Credit Unions Bridging the Gen Y/Baby Boomer Gap

by: Ronaldo Hardy, CEO, Shell Geismar FCU

We’ve all read the blogs about the breakdown in communication between Gen Y and Baby Boomers, but how often have we sat down to devise a strategy to bridge the gap? So much emphasis has been placed on the strained relationship between the two, instead of highlighting the value that each of them bring to the table. So let’s talk about how these two generations can come together to make a difference in the credit union industry.

Gen Y = The Innovator, The Challenger, Out of the Box Thinker, Lacks Experience

One of the greatest weaknesses of Gen Y is actually what makes them strong. Of course, Gen Y lacks the experience that preceding generations have, but it is the lack of experience that contributes to their witty ideas. The mind of a Gen Y’er has not been clouded or limited by failures of the past. Instead, they have a clear mind that allows them to see this industry through a different set of eyes. They are optimistic about the possibilities of what could be.

Baby Boomers = Wise, Strategic, Great Implementers, Experienced

Baby Boomers have lived through the many changes of our industry. They have weathered the storm. They can approach implementation strategically because of the experience they’ve gained through trial and error. Yes, sometimes experience limits their creative thinking, but their wisdom can help to navigate through difficult situations, and produce the best results.

Together = Innovative Ideas that can implemented strategically

The combined relationship of Gen Y and Baby Boomers is exactly what the industry needs. Together they represent new, fresh, innovative ideas that can be implemented well. The two generations need to work on communicating in order to produce the best results. Gen Y must recognize that while they may have a bright idea that could be cutting edge, they may need help to implement it. Baby Boomers must recognize that it is ok to not have the idea as long as they can make wise decisions to implement it successfully. In reality, both generations need each other. Working together is in the best interest of our individual credit unions, as well as our industry as a whole.

Here are some action steps to consider:

Gen Y

1. Seek out a mentor – This is someone who can help to guide your career, and give you the resources to make good decisions along the way.
2. Be teachable – No one wants to work with a know it all.
3. Share your ideas

Baby Boomers

1. Find someone to mentor – Give back by locating someone who could use your mentorship. Find ways to make them better.
2. Share your knowledge and experiences
3. Be open and listen to their ideas

Ronaldo Hardy is no stranger to the financial community. Though he originally started his career in banking ten years ago, he was bitten by the credit union bug when he joined La Capitol Federal Credit Union in 2004. During his tenure in the financial industry he has served in several roles including Teller, Personal Banker, Loan Underwriter, Member Service Supervisor, Electronic Services Supervisor, Branch Manager/Business Development Officer, Sales Manager, and he currently serves as CEO of Shell Geismar FCU.  www.sgfcu.com