Back-to-school season is over, but that doesn’t mean credit unions have forgotten the importance of a good education and the right training. That’s why this week, CreditUnions.com is exploring the talent development philosophy and strategies of for credit unions across the country.
Wyoming-based Warren Federal Credit Union started shifting its culture in 2009 and in doing so found it needed to re-evaluate its training programs. In 2010, it launched an in-house coaching program for managers that combines best practices from a globally recognized talent management program with modules created specifically to address the distinct problems and opportunities of Warren and its cooperative credit union business model. The program was such a success, it didn't take long for Warren to expand the scope and include more than just managers. To learn more about the program and for tips on how to run an in-house program, read Service With A Set Standard.
Purdue Federal Credit Union added depth to its teller training when it launched its Growth Opportunity Leadership and Development program in early 2013. The Indiana credit union developed GOLD to better engage entry-level staffers and show more experienced employees the possible career paths they could explore. For the credit union, GOLD is helping it move toward the universal employee it aims to eventually embrace across its member-facing staff. Read about GOLD’s five modules and the ways in which Purdue is continually improving the program today on CreditUnions.com. And for credit unions interested in developing something similar within their institution, there are two sample module scorecards that show how Purdue FCU tracks employee progression.
It might come as no surprise that Wisconsin-based Educators Credit Union, a financial cooperative known for big ideas, goes all out for its talent development, too. The credit union’s Leadership Educators program gives employees with aspirations for career advancement the chance to develop new product and service ideas, drive process improvements, and forge new career paths. Today, more than half of the 60-plus program graduates hold higher positions than they did before they started the program.
“We go beyond developing skills in the C-suite and have focused on providing educational resources and opportunities for all of our employees,” says Peter Stein, the credit union’s vice president of human resources. Learn more in this week’s Q&A.
For those credit unions that believe the humanities as much as the hard sciences can inform financial services strategies, you’re not alone. Member One Federal Credit Union in Virginia has developed a program that embraces the soft skills necessary to thrive. Its Member One University offers a full curriculum of business lessons and best practices from historical figures and literature. Read more about that in Shakespeare In Sales.
Finally, for an at-a-glance look at the state of education in the United States, check out the Graphic Of The Week, Educating A Nation.