CEO succession planning is becoming a priority as the economy recovers, retirement savings rebound, and more CEOs decide to retire.
Due to a lack of candidates with leadership skills in the current job market, credit unions without formal succession plans are finding themselves in an unenviable position as they scramble to find replacements for CEOs who leave without a lot of notice.
If your credit union has a succession plan (and twothirds do), review it to make sure it’s still relevant.
Succession planning is more than replacement planning. It’s a way to ensure the continuity of your credit union’s performance and culture.
Having the right leadership in place is crucial to your credit union’s success. Make sure your credit union is prepared to activate a formal succession plan that facilitates a smooth leadership transition.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
CUNA’s Strategic Communications Department teamed up with The Wall Street Journal this week on an infographic illustrating the differences between credit unions and banks. The graphic ran in print today, on International Credit Union Day.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.