Succession planning has always been a good idea. But with so many possible retirements coming up in the world of credit unions and lots of other change in the world of financial services, it's worth an extra look these days. The National Credit Union Administration thinks so too and has proposed a rule that would require federally insured credit unions to have a succession plan in place.
In this video, The Honorable Rodney E. Hood, former chair and current member of the NCUA board, talks about the critical nature of succession planning, plus some ways to approach doing it well.
Access a transcript of the audio.
Plan ahead to meet NCUA’s proposed rule on succession planning
The proposed rule, if adopted as a final rule, would apply to all FCUs, regardless of asset size. This complimentary Board Renewal Policy is provided by CUES and our strategic partner Quantum Governance, L3C. It's a template you can edit to create your own policy.
Download the template
