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Credit unions are among an estimated 1.5 million nonprofit organizations registered in the United States, many of which are seeking talented and committed individuals to serve on their boards. A recent survey of people who’ve served as directors on nonprofit boards offers insights on prospective candidates’ expectations and concerns about board service.
Half of all respondents to the 2014 survey by Software Advice, an online resource for software reviews, identified personal fulfillment as their most prized benefit of serving on a nonprofit board. The opportunity for professional development was the next most common benefit, cited by 20 percent, and 16 percent of those surveyed identified refinement of leadership skills as a key benefit.
The most important consideration in deciding whether to sign on as a director was the level of expected involvement, cited by 50 percent of respondents. That finding supports the need to clearly delineate the duties and time commitment that comes with board service.
Nonprofit professionals interviewed as part of the study agreed that board recruitment entails finding candidates to complement the group’s collective skill set, rather than focusing on the specialized knowledge required by individual board members. There was broad agreement that successful boards typically include at least one director with expertise and experience in each of these areas:
- the ability to analyze financial reports;
- time management and organizational skills;
- a legal background;
- leadership and project management experience;
- marketing and media expertise; and
- technology skills.
In addition, respondents identified reliability, accountability, and communication as crucial attributes of nonprofit board members. “While board service offers a myriad of opportunities for tremendous personal and professional benefit, it also bears the weight of serious social and financial responsibility,” the report on the NCCS survey notes.
