find us relevant in terms of technology and ease of use? Does an all-white board understand the needs of the Latino population?

Butterfield provided examples of how three credit unions were able to grow and prosper by finding a niche market and building relationships to grow loans. This only scratches the surface of the impactful session delivered.

In addition to the meeting topic, NJCUL President/CEO David Frankil and Vice President of Member Experience and Education Barbara Agin informed the group of the League’s goal to create a relevant director conference in New Jersey in 2018. A viable solution for director education is something Frankil has been thinking about since last years’ Convention and the League is committed to crafting a relevant program for N.J. board and volunteers.

Frankil also shared with the group the new healthcare pool that could potentially save member credit unions below $50 million in assets significant costs on healthcare. He also discussed a revenue generating program, a business collaborative where credit unions can participate in one of three ways: fully fund business loans, participate on loans or at a minimum, and/or make referrals. Look for more information after the New Year!