While a bank’s greatest interest is generating profits for their shareholders who can be located anywhere in the world, credit unions are only interested in keeping money in the pockets of their credit union members, in the communities they serve. Concern for community is one of the 7 cooperative principles. A Credit Union’s members are also members of the community, so it makes sense that they operate while keeping the best interest of the community in mind.
Credit unions support communities not only through financial means, but also through their employees. Most credit unions offer employee volunteerism programs and events and are an excellent mechanism for credit unions to weave in their purpose driven practices while connecting employees to their brand purpose and values. Whether it’s through financial literacy events, local events, or simply volunteering their time and skills to worthy organizations, these volunteering efforts make up a big part of the credit union difference.
These programs are also a great way for credit unions to support organizations and charities that reflect the values of their members.
How To Manage an Effective Employee Volunteer Program
To put an effective employee volunteer program in place, it’s important that the program be flexible. Unless it’s an event or a financial literacy program with a specific organization being supported, your program should recognize and capture how your people support local organizations that matter to them. Over time you’ll be able to see trends in the types of organizations that people are supporting, and this can influence the programs you put in place moving forward. The more flexible your program is, the more likely it will be engaging enough to increase participation.
In the case of a volunteer program, it’s important that you define a set of guidelines around when your people can volunteer their time. You can decide whether you offer opportunities for paid volunteer time off (PVTO), or simply decide to recognize how they volunteer on their own time. Many credit unions decide to measure both.
Set a Goal
Unless it’s your first year managing your program and you’re looking to develop a benchmark for your team’s impact, your program should have a goal associated with it. Goals are important because they keep your team aligned and motivated. They also provide your team with a number to work toward that they can measure their progress against.
This is an important point that many organizations take for granted. Most credit unions start out by using spreadsheets and email to manage programs and collect their impact metrics. Implementing technology to manage your workplace volunteering and community impact programs can take your program from good to great. Technology like the Porpoise platform can be used to raise awareness, increase participation and engagement, and measure the impact, results, and success of your program.
Once you’ve successfully implemented and managed your employee volunteer program, one of the best things you can do is celebrate that success. Celebrating your organizations community investment both internally and externally is the best way to share how your credit union gives back. Your community commitment could be your greatest mechanism for attracting and retaining new employees and members!
Credit unions are a force for good in the communities they serve. By managing an employee volunteering program effectively, you’ll be able to maximize and measure the impact that your credit union creates. Following the above tips can make a difference in the your organizations efficiency and impact in fulfilling your mission. How does your credit union impact the communities and member that you serve?