Credit Unions Participate in Discussion with NCUA’s Chair Harper on Succession Planning Proposal

America’s Credit Unions hosted a discussion with NCUA Chairman Todd Harper Wednesday on the NCUA’s succession planning proposal. Several state Leagues and 27 credit unions took part in the discussion, including CrossState member credit unions: Affinity FCU, Erie FCU, First Capital FCU, First Harvest Credit Union, and Seaport FCU.  

The NCUA’s proposal would require credit unions to establish and adhere to processes for succession planning. CrossState filed a comment letter to the agency in April after in-depth conversations with member credit unions. CrossState’s comments included strongly supporting that succession planning is an important component of a credit union’s strategic plan, and that NCUA examiners already review a credit union’s succession planning as part of the management component of the CAMELS rating system.