How to build a coaching program at a credit union

Step 1: Define the purpose

Decide what the program is for. Common purposes in credit unions:

• succession readiness for the chief executive and key executive roles
• accelerating new and newly promoted executives
• strengthening the executive team
• retaining and developing high-potential leaders

A program with a stated purpose can be evaluated. A program that offers “coaching for those who want it” cannot.

Step 2: Decide who is eligible

Typical tiers:

Position coaching as an investment in leaders the credit union values. Programs that are seen as remedial attract stigma and candidates hide their participation.

Step 3: Select coaches

• Vet a small panel of coaches or a single firm with a bench of coaches.
• Require senior-level experience, recognized training, and references. See How to choose an executive coach.
• Offer each leader a choice of two or three.
• Prefer coaches who understand credit union governance and culture.

Step 4: Standardize the engagement

Set default terms so every engagement is not a negotiation:

• length, commonly six months with an option to extend
• assessment at the start, such as a 360
• three-way goal alignment among leader, sponsor, and coach
• session frequency
• midpoint and final reviews
• confidentiality terms. See Confidentiality in executive coaching.

Step 5: Budget

Budget per engagement rather than per hour, and place it in the executive development line or, for the chief executive, the board’s CEO development budget. Ask providers for all-in engagement pricing. Coaching several leaders in a year often qualifies for package pricing. See Executive coaching cost and return on investment.

Step 6: Assign roles

• Program owner, usually the senior HR or people leader, manages the panel, contracts, and measurement, and never sees session content.
• Sponsor, the leader’s boss or board chair, agrees goals and gives feedback.
• Leader owns their goals and reports their own progress.
• Coach owns the process and protects confidentiality.

Step 7: Measure

Track a small set of indicators: goal attainment, re-measured 360 or stakeholder feedback, sponsor and participant ratings, and program-level outcomes such as promotion readiness and retention of coached leaders. See How to measure executive coaching outcomes.

Step 8: Connect it to everything else

Coaching works best as part of a development system that also includes stretch assignments, education, mentoring, and succession planning. See Executive coaching vs. leadership development programs.

Mistakes to avoid

• Starting with managers while executives opt out
• Letting each executive find their own coach with no standards
• Asking coaches for session reports
• No end dates
• Measuring satisfaction only

Frequently asked questions

Who should own the coaching program in a credit union?

The senior HR or people leader normally owns the program, with the chief executive as executive sponsor and the board sponsoring the chief executive’s own coaching.

Should a credit union use one coaching firm or several coaches?

A single boutique firm provides consistency, a shared method, and simpler administration. A panel of independents offers variety. Either works if selection standards are clear.

How many leaders should be coached at once?

Begin with a small cohort, often the chief executive and one to three senior leaders, so that sponsors can give each engagement real attention.

Should we train internal coaches?

Internal coaches make sense once there is steady demand below the executive level. Senior executives are generally better served by external coaches because of confidentiality and independence.

This page is educational and general in nature. It is not legal, regulatory, or clinical advice. Questions or corrections: coaching@syntrinaleadership.com.