It’s Time to Shine at Work, but at What Expense?

If you’ve been reading CU Times for a while, you know that our People column – a smiling headshot-filled collection of new hires, promotions, retirements and honors that runs on the last editorial page in every print issue and online on Mondays – is a mainstay of the publication. When the world turned upside down in March, and we weren’t yet sure how the economic crisis would impact credit unions, we were concerned that these career-related announcements might fizzle, and we actually brainstormed what in the world we could start filling that page with instead.

It has been a relief to see these announcements continue to roll into our inboxes, proving that despite being in the middle of a pandemic, credit unions are in a position to move their greatest assets – their people – on an upward career trajectory. Industry professionals don’t have to abandon their dreams of advancement and settle into stagnancy, because credit unions appear to being doing well enough to develop employees and even hire new ones. We have yet to hear of a mass layoff event at a credit union (at least not one that has been announced publicly); in fact, just last week we learned that VyStar Credit Union ($9.5 billion, Jacksonville, Fla.) was looking to hire 50 new contact center employees. And in the most recent Trendwatch webinar presented by Callahan & Associates, steady employment numbers were revealed, with credit unions reporting 305,100 full-time employees and 22,400 part-time employees as of June 30, representing 1.9% growth over the previous 12 months.

Our industry is in a fortunate position, but like anyone who has remained gainfully employed throughout this dumpster fire of a year, credit union ­professionals might feel a tinge of survivor’s guilt when they consider all of those whose careers have come to a halt. People like restaurant and bar workers. Retail associates. Nail technicians. Flight attendants. Hotel and resort staff. Film and television crew workers. But here’s the silver lining of that guilt: All of those unemployed people are potential credit union members, and now is the time for professionals in our industry to step forward and offer financial help like never before.

Many of them already are. Between fielding a skyrocketing volume of calls when branches were closed, to reconfiguring branches to meet safety standards before they reopened, to assisting business members with Paycheck Protection Program loans, many credit union employees have been putting in some long, stressful hours.

And that’s a problem. Employee burnout was a common issue before the pandemic, but now, there are reasons behind employees’ need for a mental break that didn’t exist then. Their new sources of anxiety and depression include navigating incomprehensible back-to-school plans for their kids, being separated from a loved one in a senior living ­facility or overseas, and the possibility of contracting COVID-19, just to name a few. Plus, many of the ways people decompressed after an intense day or week of work are no longer available. You can’t safely go to a bar and let loose for a night. You can’t cheer on your favorite sports team live in an arena. You can’t even plan a proper vacation to look forward to (unless camping has always been your idea of a proper vacation).

In a panel discussion last week during CUNA Mutual Group’s virtual Discovery 2020 conference, CUNA President/CEO Jim Nussle told a story that spoke to the fact that allowing employees to work long hours during the pandemic has been a double-edged sword for credit unions. The story was about a small business owner who switched from their community bank to a credit union based on the fact that they received an email from a service representative at the credit union at 1:30 a.m. with an answer to their question.

“The good news is that we got a new member, and that’s great, we celebrate that,” Nussle said. “The challenge, of course, is, what in the world were they doing up at 1:30 in the morning answering those questions? Well, we know, it’s because we do things ­differently, and I recognize that, but we do have to figure out how to put new boundaries in place, and new ways to operate in this environment so that we don’t burn people out, because we want to be there tomorrow, to be able to serve the next member that needs our help.”

I get why this employee was working in the middle of the night. With everything going on in the world, going all-in on work – especially the type of work that makes a difference in others’ lives – provides a sense of purpose and serves as a welcome distraction. They may also be having a tough time separating their work life from their home life, which is a common challenge for new remote workers. But maintaining an “always on” work schedule isn’t sustainable, and credit union leaders must consider their employees’ mental health needs during this hectic time.

During Callahan’s Trendwatch webinar, Commonwealth Credit Union ($1.5 billion, Frankfort, Ky.) Culture and Values Officer Travis Flora gave an example of what that looks like. He said Commonwealth gave each employee 10 paid “COVID days,” plus a paid mental health day in April and May, to do whatever they ­needed to do for themselves or their family. The credit union also embraced flexibility when working with newly-remote employees. “Some of those who were working at home had dogs or childcare issues, so we learned to be flexible if a child walked into the room or a dog started barking, because we knew this was an emergency situation,” Flora said. “We gave them breaks and offered forgiveness.”

With much of the economy still being held up by stimulus money, we don’t know where it might be headed next, but all signs indicate that credit unions can expect to be busy for the foreseeable future. Now is a good time for industry professionals to go full throttle in their careers, because their members need them more than ever (and let’s face it, with all trips and events cancelled, what better way is there to spend the time?). But they must be conscious of the toll it might be taking on their mental health. Our minds need vacations to function at their best, even if we have nowhere to physically take them.

Natasha Chilingerian is executive editor for CU Times. She can be reached at nchilingerian@cutimes.com.