Right now, the BECU board of directors has very few differences with traditional for-profit banks. BECU board members are all required to have finance or executive business backgrounds. Also, the board election process is very secretive, with limited opportunity for voting or participation from regular BECU members. While professional experience is a plus, this also leaves out a great wealth of perspectives. Since BECU is not a for-profit bank but a credit union, opening up 1-2 board slots for an at-large BECU member would ensure a community voice is heard on the board. Also having a more transparent process for board elections and annual meetings would instill more confidence - and perhaps get you more good ideas!
... View more