What Do Effective Credit Unions Have in Common?

Credit unions play an important role in the North American financial industry as financial cooperatives that offer something different from the big banks. Many of them are institutions with a heart, devoting much of their efforts to community projects and charities, and providing financial services for many businesses and individuals who might not otherwise be able to access them.

Credit Unions Have in Common

Credit unions like BlueShore Financial are regularly lauded for their philanthropic efforts and their corporate culture. BlueShore Financial administers over $3 billion in assets with a commitment to corporate social responsibility. Ontario’s Meridian, with over 250,000 members and $9 billion in assets, is one credit union that’s set out on a mission to improve its members’ financial literacy, so that they can take control of their savings, debt, and investments. VanCity, another Vancouver-based organization, is known as a socially conscious credit union. With half a million members and nearly $20 billion in assets, it is one of the largest credit unions in Canada, and it’s using that strength to make it easier for people to build affordable housing in British Columbia’s skyrocketing market. Honolulu-headquartered Hawaii State Federal Credit Union manages $1.3 billion in assets and take pride in their charitable efforts in the state of Hawaii, particularly their partnership with the Friends of the Library of Hawaii. How do they continue to work for their members and communities and successfully manage so much money?

What all of these credit unions have in common is a commitment to good governance. In order to make that an easier goal to achieve, they use board portals. Platforms like Aprio Boardroom make it easier for staff to prepare books and reports, and ensure that all directors get the same information. Credit unions are governed by people who want to take part in building an organization with social purpose and work for members who all have a stake. When it’s easier for them to access crucial documents, they can deliver good governance to organizations that care.

If you’re wondering how exactly a digital platform can help board meeting management, here’s how board portal software from Aprio works:

  • Board packages and reports are created through the digital platform, saving hours of copying and couriering time
  • Administrators create groups that control directors’ access to documents, i.e. committee members will belong to a group with the exclusive ability to view relevant reports
  • Directors login during meetings and have quick, searchable access to relevant documents on their laptops or tablets, plus a reference index of legislation and bylaws their organization has to follow
  • Between meetings, they can login to review and annotate documents, as well as vote using secure board portal software from Aprio

Board portals such as Aprio are safer and more secure ways to distribute documents electronically. For credit unions with high expectations of security and confidentiality, email simply is not a secure enough medium for distributing information, and neither are free file-sharing services. With a purpose-built board portal, documents themselves require passwords, so that even someone using a director’s device would not be able to casually access sensitive information. Board portal software can save your organization’s employees and board members hours of time and grief retrieving important meeting materials. Make board portal software from Aprio easier with a simple, secure, and comprehensive digital platform.

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