Maximizing and ensuring member value and performance requires an ongoing review of the depth of talent in your credit union as well as the right complement of skills to lead effectively and navigate changing strategies. As markets become more global and technology continues to play an even greater role in strategy, the criteria established for both CEOs and succession planning candidates emerges and changes over time.

These skill sets need to be linked to the strategic plan, performance reviews as well as the CEO and board dashboards. It's the role of the board to understand key strategic drivers of the credit union one to two years, three to five years and five to 10 years out.

Criteria will evolve from these drivers that will define the required skills sets for the CEO, CEO succession candidates and board member candidates as well. Criteria established also will assist in filtering out certain candidates that do not help to affirm your chosen strategies. At the board level, it's important to ask, "Am I bringing fresh thinking and do my skill sets match what's needed for the credit union strategically?"