Credit unions have never had a harder time finding or convincing talented young professionals that they’re the place to build a career.
Despite the movement’s purpose-driven work, many credit unions still struggle to brand themselves as employers of choice. The result is showing up in the numbers: about three credit unions a week are projected to have merged by year-end 2025, according to Callahan & Associates, and the industry is down to roughly 4,400 nationwide.
A significant—though often unspoken—reason behind those mergers is uncomfortable and straightforward. Some credit unions aren’t planning for, or can’t find, their next CEO. And when they do start looking, the pool of qualified candidates is often far too shallow.
With NCUA’s new succession planning rule taking effect on Jan. 1, 2026, this challenge is about to get even more attention. Boards will be expected to take leadership continuity seriously, and rising executives who want to step into the top job must bring their best to the table.
So, The Credit Union Connection went straight to the source. We asked top recruiting firms in the credit union market the top 3 things they advise non-CEOs (and sometimes existing CEOs) on when applying for a CEO position. Here’s what they had to say –
Charles Shanley, CEO, Shanley Search Partners
1. Know the dynamics of the Board and what they are looking for. Study the Board’s backgrounds, find them on LinkedIn. It’s a good idea for candidates to know all their backgrounds, careers, how long they have been on the board and in what capacity. See if you can find commonalities with your own background. What is important for the Board?
There is usually a list of competencies we look for in any CEO, including culture fit, vision, strategy, collaborative and sometimes transformative leadership, adaptability, results-driven, emotional intelligence, community involvement, experience, etc. Try to find out what is most important to the Board.
2. Know the organization and be prepared. We have a saying, “The most prepared wins.” Study the organization, financials, website, history and relevant information. Are they SEG-based, Community Charter, CDFI… The Board will want to know that you have done your research; it shows initiative.
Be prepared to discuss what your plan would be if you were selected as the next CEO. They will want to hear your vision. There will be situational questions requiring you to describe times when you excelled in key areas. One of the best recommendations for CEO candidates is to review their career and list instances where they:
– Improved a product or service
– Demonstrated visionary thinking
– Turned a failure into a success
– Had to resolve a conflict with a colleague or supervisor
The list goes on. We and the Board will ask you questions, and it will be much easier to draw on these experiences if you refresh your memory of those parts of your career before the interview. Then, there’s less, “I should have said this instead of that.”
3. The part that’s often overlooked is not to hold back about your life outside of work. The Board can’t ask most personal questions—many are illegal—but everyone wants to know something about you. Sharing more about yourself makes you more human, and Boards appreciate that. Typically, you’ll be asked to walk the Board through your career, and this can be a great opportunity to discuss your life outside of work, whether that involves family, hobbies or something special. Remember, we may not be able to ask those questions, but you are free to share whatever you want.
BONUS: And yes, I know you mentioned three points, but this one is also important: Don’t forget about relationship building. Having relationships with others can give you a significant advantage. By this stage, ideally, you’ve already made strides in networking and connecting with people. Knowing someone who knows the Board and can recommend you is invaluable. Take it a step further and build relationships with firms that specialize in placing CEOs. Let them know what you’re looking for and what makes you unique. We interview CEO candidates regularly, and even if a particular search isn’t the perfect fit right now, we want to be prepared to refer you when the right opportunity comes along.
Sarah Hilton, SVP, D. Hilton & Associates
1. I always encourage candidates, especially internal candidates, to keep a list of their accomplishments, projects, and lessons learned to share during an interview. The list should be of examples that don’t fit or make sense on their resume. Examples include sharing how they successfully mentored a direct report or a time when things didn’t go as planned, but they were able to turn the situation around. I find this helps when candidates are asked for examples during an interview.
2. If you are not involved in your community, get involved now. Boards want to know that candidates are visible in their communities, beyond activities sponsored by the credit union. The same goes with the credit union community. Get involved!
3. Candidates need to take a step back and look at their experience and reposition their mindset. They are not a CLO, CFO, or CIO (for example); they are a strategic business leader with expertise in lending, finance, etc. Candidates need to approach interviews holistically and make sure they showcase that they are more than the area they currently oversee.
And once a CEO is placed –
Janice Shisler, CEO, JSpire Recruiting
1. Executives who lead by example and share their vision of success inspire those who believe their contribution is impactful. Incoming CEOs bring a blend of opportunities and enthusiasm to provide mentorship while establishing a foundation to create opportunities for their team, filling the void to ensure those they lead bring a mix of expertise. Collaboration with your leadership and Board of Directors will enable you to communicate your strategy, allowing your organization to thrive effectively.
2. Share your successes and obstacles with those you trust, as well as what inspires you as a CEO. View challenges as opportunities! When crafting your team, please share your vision for how they will contribute to your organization and strive for success.
3. Don’t lose sight of what your desired outcomes will be as the CEO; success is built on a foundation you establish through a collective approach with your team and Board of Directors. Join your community and promote what your organization stands for and the valuable assets it can share with its community and membership.
1 thought on “Top things new credit union CEO applicants must come prepared with”
I really enjoyed the practical aspects of this article.