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CU Snapshot

 September '18August '18
# of CUs5,6535,686
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings85.5%84.5%
Loan Delinq.0.7%0.7%

         Credit Union Indicators

You've decided to hire an executive coach

Tips to find the right person.

Seeking feedback, becoming aware of your strengths and weaknesses, and being accountable for changes are all steps toward successful professional development.

But unlike other credit union employees, the C-suite might have a more difficult time finding such frank feedback and guidance through traditional educational opportunities. That's why some executives look outside the movement for personal instruction from a coach or mentor.

Keep these four tips in mind to ensure you find the right person to guide your personal and professional development:

1. Take your time. Know what you're looking for in a coach. You might need to meet several times to determine if the relationship will work. "You must feel good," says Kevin Ralofsky, president/CEO at $795 million asset Verve, a Credit Union, in Oshkosh, Wis. "If you don't feel it, don't pursue it."

2. Develop trust. While a coach's educational background, pedigree, and list of clients are important, Ralofsky believes it's more important to have a natural conversation about interests, hobbies, or family life, because that's a key element in developing trust in the coach.

3. Participate fully. Supply the coach with any personality inventories, strength finders, or reviews to help him or her understand how you interact with others. This allows the coach to guide you through your development. "A coach needs to understand you from a personal and professional development standpoint," Ralofsky says.

4. Look outside. The best coach for you might not have credit union industry ties. Coaches who come from other industries have different perspectives and connections that you could find valuable.

Read more on executive coaching and other topics in the July issue of Credit Union Magazine.