Small Credit Union Strength Lies in Recruitment

Small credit unions face no shortage of challenges. Smaller budgets, outsized regulatory burden, training challenges – the list goes on. For all the challenges, though, small credit unions remain passionate and responsive, creating solutions for members that continue to raise the bar in our movement.

Smaller credit unions may not always have adequate resources to invest in our staff, but that doesn’t mean that we should wave the white flag when it comes to winning the war for talent.

The CUNA Small Credit Union Committee spent the last year studying the labor market and using our findings to reframe how small credit unions can competitively and creatively insert themselves into the market.

While on the surface it may seem as hard as climbing Mount Everest, the very features that make small credit unions unique to our communities are the same features that make for such an appealing career opportunity.

It starts with illustrating the credit union difference. In the communities where we shine, our not-for-profit, member-owned structure, coupled with our mission to improve financial well-being for all is in absolutely every aspect of our work. That difference is as inspiring to prospective talent as it is to our members.

Talent recruiters are quick to point out that job seekers visualize what their life will be like after they take the job. Reinforcing our mission-driven purpose may appeal to job seekers who want to align their work with their values. Countless people across the country are leaving higher-paying jobs for work they deem more personally fulfilling. Small credit unions can and should lean into the fact that employees want to feel deeply connected to the work they do and the impact they make on members and communities.

Another strength that our institutions offer is potential for advancement. Employees at small credit unions wear many hats, giving employees the opportunity to build new skills and grow as professionals.  Organizational structures also tend to be flatter, providing staff with the ability to interact with and learn from CEOs and other C-Suite leaders in the organization.

This flat structure can help us be more intentional about recruiting a more diverse, equitable and inclusive workforce. Supporting multiple departments means that our hiring managers can see and hear from the members we’re serving every day. We understand who it is in our community and, by the same token, who we can better serve. By recognizing these blind spots, we can be more intentional about reaching out to – and recruiting talent from – the very groups we may not yet fully serve.

Creating a diverse and more representative staff ultimately strengthens our bottom line, too. It’s well-documented that diverse teams perform at a higher level than those that remain homogenous. A diverse recruitment strategy expands the candidate pool and increases the odds that a credit union will find the right person for the role.

The CUNA Small Credit Union Committee acknowledges that finding, hiring and retaining top talent at smaller credit unions can be challenging. But there are tools and tactics that credit unions can deploy to remain competitive. In our new resource, the CUNA Small Credit Union Talent Strategy Guide, we provide a myriad of ways for small credit unions to stand out in the eyes of much-needed prospective talent.

Dedicating so much effort to talent identification and recruitment is certainly a challenge, but it is one of the most important investments we can make as small credit union leaders. After all, today’s new hires will be tomorrow’s small credit union leaders.

Amy Brodersen is president/CEO of the $40 billion, Omaha, Neb.-based Family Focus Federal Credit Union and chair of the CUNA Small Credit Union Committee.