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The Community Mutual Group (CMG) is the largest inland community Credit Union in Australia, providing financial services to 70,000 clients with an asset base of almost AUD$1 billion.
It includes three regional Credit Union brands – New England Mutual, Orana Mutual and Hunter Mutual.
Boosting efficiency and saving costs in and out of the boardroom
CMG was searching for a secure board portal solution that would increase efficiency and cut down the cost of producing and distributing board packs. They also wanted to reduce the carbon footprint by distributing documents electronically.
With 23 board and committee meetings per year and up to 12 packs being produced for board meetings, it took four to six hours to compile the papers for each meeting. “We were looking for a solution to reduce our environmental impact, as well as a more efficient way to collate our documents in preparation for distribution”, says David Munday, Chief Governance Officer.
CMG reviewed other products that could provide electronic board packs. They selected BoardPad due to its functionality and ease of use. CMG opted for BoardPad’s self-hosted solution in accordance with the organisation’s security policy. The digital distribution of papers had a positive impact on the eco-friendly company policy and also pleased the board.
From a director’s perspective
Since implementing BoardPad, directors have enjoyed the instant and easy access to their board papers as soon as they are published, rather than having to collect them in branch or from the post office. This has allowed board members more time to prepare for their meetings. The BoardPad team also provided hands-on training and support during the transition time to ensure successful uptake.
From a meeting organiser’s perspective
The administration team has been impressed with the significant time and cost savings made, thanks to BoardPad’s administration platform, Connect. The arduous task of producing hard copy packs is now a thing of the past for CMG. David explains, “it is really easy for the company secretarial team to set up a meeting, make amends to agendas and documents (even after the meeting has been published) and immediately distribute the papers. The ability to create the pack as a single PDF document from the imported files is also another advantage of BoardPad”.
David adds, “the training provided by BoardPad was very good. Training sessions are offered when significant changes are made available through new releases, however, if a need for training on a specific area is required, BoardPad are happy to schedule WebEx training sessions on an ad-hoc basis. The support team were also very helpful and are able to assist when queries arise”.
The Community Mutual Group’s shift to electronic board packs has had a positive impact on both the board and administration team. BoardPad has saved CMG approximately AUD$6,000 per annum in printing, stationery and postage costs. “The time efficiencies gained by the use of BoardPad, are substantial”, says David.
BoardPad has improved the efficiency of preparing and distributing board papers, allowing board members more time to prepare for meetings and for administrators to easily make quick amends and distribute information in a timely manner, when necessary.
Many efficiencies have been gained and have reduced the time involved in setting up meetings.