ALBANY, N.Y.–A new study, white paper and toolkit designed to help credit unions attract, retain and prepare the next generation of industry leaders has been released by the New York Credit Union Association and its Young Professionals Commission.
The study included a month-long online survey conducted in March 2015 with participants—ages 21-35—from a range of states, industries and professions. A total of 143 young adults participated, answering questions about job satisfaction, career plans, factors influencing employment decisions, desired supervisor qualities, and their current levels of awareness/engagement.
At the time of the study, 85% of respondents were employed by a credit union, 95% had completed at least some college and 71% had an associate degree or higher.
“Between the high participation levels and the quality of the responses we received, it’s clear that our young professionals want to make a real difference for their credit unions and their members,” said NYCUA President and CEO William J. Mellin. “The question is, ‘What can we do to help make that happen?’ As an association, we felt it was important to shine the spotlight on this issue and help clarify some best practices and strategies.”
In the white paper, “Your Credit Union’s Future Leaders: Finding Them, Keeping Them & Helping Them Reach Their Fullest Potential,” NYCUA and the Commission encourage current credit union leaders to:
- Know their audience and understand the needs and goals of who they are recruiting.
- Develop a multifaceted recruitment plan by using a variety of channels and engaging current employees as ambassadors.
- Assess employee satisfaction.
- Provide the right kind of supervision and understand the supervisor qualities deemed most important by young professionals.
- Help employees connect, grow and shine.
In addition to these recommendations, the paper also highlights specific opportunities (both in New York and nationwide) that are currently available to young credit union professionals, according to the NYCUA.
“As credit union leaders work to build and cultivate relationships with young professionals, we hope this paper will help spark meaningful dialogue,” said Mellin. “We also want it to be a useful guide, which is why we included so many specific opportunities and ideas.”
In addition to the white paper, NYCUA and the Commission developed a Young Professionals Toolkit with resources to help young professionals connect, grow and lead in the credit union movement.
The white paper, toolkit and additional information about the study are available on NYCUA’s website.