Many credit union executives are pondering how to do a better job of documenting communications with their boards of directors. The new National Credit Union Administration requirement that directors demonstrate basic financial literacy has brought this question to the fore. Examiners may want to see documentation that boards are given financial training materials or demonstrate financial prowess in the course of their work.

Another issue that makes documentation a front-burner issue is the fact that board-related paperwork is burgeoning every year. CUES member Michael Daugherty, president of $13 million Community Plus Federa…