Credit Union Leadership Talent Acquisition Strategies Require a Big Picture Approach

There is a lot of discussion around the challenges that credit unions (CUs) face in attracting top leadership talent. This is especially true for transformative C-suite roles, and none more so than the CEO position

Our Finance Services Practice Group is frequently asked how credit union executive roles differ from traditional finance and banking leadership. How can a credit union position itself to attract top-tier talent? How can a credit union maximize its assets through executive talent acquisition?  

All things considered, credit unions represent uniquely favorable executive search opportunities — when they are handled well. It requires a thoughtful mix of mission-driven messaging, competitive incentives, and strategic branding to find, assess, hire, and retain a top-level executive in the credit union space. When that process is executed at a high level, it can lead to fantastic results. 

In this resource, we will explore strategies to help shape a successful executive search. We will focus on credit union CEO recruitment as the most common example, but keep in mind that most of this information translates to other roles, such as COOs, CIOs, and CFOs. 

Let’s get started. 

A Quick Look at the Credit Union Landscape in 2025

The credit union sector was sluggish coming out of the pandemic. However, in 2024, activity picked up sharply. Mergers and acquisitions were at the forefront of this momentum, with 12% more mergers announced and a 58% increase in assets acquired compared to 2023. 

By far, the biggest motivating factor behind this M&A activity was a desire for already healthy CUs to streamline the expansion of their services. Other drivers included things like economic pressure, regulatory concerns, technological investment, and a greater market footprint. This growth is welcome, but it also comes with challenges.  

One of the most poignant of these is a growing need for quality leadership. Even as the current interest rate and larger economic concerns have slowed leadership transitions in some areas, the M&A activity in the credit union sector has proactively opened up the need for transitional leadership teams within a growing number of acquired organizations.  

This skill gap at the top of the org chart sheds light on both the importance and dearth of leaders in this area. It also signals an intensifying talent war as credit unions seek to bring in and retain the best leaders with clear success rates and long-term vision that aligns with their member-oriented goals. 

The Unique Competency Needs for Credit Union Executives

Scale is a major differentiating factor in the finance world. According to new data released by Accenture, scale will continue to be a defining factor between long-term success and failure in the coming decade. Nevertheless, there are certain elements that are the same at all levels of financial leadership. This includes the need for competent, qualified, and uniquely equipped leaders. 

You can be part of a massive new entity, like last year’s market-altering acquisition of First Financial Northwest Bank by Global Federal Credit Union for $231.2 million. You can also be operating within the leaner ecosystem created by the quiet merging of Perry Point Federal Credit Union and Central Credit Union of Maryland (which formed a less-than-splashy $42 million in assets and less than 8,000 members). In either case, the core and industry-specific needs for competent leadership are the same — and both are distinctly different from other executive teams.  

In the member-focused world of credit unions, holistic, high-quality leadership is everything. Credit union executives must be able to balance the comprehensive nature of non-profit leadership with the driving force of finance. They must be able to align with culture and develop with their executive teams and financial institutions over time. 

Credit union executives must also be able to operate with a non-profit, member-centric mindset. This requires a shift in perspective for a candidate coming from a traditional banking or fintech environment. As we’ll see as we explore credit union executive search strategy in greater detail, search partners can help navigate these nuances as you identify qualified individuals who can embrace this mission-driven approach. Before you start looking for candidates, though, you need to set the stage on an organizational level. 

Setting the Stage for Strong Credit Union Leadership

Before you start looking for a competent leader, you want to create a community-based financial institution that can attract and retain them. Here are six areas to invest in as you set the stage in an effort to reinforce a strong talent strategy with a desirable workplace. 

1. Emphasize the Mission and Values

Mission and values are always important in executive recruitment. In a credit union environment, though, they are central aspects of an effective talent acquisition strategy. Top leaders are increasingly drawn to organizations with a strong sense of purpose, which is a hiring qualification credit unions are uniquely suited to meet. 

Their people-over-profits approach to finance and community-driven nature lead to greater social impact and financial inclusion. Their long-term vision is for member financial well-being rather than shareholder expectations. 

The Center for Creative Leadership suggests actionable implementation of this purposeful leadership through proactive communication of mission and values. They also recommend cultivating a deep understanding of team member (and in this case, credit union member) motivations and priorities. 

2. Strengthen the Employer Brand

The way your credit union is perceived matters, not just for members but for executive candidates. Invest in your employer branding through brand storytelling. Use platforms like social media, industry publications, press releases, and your own website to share success stories, leadership profiles, and community achievements.  

Clarify how you want your credit union to be seen by the public. Then, craft each communication to cultivate a sense of pride that reinforces that vision.  

If you receive recognition for things like “best place to work” awards, make sure to clearly position these accolades to enhance credibility. Use thought leadership positioning, such as having current executives speak at high-profile events. Have them write forward-thinking industry pieces, as well. 

3. Highlight Leadership and Growth Opportunities

Talented leaders are always evolving. They seek roles where they can have influence and grow. Shape your leadership roles to embrace this mindset by including: 

• Autonomy, influence, and opportunities to lead strategic initiatives and shape the organization. 
• Professional development through leadership coaching, educational stipends, and board collaboration and engagement. 
• Succession planning for credit unions that demonstrates a clear path for long-term growth and proactively builds an internal leadership pipeline to ensure long-term stability and growth. 

4. Offer Competitive Compensation and Benefits

Credit union C-suite compensation trends span the gamut. Take CEOs as an example. Some put the average credit union CEO salary at $142,000 per year. Others have it north of the half-million mark. (This could reflect those managing larger, more complex CU structures.) 

Make sure your compensation package is competitive for the industry, within your region, and for the size of your organization. Look beyond the bottom-line number, too. Create flexible compensation packages that go beyond retirement options and consider things like SERPs (supplemental executive retirement plans). Also include performance bonuses, deferred compensation, and sabbaticals (a priority for Millennial banking executives). Consider community involvement days that align with your company mission and values.  

This kind of compensatory nuance can add a level of attraction even if your base salary can’t match a larger bank or fintech firm’s offer head on. This is another area where a competent executive partner can help you maintain efficiency. Stanton Chase’s own research has found that the cost to re-hire a CEO can push $2 million. Make sure you invest in making the right hire the first time. 

5. Focus on Diversity and Inclusion

Talent diversification initiatives are more than a trend. They are a venerable and beneficial practice, and modern leadership candidates understand that. They prioritize inclusive workplaces with equity commitments and clear D&I strategies. 

Creating clear and transparent initiatives for diversity in credit union management can create more inclusive leadership pipelines and reinforce cultural competency. This fosters a culture where leaders from all backgrounds feel they can thrive and can be a game-changing attraction to a candidate. 

6. Leverage Executive Search Expertise

Partnering with executive search firms that specialize in credit union leadership recruitment comes with multiple advantages. An executive search partner in the credit union space can: 

• Provide industry-specific understanding and experience that incorporate the nuances of credit union culture and leadership needs. 
• Give you access to a broader talent network with qualified candidates outside of traditional banking environments, such as fintech executive talent or mission-driven nonprofit leadership. 
• Come with confidential search capabilities that are ideal for sensitive leadership transitions in a highly regulated and demanding space like finance. 

Aligning Executive Recruitment with Growth

Increasing membership and overall are key metrics for any credit union C-suite executive. This makes aligning executive recruitment with growth a critical piece of your strategy. Hiring the right executive team can fundamentally transform an organization’s ability to scale, attract new members, and deepen member engagement. It also facilitates the development or acquisition of new product offerings. 

Credit unions should align executive recruitment in this area by following these recruitment strategies: 

1. Hire Executives with Proven Growth Records

Experienced leaders come with proven frameworks, strong playbooks, and pre-existing networks that can benefit a new organization. If you want an executive who can thrive in a credit union setting, look for the right signs of past success. 

For example, if you’re hiring a CEO or even a CFO, look for previous success scaling assets and institutional growth. Have they overseen a merger? Helped develop a new product? Met member acquisition targets? 

Similarly, a CMO or Chief Growth Officer should have expertise with specific digital channels. They should be comfortable analyzing data and making strategic branding shifts. A Chief Technology Officer should have clear case studies of digital transformation leadership where they modernized operations, updated systems, or enhanced customer experiences in ways that attracted talent or retained members. 

2. Prioritize Strategic Vision Over Maintenance

Not all leadership is geared for growth. If you want your credit union to increase assets, activity, and overall membership, look for leaders interested in growth over maintaining the status quo. Credit union leaders who align with this should have key attributes, such as: 

• Thinking like asset managers, not just operators. 
• A willingness to balance risk with innovation. 
• Championing data-driven decision-making. 

There are many factors to consider with credit union C-suite hiring. Make sure each aspect and function is aligned around strategic asset management and, at times, expansion. 

3. Use Leadership to Unlock Institutional Partnerships

Senior leaders often come with strong networks. Leverage these to drive new strategic partnerships. Does a leader’s network open the door for a fintech collaboration or a white-labeled investment service that you previously lacked? 

A leader can also elevate institutional credibility. Their experiences and skill sets can create opportunities in new service areas or lending categories. Sometimes, an executive connection can even open the door to potential M&A activity. Do they come from a smaller credit union struggling with a succession plan? This can lead to a direct and tangible increase in assets that traces right back to the acquisition of a well-connected leader.  

Keep in mind that leveraging leadership connections requires vision and finesse. You want these to be present in your candidate as well as your board, hiring team, and executive search partners if you want this kind of potential to bear fruit in the future. 

4. Enhance Member Value with Product and Tech Innovation

An increase in assets and activity can come from a leader’s ability to enhance existing credit union services. As you consider candidates, look for top-tier options with the talent, skills, or experience in areas where you come up short. 

Does a leader have past experience with a new product, like wealth advisory or investment services? This comes with the potential to grow member deposits and trust funds.  

Technology is another significant area where advantages can make a difference. If a CIO or CTO candidate is well-versed in building and implementing modern digital platforms, this tech-savvy experience can streamline a clunky online banking experience or amplify limited existing online services. This can lead to greater membership retention and deposit stickiness. A willingness to responsibly embrace new developments, such as the role of AI in financial leadership or personalized banking tools, can also bring new efficiencies and capabilities to credit union offerings. 

5. Align Executive Incentives with Growth

Keeping quality leaders engaged and in the fold is a critical part of your long-term strategic vision. While the pressures of the “Great Resignation” may have subsided in recent years, retention remains a chronic struggle across all executive teams — including credit unions. 46% of CUs lack a succession plan, and many fail to connect quality credit union talent retention and incentives as part of that process.  

Fortunately, retention and growth can go hand in hand. When hiring, tie executive compensation to growth metrics, like net new deposits, investment balances, or new members.  

Offering long-term performance incentives can keep executives focused and motivated over time through a clear concept of having skin in the game. It also insulates your institution against unnecessarily high turnover in key leadership positions as you seek sustainable growth over the long term. 

What differentiates a Top-Tier Credit Union CEO from Other Financial Executives 

A final consideration as you craft your executive search strategy is what sets credit union CEOs and similar C-suite positions in a non-profit, member-driven environment apart from traditional finance executives. 

A top-tier CEO of a credit union should be capable of looking beyond stakeholder expectations to maintain a comprehensive understanding of all parties, from members to employees to fellow C-suite leaders. They should balance financial acumen with deep emotional intelligence and a mission-driven mindset.  

The best leaders in this space are more than capable operators. They are visionary stewards of community-focused enterprises. Understanding this mission-driven approach to business is essential to a successful hire. With that said, a quality credit union executive candidate should stand out from other executives through the following: 

• Mission-driven leadership that prioritizes the people-first philosophy and ethical stewardship that are central to the credit union ethos. 
• Strategic and visionary thinking oriented toward asset growth, scenario planning for potential challenges, and a community-focused, future-ready mindset.  
• Strong financial and operational expertise that spans the gamut from balance sheet fluency to regulatory literacy and operational efficiency. 
• A tech-forward mindset that sees digital and innovation as key paths toward sustainable success that focuses on serving members over generating profit. 
• Exceptional leadership and team development that can proliferate the non-profit, member-driven team-building approach down the org chart. 
• Outstanding communication and influence that can wield inspirational storytelling to advocate for members and cultivate a positive public presence. 
• Adaptability and crisis leadership that include both resilience and agility under pressure as well as empathetic decision-making. 
• A diversity champion mindset that recognizes equity and inclusion across hiring, services, and governance activities as central to success in a community-focused organization. 

CEO Competency Map: Credit Union vs. Traditional Bank 

Here are some further comparisons of the competencies of credit union CEOs to those of a traditional bank. 

Hiring Leaders for Credit Unions

Investing in the right leaders is about more than filling roles created by turnover, mergers, or succession needs. It’s about engineering a growth flywheel. The right C-suite team can turn a Credit Union into a trusted destination for deposits, investments, and financial advice. This can increase growth and profitability and lead to collective benefits for all parties involved. 

This requires finding leaders who prioritize cooperative values that are different from traditional financial leadership, which focuses on profitability, stock performance, and shareholder returns. Instead, credit union executives must operate as mission-driven leaders who are accountable to member-elected boards. They must be willing to invest in a leaner corporate environment and commit to developing community-oriented cultures that see members as partners rather than commodities. 

At the end of the day, a top-tier credit union CEO is a hybrid leader. They are part strategist, part community steward, and part mission evangelist. While they must drive financial performance, credit union CEOs also operate in a values-driven, people-first ecosystem.  

This unique angle makes it much more challenging to find a candidate with the right blend of inspiration, trust, integrity, innovation, and purpose. And yet, these intertwined talent dynamics are not just important to understand. They can make or break a credit union’s long-term vision. 

Investing in the recruitment process is an unequivocally important first step, which is why it should start with finding the right executive search partner. If you are on a hiring team or board that is seeking the best candidates to fill the executive gaps of a merger or succession plan, start by finding an executive search partner you can trust. This gives you the long-term support, talent network, and assessment expertise that can help you identify needs, find qualified candidates, and select the best individuals to lead your member-focused financial institution. 

About the Authors

Sarah Shamouelian is a Director at Stanton Chase Los Angeles, specializing in executive recruitment across Financial Services, Private Equity, Technology, and Professional Services. With an MBA from Alliance Manchester Business School and 15 years of prior experience in Head of Sales and Business Consultant roles, Sarah brings a strategic global perspective to talent acquisition, having worked throughout the US, Europe, LATAM, and MEA. She is passionate about helping clients transform their organizations through optimized C-suite and senior leadership talent acquisition that combines quality with speed of execution.  

Peter Deragon is a Managing Director at Stanton Chase Los Angeles, the Supply Chain Global Functional Leader, and the Capital Markets and Investment Banking Global Subsector Leader. He is also active in the CFO Practice Group and Financial Services, where he started his career. He has 30-plus years of experience as a trusted advisor and manager in B2B environments. In his free time, Peter supports charitable organizations, especially those focused on ocean stewardship.