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From left, CEOs Ronaldo Hardy, Brandon Michaels and Stan Hollen provided a range of perspectives on how credit unions can hire and develop for the future. Sarah Snell Cooke moderated the panel.

Succession planning means more than just having a set of instructions in place for your board to follow in case you unexpectedly die, according a panel of CEOs that participated in a Not For CEOs discussion held at CUNA’s Governmental Affairs Conference.

“A succession plan is not the same thing as a replacement plan,” said Brandon Michaels, CEO of the 52,000-member $477 million Mazuma Credit Union, headquartered in Kansas City, Mo.  A replacement plan is a piece of paper that tells the credit union board who they can turn to replace you in an emergency, he explained. A succession plan is a proactive effort to cultivate and develop the next generation of leaders for the credit union.

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