
Yesterday, I was in Kingsport, Tennessee to speak at the Tennessee Credit Union League CEO Conference. Much love to Trish Patterson for inviting me to participate in the conference! I feel so lucky to have met Trish as she is one of the most fun conference organizers I’ve ever worked with. She also reads my blog, which is how she found me. Social media FTW! Anyway, one of the things Trish brings to the League in her role as VP of Education is her desire to share new perspectives and innovative ideas with leaders in the credit union movement. Still, I was surprised to be asked to be a part of their event as I really have no connection with the financial services industry. Like, at all. I mean, I’m a member of a credit union, but yeah . . . that’s about it. I quickly got excited, however, when I began researching the League and its members because I realized that the credit union folks are facing the very same challenges as the nonprofit sector in general.
An Evolving Industry
Like the nonprofit sector, credit unions (credit unions are also nonprofits by the way, though how they are regulated is considerably different) began more as a social endeavor back in the day with a group of passionate people who wanted to create a different approach to community banking. That’s why many longtime leaders refer to it as “the movement.” Over the past 45 years though, the credit union movement has changed and evolved from a grassroots effort to a more corporate approach. Where before credit unions were a commodity, now they face more competition from banks and the threat of stiffer regulation from lawmakers. They also struggle with staffing issues and being able to recruit and retain talented employees while dealing with the rising cost of health benefits and compliance mandates. Sound familiar?
Young People Want to Work at Credit Unions
Well, with a 13.4% unemployment rate for Generation Y, you might say that young people just want to work, period. But the evidence points to a deeper commitment to the credit union industry by young professionals who like the idea of a financial institution with a mission to help people, not hurt them. Indeed, the myriad of young credit union professionals that I found in my research drove home the point that even given the industry’s challenges, a new generation of leaders is prepared and even eager to take them on. Here are just a few:
A group of young credit union professionals catalyzing the movement through meetups, development projects, online collaboration, and mentorships.
Credit Union Association of New York Young Professionals Commission
The Credit Union Association of New York formed the Young Professionals Commission (YPC) to develop strategies and practices that will assist the Association and credit unions in recruiting young adults as employees and volunteers and in developing and promoting them into positions of leadership within the New York credit union community.
Mid- America Credit Union Association Young Credit Union Professionals Network
YCUP Network is dedicated to increasing social, professional, and service-related opportunities for young credit union professionals in North and South Dakota.
Young Credit Union Professionals Portland
Young Credit Union Professionals was founded to encourage the voices of young professionals within the credit union movement. Our mission is to recruit, develop and retain, young talented professionals within the industry by engaging them in education, advocacy and growth opportunities.
How to Engage Generation Y Leaders in the Credit Union Movement
I shared a number of ways that the credit union industry might begin to better engage younger leaders that fell into three broad categories.
1. Give them a voice. The ORNL Federal Credit Union does just that with their Young and Free Tennessee Initiative, that aims to give the 15 to 25 crowd a voice, a head start and useful information. And that’s not just marketing rhetoric. Young and Free Tennessee even has an official spokesperson, 22 year old Alex Oliver. When you give young credit union advocates and supporters a way to connect with each other and be heard by the institutions themselves, you create evangelists for the movement as well as potential leaders and volunteers. To give young people a voice in your organization, set aside time at a weekly (or monthly) staff meeting for “brainstorming ” where you can ask them for new ideas to move the organization forward.
2. Give them something to do. Most credit union CEOs are Baby Boomers or Matures and have been in the business for decades. This can make it difficult to share leadership with younger staff, especially since many older leaders feel put off by the younger generation’s heavy reliance on technology for communication. Yet, reverse mentorship can happen when young people are given the opportunity to show older leaders how technology can be used to create innovation and even cost-savings for the organization. Beyond technology though, it’s also important to pass the torch as much as possible in decisionmaking. Give young people leadership opportunities (not busywork) where they have a very real possibility of failure. Consider allowing junior staff to lead meetings, manage an important project from start to finish, or help create new programs for members. Whenever you give young people more responsibility (and support) in the workplace, most will go above and beyond to succeed so they can make you, and themselves, proud.
3. Give them recognition. Feeling appreciated is important for leaders of all ages. For young people in particular, it shows them that they are on the right path to a great career that rewards their hard work. One great example is the Michigan Credit Union League, which accomplishes this with a Young Professional of the Year Award that recognizes an affiliate credit union professional under the age of 40 who has proven dedication and enthusiasm for the credit union movement. This year, the Credit Union Executives Society even sponsored a contest called “The Next Top Credit Union Exec.” Very cool! And speaking of recognition, the two guys behind the 2 CU Guys blog have been doing a great job using social media tools to highlight the work of emerging leaders in the credit union industry. Their site is well worth a read and a bookmark.
It was an honor to be able to step into the world of the credit unions for a day and offer insight on how they can engage young professionals in their work, now and in the future. What I keep hearing, time and time again is that ALL industries are dealing with similar organizational issues and are in dire need of the kind of leaders who are up for the challenge.







