From the editor
Last month, CUES released a new member benefit called “Welcome to Credit Union Leadership: A Guide for Executives Who are New to the CU Industry.”
The 30-page printable PDF includes a history of credit unions in North America, an overview of the industry’s top challenges, explanations of financial organizations and regulations in both the U.S. and Canada, and quick definitions of key industry terms. Members can get the new guide by logging in at cues.org and selecting “Access My Benefits.”
In keeping with this idea, this month’s cover story explains why it is a good idea to expand your search to outside the credit union industry when filling an open position.
“In the current economic environment, with a 50-year low unemployment rate, the credit union world is pretty small,” says CUES member Kim A. Ross, CHRO at $2.2 billion Chartway Federal Credit Union, Virginia Beach, Virginia. “As each credit union grows, you need new talent and innovation. To survive, you have to continue to bring in new ideas.”
Beyond the compelling requirement to expand recruitment to fulfill demand, John Oliver, president of Laurel Management Systems, Palm Springs, California, cites the need “for bigger and different thinking.” For example, one of his client credit unions expanded its data analytics capabilities when it recently hired a business intelligence executive from a major grocery chain.
For more on casting your credit union’s recruiting net to a wider audience, read “Casting Your Talent Net.” And then, once you hire someone new, give them the “Welcome to Credit Union Leadership” guide.
Credit unions that want to start or enhance a business lending program frequently look outside the CU world for new hires. At $1.7 billion SELCO Community Credit Union in Eugene, Oregon, some of the 24 employees on the business services team were developed internally; others are former commercial bankers. That includes Craig Carpenter, SVP/lending and business solutions, who was an experienced lender with a regional commercial bank when he came on board to help launch member business services. Read how SELCO Community and other CUs are “drumming up business.”
P.S. Just as we sent this issue to press, COVID-19 was declared a worldwide pandemic. Schools across the world have been shut down and local governments are encouraging employers to set up telecommuting. CUES has created a web page dedicated to bringing you the latest on our response—along with resources to help your credit union respond—which we are updating on a regular basis; you can find it here. cues icon