My oldest child recently graduated from high school.

One of her talents is singing, and she spent her high school career in the school choir. With all the emotions that are experienced by a graduating senior, there is one tradition in particular that was extra special for her. At the end of the final choir concert of the year, the graduating seniors start singing a song, and about halfway through they pass their microphone to the students that will be taking their place the following year.

It was fascinating for me to see my daughter feel the sadness of letting go of something she loved so much, but also the excitement she shared for her peers that would carry on the traditions of that choir.

I was fortunate to start my credit union career in the CFO role when the prior CFO retired. I was given opportunities to develop, with plenty of help from colleagues and mentors along the way. As my then-CEO retired, the Board tapped me to fill that role within the credit union. Recently, I was selected by the Board at Arizona Central Credit Union to take on the CEO role as the prior CEO retired.

I now have the chance to work with the amazing team here to grow the credit union and expand our impact.

Each time I was given the opportunity to move into a new role, it also opened an opportunity for someone to fill in my prior spot. When done well, this type of leadership succession builds on the foundation of the prior leadership while giving way to the new ideas and focus the new leader brings. This is how credit unions evolve. We honor the outgoing leaders for all the time and effort they put into this difficult job, but then we look forward to the progress that comes with the transition.

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It’s often difficult to see these respected leaders leave, but there is a certain excitement that comes with this change that can be felt throughout the organization.

Here are a few tips that I have learned to help with a smooth leadership transition:

I know this is always possible, but giving adequate notice improves the chances of a smooth transition with any position, but especially a CEO transition. Whether it’s an internal hire or external search, the Board of Directors needs sufficient time to get together and make some critical decisions about the future leadership of the credit union. It’s important that Board members don’t feel rushed in this process and have time to feel confident in their decision.

We are lucky to have so many strong leaders in this movement. They have seen some things and learned all kinds of lessons along the way. They have also been the keeper of the history of your credit union. Don’t miss a chance to sit down with them to pass on some of that institutional knowledge.

The first time I interviewed for the CEO position, the retiring CEO let me know that she wouldn’t be offended if I brought up things that I would do differently. In fact, she encouraged it. Candidates can feel empowered to bring their best selves to the interview process and the new position when they are given the green light to effectuate change.

As you move into the new position, make sure you are clear about your vision for the credit union. What will change? What will stay the same? Whether you were an internal or external hire, there will be a mix of excitement and trepidation about what you will bring to the new role. Being transparent about your plans will help build positive engagement as you implement the new strategic direction at your credit union.

Despite the many headwinds we may be facing as a movement, the future is bright for credit unions and our members. We have a deep bench full of talented leaders with new and innovative ideas that, given the chance, will keep us moving forward.

Let’s be purposeful in how we plan for succession as we pass the mic to the next generation of credit union leadership.