The Future of Credit Unions Depends on the Next Generation of Leaders

The Cooperative Trust and Crash program has been around for nearly 11 years. In the last decade, we’ve witnessed the evolution and growth of this community with an increase in community reach and impact – we have nearly 2,000 online community members and brought 231 emerging leaders to industry conferences in 2019. We’ve seen organizational changes and reaped the benefits of the leadership of Brent Dixon, James Marshall and Lauren Culp, who, through their collective efforts, have made The Cooperative Trust (The Trust) a self-funded program at Filene Research Institute. And through all of this change, the talent we’ve seen come through The Trust and Crash program has continued to thrive. We see past Crashers and Trust leaders moving into chief and executive positions at an ever-increasing frequency; a trend we only expect to continue.

Having been with Filene for two and a half years, I’ve traveled to many conferences, and one of my favorite activities during a networking break is to ask people what they know about Crashers or The Trust. I find it interesting that The Trust and Crash has been around for a decade, and there still seems to be confusion about what these programs are, and why they are so vital to the credit union industry.

And yet, as a past GAC Crasher, I’ve experienced first-hand the benefits of the program. As we prepare for this year’s CUNA Governmental Affairs Conference, here are three reasons Crashing and The Cooperative Trust are vital to emerging leaders, your credit union and the industry.

1. We Make Decisions with a Diversity, Equity and Inclusion Lens

We all know that diversity, equity and inclusion (DEI) are imperative strategies to employ at our credit unions. Not only does it make good business sense, but plain and simple, it’s the right thing to do. A 2018 McKinsey report, “Delivering Through Diversity,” shared that companies in the top quartile for leadership team cultural and ethnic diversity are 33% more likely to outperform on profitability. If we consider gender diversity at the executive level, top companies were 21% more likely to have above average profitability. But more than profitability and dollars, a DEI lens leads to more creative ideas, better teams and an experience more aligned with the members and team member your credit union serves.

As we think about The Trust community and Crashers, we believe in the importance of surrounding ourselves with people from different backgrounds, genders, races, religions, industries … everything! We consider the diversity of Crash groups, Crash mentors, guest facilitators, speakers and vendors when we make decisions. We want every person to feel included and welcome. We aren’t perfect and have a lot to learn, but we are eager to support all humans who believe in cooperative finance. This DEI mission will only be further supported by Filene’s newest Center of Excellence: Diversity, Equity, & Inclusion.

2. National Exposure to Top Leaders, Organizations and Communities

Those who experience Crash are exposed to credit union, CUSO and fintech leaders in an intimate environment. Let’s take Crash the GAC for instance – Crashers go to all the conference sessions and receptions; and, Crashers also have special content. During breakfast, lunch and directly following the days’ sessions, Crashers are talking to the leaders of the credit union industry. They’re asking questions, getting advice and cementing their place in this industry.

Crashers are also exposed to the available credit union education, leadership and innovation programs, such as Credit Union Development Educators, Filene i3 and CUNA Management School. They have closed sessions with academics like Filene Fellows Hope Schau and Sekou Bermiss, where they hear the latest research right from the source. Crashers walk away knowing they have more development resources and connections to help them further develop.

The Trust provides a platform for community members to ask questions, share processes, source YP group bylaws and more. We highlight past crashers and invite everyone to share their experiences through blog posts and through live interviews on the Filene Fill-in podcast. If you, your credit union, or your YP group is looking to share best practices or explore new ways of doing things, this online community is a resource for you.

3. Tactical Professional Development

When most leaders talk to Crashers, they provide amazing insights about all they’ve learned through the years. In these sessions, we discuss the importance of a few things: Mostly soft skills like networking, promoting your ideas or yourself in effective ways, and mentoring. What we often learn is that some Crashers have had very few, if any, opportunities to build a network outside their credit union teams and departments. We also find that Crashers are challenged when telling their story – while they’ve accomplished so much, their curious and humble perspective sometimes stops them from sharing it.

Soft skills are integral to our professional lives, yet, these are not the skills taught in school. We know some credit unions have such training programs, but developing this competency can be a challenge for smaller shops. The Trust builds content around these areas to ensure Crashers are prepared not only during the conference, but after they return home and then some. We host sessions on networking, selling ideas to your boss, code-switching and being an authentic leader. A 2017 iCIMS Hiring Insights report found that “94% of recruiting professionals believe an employee with stronger soft skills has a better chance of being promoted to a leadership position than an employee with more years of experience but weaker soft skills.” We’re committed to providing opportunities for Crashers to develop these skills so they can fully emerge into the leaders they are.

The topic of mentoring comes up at every Crash. Every great leader mentions their team of mentors who guides, challenges and supports them. Good mentoring can lead to better career success through promotions, compensation increases or other opportunities for connections made from the relationship. Often, Crashers meet mentors organically, while they’re out testing their networking skills. Other times, The Trust and conference partners like CUNA Councils or CO-OP THINK create mentor/mentee pairs and time for networking.

To provide additional support for emerging leaders, The Trust created a mentorship program in 2018 that recently completed its second phase with plans for a phase three launch later in 2020. The Trust has developed a unique ability to connect rising talent with really awesome, dedicated and hard-working credit union leaders who want to see the next generation of leaders succeed.

Here for Another 10

We’re hosting our 11th Crash the GAC February 22-27, in Washington, D.C. Through all the change, one thing still remains: The Cooperative Trust will continue to be a platform that amplifies the voices of emerging leaders, rising talent, YP groups and all who are 35 or younger at heart in the credit union industry – those who not only want to challenge the status quo, but show up and be part of a community that makes the change they envision a reality.

As The Trust and Crash enters the next phase, I encourage community members to push boundaries and ask what more you can do to serve your members, team and communities. The Trust is your platform and your megaphone. We exist to connect people and resources together. We exist to be the top resource for credit union emerging leaders and young professionals across North America.

Cortney Angeley is Director of Community Development for Filene Research Institute in Madison, Wis.