By Donya Parrish, MCU VP- Risk Management
An important resource was unveiled recently and it’s worth highlighting a few key takeaways. CUNA’s Small Credit Union Committee released a Small Credit Union Talent Strategy Guide. As we continue to hear about the “Great Resignation” and the pending retirement of many of the long-time CEOs in credit unions, finding replacement talent is a true challenge, but one that the guide suggests you are in a strong position to tackle.
Four unique challenges exist in hiring for your credit union:
- Finding people who are interested in working in a credit union;
- Having a budget that will allow paying a market wage in comparison with other jobs that may be available;
- Providing opportunities for advancement potential; and
- Accessing a strong pool of candidates, a problem in many smaller communities.
The guide goes on to note many of the benefits of working in a credit union, including the fulfillment that applicants may be seeking. “Leaning into the benefits that such a career offers is the key to small credit unions finding, attracting, and retaining talent that ensures their relevance and resilience for years to come” That sounds like a pretty solid outlook for your credit union and others!
You can take advantage of other resources from CUNA on their Small Credit Union Resources page. And, don’t let the word “small” fool you; there are nuggets any credit union can gain from the resources noted above!