NCUA on Succession Planning

Written by Steve Van Beek

NCUA's January NCUA Report indicated that NCUA's Office of Small Credit Union Initiatives (OSCUI) would be conducting succession planning sessions for small credit unions:

"OSCUI will hold six CEO Boot Camps throughout the country for credit union managers and their successors. The CEO Boot Camps are designed as one-day total immersion events that combine OSCUI and credit union leagues’ knowledge bases. Each participating credit union league or association will help develop an event’s agenda according to the immediate needs of their small asset size credit unions. 

Participants in the CEO Boot Camps have an opportunity to first hear subject experts review specific topics and then rotate in a round-robin fashion for discussions with individual industry leaders. Agenda topics include understanding the five key ratios, loan underwriting, collections, new products and services relevant to small credit unions, and pricing."

When the dates for the Boot Camps are available, the information will be listed on OSCUI's training webpage.  OSCUI will also host a number of workshops throughout the country and you can find those dates and locations here.  

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Seven Steps to Finding a Credit Union CEO.  The June 2012 NCUA Report included an article from Region III that highlighted seven steps to finding a qualified credit union CEO.  The article's seven steps are:

1. Select a Search Committee
2. Develop a Plan
3. Establish Qualifications
4. Advertise
5. Interview Process
6. Background Checks
7. Decision

One of the tips for the interview process is to "request applicants respond to written questions or be prepared to discuss a package of information - financial statement or business plan, for example - sent to the candidate.  This technique reveals the candidate's thought process, assessment, and decision-making skills."  You can find the full article here.