MADISON, Wis. – A mentorship program designed to develop the next generation of credit union leaders will be crashing the Herb Wegner Awards this year.
To recognize the “boundless generosity of time, money, energy and spirit in providing growth and development opportunities for young credit union professionals,” The Cooperative Trust from the Filene Research Institute has been selected as the 2017 Herb Wegner Memorial Outstanding Program Award.
With the winners now announced, the National Credit Union Foundation, which hosts the awards, has begun releasing additional information around why each was selected for the honor.
“I can say that as many of my peers prepare to exit the credit union movement, we have wondered who will follow these former leaders and ensure that Filene and Bergengren’s desire of credit union philosophy remains strong into the future,” said John Gregoire, chair of the Foundation’s Wegner Awards Selection Committee and president of The ProCon Group. “We were initially taken back by the term ‘crashers’ only to find this has become a group comprised of incredible energy, valuable insight and truly future leaders. They are without question a ‘thunder punch’ to the credit union movement.”
According to the Foundation, The Cooperative Trust’s most significant initiative is the Crash program, which provides scholarships for young credit union professionals to attend the industry’s biggest events. Nicknamed “Crashers,” recipients of the Crash scholarships take part in a specially designed curriculum of sessions and activities at these events and get to network with the more experienced professionals in attendance, the Foundation noted.
Currently, between 12 and 15 Crash events are held per year, with attendees from all 50 states participating in the program in each of the last three years. For Crash the GAC, The Cooperative Trust’s biggest event, more than 150 young professionals have been able to attend CUNA Governmental Affairs Conference each year since 2010, the NCUF reported.
'Demonstrably Positive Effect'
“Research conducted by the Filene Research Institute reveals that Crash programs have a demonstrably positive effect on their participants,” the Foundation said. “For example, 95% of participants in Crash the GAC said the experience increased their interest in furthering their career in the credit union industry, while 90% said it made them more likely to tell their members about the good credit unions do. With this increased enthusiasm, Crashers help convince more consumers in their age group to join credit unions, enhancing the long-term viability of the entire movement.:
The Foundation added that Crash events not only stoke enthusiasm for young professionals’ enthusiasm for credit unions but also for further professional development. Crash events are often treated as a precursor for the Foundation’s Credit Union Development Education (CUDE) program, where professionals master the movement’s core principles and learn how to spread the credit union message.
“I ‘Crashed’ the GAC in 2011 [when] I was the Chief Financial Officer at Mazuma,” said Brandon Michaels, president/CEO of Mazuma CU in Overland Park, Kan., in a statement. “The experience reignited my passion for the industry and jump-started my quest to becoming one of the youngest CEOs of a midsize-large credit unions in the country. I can say that, without a shadow of a doubt, my involvement in The Cooperative Trust positively impacted my candidacy for President/CEO.”
The Foundation said that Crash events are only one part of The Cooperative Trust’s professional development efforts; the organization also facilitates mentorship opportunities that connect young professionals to senior leaders. “The Cooperative Trust leverages its extensive network of credit union veterans, who volunteer countless hours each year to share their wisdom and experience during special sessions and events for young adult members,” the NCUF added.
A Popular Offering
According to the Foundation, since they were introduced at Crash the GAC, these mentorship events have become one of The Cooperative Trust’s most popular offerings to members. Representatives from a wide range of credit union and financial services organizations currently participate in their mentorship programs, including staff from CUNA, CUNA Mutual Group, the World Council of Credit Unions and Fiserv, among others.
The model of mentorship provided by The Cooperative Trust has also inspired credit union groups across the country to pursue their own similar programs. In 2014, GAC Crasher Nick Fugal encouraged the Idaho Credit Union League to create their own professional development organization, Climb Idaho, which creates mentorship opportunities for young credit union professionals.
“None of [Climb Idaho’s] events were more telling than our CEO Roundtable… where [24 young professionals] were able to socialize, ask candid questions and receive honest professional advice and feedback from key industry leaders,” said Brian Rich, marketing coordinator at Icon CU in Boise, Idaho. “Simply put, none of this would have been possible without The Cooperative Trust.”
The Foundation said that through both their events and mentorship sessions, The Cooperative Trust unifies the credit union system by fostering collaboration between credit union professionals, organizations and vendors. For events like Crash the GAC, CUNA supplies scholarships, CUNA Mutual Group provides expert speakers, and representatives from Fiserv and PSCU attend to facilitate positive learning experiences for attendees.