By Sarah Snell Cooke, Principal, Cooke Consulting Solutions

Credit unions must take two key steps to attain kick-ass leadership from the next generation: Recruit better and train better.

That was the primary conclusion of the Kick-Ass Next Gen Leadership speed-dating table at the Underground Collision, according to Catalyst Corporate FCU CEO Kathy Garner, who led the discussion. Once credit unions bring new employees into the fold, they must also mentor and coach them better so they can see their way to a career path in credit unions, even if it’s not the same one.

Catalyst Corporate FCU CEO Kathy Garner with Brandi Stankovic of Mitchell, Stankovic & Associates, which hosted the Underground Collision May 8 at Penthouse 45 in New York City.

Credit unions, in general, get bits and pieces of the recruiting or mentoring process right, but few do a comprehensive job and really kick ass. Garner explained that the group concluded that credit unions need to get much more aggressive at recruiting from colleges and business schools. They’re often focused on hiring someone with 10 years of experience, but there’s a value in hiring someone brand new and molding them.

“Credit unions need to employ and engage more with younger employees to prepare them for leadership roles,” Garner said. “One recruitment avenue that many credit unions don’t take advantage of is on college campuses in their areas.”  

Don't miss this earlier content from the May 8 Underground Collision on member activation, disruption, collaboration and mergers.

Once credit unions get employees into the system, the group said they could do a better job of investing in them by creating a more concrete career path, Garner recalled. Formal mentor programs can be a good start, although some believed a mentor-mentee relationship needed to happen naturally. Still, a system should be set up to help younger employees understand the credit union spirit and show them how they can make a career in credit unions. For example, she said, don’t make an accountant just do accounting all day; give them the opportunity to work on the community impact piece. “It’s very important to keep good young talent is to exhibit the credit union’s impact on the community and allow them to be involved,” Garner said.

Garner pointed out, while an employee may not stay at one credit union, they often take opportunities at other credit unions to advance their careers. She added that some may have to change jobs because their spouse got a job somewhere else, and it’s important to try to help that employee try to find work at another credit union where they’re heading. Garner said she helps connect credit union employees that are moving in this way.

Credit unions traditionally have not invested heavily in human resources, and when the economy crashed, resources became even scarcer. “We like to think of ourselves as people organization, but as we’ve become more complex and compliance is more difficult…it’s tough to stay member focused and employee focused,” Garner lamented. But, management schools in the credit union market, which are solid learning programs, are also very expensive and a significant time commitment, she said.

Jill Nowacki, president/CEO of the Credit Union League of Connecticut, said during the discussion that her organization was trying to take the lead on the local level for her member credit unions, according to Garner. She acknowledged that’s absolutely an appropriate role for the leagues, but even turn out at chapter meetings, which is a very inexpensive way to get some education, seems to have declined. Lacking other resources, implementing a regular feedback loop for employees beyond the annual review can help them to feel invested in and that they’re receiving training and guidance, she said.