Volunteer Succession Planning – ‘Tomorrow’ has arrived.

Strong succession planning is critical for the viability of all organisations, but it presents particular challenges for volunteer-led entities. Credit unions in Ireland—with their boards of directors, board oversight committees, and supervisory committees—depend on committed individuals who step forward to serve their communities.

Whilst credit unions are the focus here, much of what we discuss applies equally to other volunteer-driven organisations. The challenges are universal: finding people willing to commit their time, meet increasingly stringent requirements, and undertake ongoing training obligations.

Why Succession Planning Matters Now

Contributing to your local credit union is one of the most effective ways to make a real difference in your community. However, succession planning isn't something to put off until tomorrow—that day has already arrived for Republic of Ireland credit unions.

Legislative service limits, minimum competency requirements, and skills shortages have transformed succession planning from a future concern into a current, pressing risk that requires immediate action.

The Credit Union Mission

Credit unions exist to help people take control of their financial wellbeing. They provide financial services at reasonable rates, guided by their not-for-profit philosophy. This approach has never been more relevant, and we should reiterate it often when addressing succession challenges.

A comprehensive governance, risk, and compliance system incorporates various risks impacted by succession planning issues. The current challenges facing credit union volunteers are well recognised, with service limits for long-serving directors and board oversight committee members looming large in the near future.

Community Representation as Strength

Volunteer-led organisations continuously seek the right mix of people to lead them forward—individuals who reflect the community whose interests they represent. This community representation has historically been, and continues to be, one of the credit union movement's greatest strengths.

Once a volunteer meets the fundamental requirements of competence, integrity, and honesty, and has the time capacity to perform the role, everyone brings something valuable. Whether it's understanding the challenges of managing a household budget in today's economic climate, having first-hand knowledge of what people experience at different life stages, or bringing workplace expertise—each perspective helps the credit union make better decisions to manage its particular risks.

Taking Action on Succession Planning

From our interactions with credit union customers, we know it has never been more important to keep succession planning front and centre. We encourage all credit union people to discuss volunteering opportunities within their personal networks—be a connector through your own contacts.

If you're reading this and haven't yet volunteered at your credit union, please consider it seriously. Don't be discouraged if there's no vacancy at present—there are election cycles and due diligence processes to complete. Your credit union will genuinely appreciate your willingness and understanding.

Conclusion

Succession planning for volunteer-led organisations is essential for sustainability. Those organisations that embrace succession planning as a strategic priority will be best positioned to thrive in an increasingly complex regulatory and operational environment.