Smaller credit unions can develop succession plans with the NCUA’s succession plan template, getting assistance through the Small Credit Union and Minority Depository Institutions Support Program, and completing online training available through the NCUA’s Learning Management System.
For purposes of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.), the NCUA considers small credit unions to be those having under $100 million in assets. Although the template is intended primarily as an aid to small FICUs, all FICUs may benefit from its use. Federally insured, state-chartered credit unions electing to use the template should consult applicable state requirements to ensure their succession plans are consistent with any such requirements.
The NCUA has posted a video series on succession planning.