How Credit Union Leaders Can Prepare to Serve On Boards
Serving on a board allows credit union leaders and those approaching retirement to continue advancing their mission-focused commitment, using their career experience, and making a difference in their community. However, finding and obtaining a board role, particularly a paid position, is not as simple as you may expect. Board members are strategic thought leaders who […]
Split-Dollar Versus 457(f) Plans and What Credit Unions Should Evaluate
When building an executive benefits package that seeks to recruit and retain top talent, the question arises: with multiple options, which benefits should we include? Popular choices that uniquely benefit credit unions are the collateral assignment split-dollar (CASD) and 457(f) plans. Both are retention tools that provide retirement benefits to executives—but which is better? As […]
When to Take Strategic Risk in Your Credit Union—Your ACTion Point
As a credit union executive, should you consider your personal financial success before the direction of your credit union? Yes and no. The reality of your position challenges you to lead your organization boldly into new initiatives, technology, and markets; however, every major decision you make comes with risk. Whether it will pose a financial […]
How Strategic CEO Succession Planning Can Position Internal Executives for Success
Planning to exit your organization as a credit union CEO ideally occurs years before your anticipated retirement date. Strategic credit union leaders understand the logistical and emotional process ahead of them. As a result, succession planning is an essential component to ensure the credit union’s success in the future, and the confidence of the credit […]
How Credit Union Executives May Optimize Early Retirement Cash Flow to Secure Low-Cost Medical Insurance
Early retirement may be a goal you’ve been working toward your entire career by strategically saving, allocating your risk, and positioning your personal finances.. As a credit union executive, if you choose to retire before age 65, the age at which most people qualify for Medicare, you may also have to consider how to secure […]
How Credit Union Executives Can Optimize an Employer-Sponsored Retirement Plan
Nearly 80% of credit union 401(k) plan participants have all or some of the retirement savings going into a target-date fund. The concept is certainly attractive, offering an entire portfolio with automated rebalance features for those who are less comfortable with self-managing their investments. But is the target date fund a one-size-fits-all solution suitable for […]