This week, CreditUnions.com finds one credit union funding job training with a twist, another who hired a position to help staff deal with personal issues outside the scope of traditional HR concerns, poses a question to a third: What distinguishes great leaders?
Here are five can’t-miss data points:
As the only Community Development Financial Institution (CDFI) on the 120-mile stretch of Lake Erie shoreline from Toledo to Cleveland, Commodore Perry Federal Credit Union feels a particular tug toward addressing the economic barriers faced by its rural and small-town membership. That’s one inspiration behind the unique offering the cooperative just rolled out: a mix-and-match package of four loans aimed at enabling Ottawa County residents to pay for the training and certifications they need to get good-paying jobs.
Read: Funding Job Training With A Twist
American 1 Credit Union faces the same issues as any other credit union when it comes to hiring and retaining good employees, but one of its solutions sticks out as particularly innovative. The mid-Michigan credit union recently created the role of success navigator, someone who helps staff deal with personal issues outside the scope of traditional HR concernsincluding spending an estimated 25% on internal relationship building. What’s the role all about?
Read: What’s In A Name: Success Navigator
As a collaborative leader and social entrepreneur, Rob Miller believes in asking questions, allowing his team to develop their own professional capacities, and that more can be accomplished together than individually. He also believes in Vermont, which has felt like home from his college days at the University of Vermont to his work as a public servant, business professional, and now as CEO of the Green Mountain State’s largest state-chartered credit union for the past five years. Miller, the leader of Vermont State Employees Credit Union, discusses how his personal philosophy aligns with the values of member-owned cooperatives, what distinguishes great leaders, and why he sees enormous opportunity for our industry in the future.
Read: Rob Miller On Leadership
65 Basis Points
Credit unions have a business model distinct from other financial institutionsone in which members are owners, and their financial wellness is the credit union’s top priority. At the start of 2019, one clear priority for credit unions was enhancing the entire member experiencefrom opening a checking account, to applying for a first mortgage, and everything in between. It seems to be working, too, as credit union membership grew 4.0% year-over-year and share growth accelerated 65 basis points quarter-over-quarter. What else happened in first quarter?
Read: Credit Union Industry At-A-Glance (1Q19)
Credit unions change names for lots of reasons, including mergers and marketing and strategically rebranding themselves to better align with their base of current and potential members. Some credit unions have already made that move halfway through 2019, and others still will. Can you match these eight credit unions that have changed names or will yet this year with their new moniker?
Read more: New Year. New You.