Casting your talent net
Why, how and where credit unions are widening their executive searches.
As the financial services landscape expands its range of products and services, delivery channels, technological reliance, and new entrants and competitors, some credit unions are responding by widening their executive recruitment outside the movement.
For example, $2.2 billion/190,000-member Chartway Federal Credit Union, Virginia Beach, Virginia, has established as part of its value proposition a willingness to attract employees from different industries, says CHRO Kim A. Ross, a CUES member who worked for CarMax and Hilton before moving to the CU in October 2018. Of the six members on Chartway FCU’s executive team, four have experience from outside CUs.
“In the current economic environment, with a 50-year low unemployment rate, the credit union world is pretty small,” Ross says. “As each credit union grows, you need new talent and innovation. To survive, you have to continue to bring in new ideas.
“Attracting people from outside the credit union world brings different perspectives,” she adds. “Credit unions have to have the ability to attract people who bring in new ideas and to take advantage of the value of diversity. How can you think differently so you can differentiate?”
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