Trellance Addresses Credit Union Talent Gaps
Credit unions are facing hiring challenges brought on by the pandemic.
Near the end of 2021, the U.S. Bureau of Labor Statistics reported more than 10 million job openings in the country – an increase of more than five million compared to the end of 2020.
While credit union employee numbers rose 2.6%, membership growth swelled 4% in 2021. Therefore, there are 401 members to every credit union employee. As credit unions are facing growing demands to hire more employees to care for the growing membership base, credit union service provider, and data analytics and business intelligence solutions organization Trellance announced a new tool to help bring professionals into the credit union industry.
On Wednesday, the Tampa, Fla.-based company unveiled its new Professional Staffing services, which aims “to close the gap by connecting credit unions with skilled talent using the more cost-effective and flexible ‘as-a-service’ model.”
According to a statement from the company, Trellance’s Professional Staffing service will focus on giving credit unions access to talent in highly-competitive areas such as software and data management technologies, data science, cloud migration and user experience.
Trellance President/CEO Tom Davis said, “Credit unions face stiff competition from new tech-first financial firms who are working aggressively to capture market share from traditional financial services, and too many credit unions are losing the battle. In this dynamic environment, they need advanced tech practitioners to become more agile in adopting new technology and responding to trends as they emerge. It can be challenging to bring these professionals in-house as full-time employees.”
In order to meet what Trellance expects to be “high demand” for the new talent services, the company is currently expanding its own internal staff to support the new offering. According to Wednesday’s statement, Trellance has also been piloting the Professional Staffing service with the $2.3 billion Credit Union of Colorado, based in Denver.
“Augmenting our team with experienced tech professionals from Trellance allowed us to seamlessly complete the development of new tools, even when faced with a staff shortage,” Terry Leis, President/CEO of Credit Union of Colorado, said. “We see it as another avenue that can help us more nimbly seize opportunities and respond to changes with greater ease.”