Succession planning is no longer a “nice to have” for credit unions, it’s becoming a regulatory expectation. With the NCUA’s new succession planning rule set to take effect in January 2026, and most states expected to follow suit, boards must now treat leadership continuity as both a compliance matter and a strategic priority.
While credit union boards and HR teams drive the succession planning process, Earnest Consulting Group (ECG) helps those efforts succeed by designing executive benefit and retention strategies that keep key leaders engaged for the long term. By putting the right plans in place, we help credit unions protect their leadership pipeline and strengthen continuity.
Why Succession Planning Matters
In a rapidly evolving financial landscape, even a few months of disruption at the leadership level can set a credit union back. Projects stall, momentum slows, and competitors gain ground. Succession planning ensures that transitions, whether planned retirements or sudden departures, don’t derail strategic initiatives.
But succession planning can only work if your institution retains its most talented leaders. ECG supports that effort through tools like Split Dollar Plans, 457(f) Plans, and Corporate-Owned Life Insurance (COLI) funding strategies, which are designed to make executives think about their future with the credit union—not outside of it.
Retention Through Executive Benefit Design
For rising executives, career growth isn’t always linear. Boards may rotate leaders across finance, lending, IT, or operations to prepare them for future CEO or C-Suite roles. These developmental opportunities are essential, but they’re only effective if your top performers are committed to staying.
That’s where tailored benefits plans come in. Earnest Consulting Group helps boards and leadership teams design programs that:
- Reward long-term commitment and loyalty.
- Provide competitive, mission-aligned incentives.
- Give executives a clear reason to envision their future with the credit union.
Addressing Unique Credit Union Challenges
Every credit union faces different succession and retention challenges:
- Larger credit unions often struggle with highly specialized roles like lending officers or cybersecurity leaders.
- Smaller credit unions may rely on executives who carry multiple responsibilities, making leadership continuity even more critical.
Our role is to help credit unions create customized benefit and retention strategies that complement internal succession efforts and address these unique dynamics.
Strengthening Board-Level Accountability
Boards set the tone for leadership continuity. By ensuring that executives are supported with competitive retention and benefit strategies, boards can reduce turnover risk and create a stronger foundation for succession planning.
With Earnest Consulting Group as a partner, boards gain:
- Expertise in executive benefit design.
- Guidance to stay within regulatory guidelines and NCUA limits.
- Confidence that their leadership continuity efforts will be reinforced, not undermined, by talent loss.
Position Your Credit Union for Leadership Continuity
Succession planning is both a regulatory requirement and a competitive advantage. But it only succeeds if your best leaders stay long enough to take the next step.
Earnest Consulting Group helps credit unions design executive benefit and retention plans that make succession planning possible. Our strategies protect your leadership pipeline, safeguard your mission, and prepare your organization for the future.
Is your board ready to strengthen leadership continuity? Connect with Earnest Consulting Group to learn how the right executive plans can power your succession strategy.
Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. Earnest Consulting Group is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. Supervisory address: 280 Congress Street, Suite 1300 Boston, MA 02210 | Phone 617.439.4389. CRN202809-9504933
