Comments Due to NAFCU: NCUA - Succession Planning

Important Regulatory Dates Add to Calendar 2022-03-18 17:00:00 2022-03-18 17:00:00 Comments Due to NAFCU: NCUA - Succession Planning NAFCU would like to highlight the following: At a minimum, the succession plan must identify the credit union’s key positions, necessary competencies and skill sets for those positions, and strategies to identify alternatives to fill vacancies. Key positions may include officers of the board, management officials, executive committee members, supervisory committee members, and (where provided for in the bylaws) the members of the credit committee to provide continuity of operations. Compliance with the proposed rule will be assessed through examinations. Comments due to NAFCU: March 18, 2022 Comments due to NCUA: April 4, 2022 Comment now   NAFCU will send comments on behalf of its members to the NCUA by their deadline (April 4, 2022). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • At a minimum, the succession plan must identify the credit union’s key positions, necessary competencies and skill sets for those positions, and strategies to identify alternatives to fill vacancies.
  • Key positions may include officers of the board, management officials, executive committee members, supervisory committee members, and (where provided for in the bylaws) the members of the credit committee to provide continuity of operations.
  • Compliance with the proposed rule will be assessed through examinations.

Comments due to NAFCU: March 18, 2022

Comments due to NCUA: April 4, 2022

Comment now  

NAFCU will send comments on behalf of its members to the NCUA by their deadline (April 4, 2022).