How do credit unions cope with staffing difficulties?
Texas and DC credit union managers share how culture and flexibility help them hire in a competitive market.
The U.S. Bureau of Labor Statistics reported on Sept. 8 that nationwide job openings increased by 749,000 in a single month to a record high of 10.9 million at the end of July.
The credit union industry is hardly alone in feeling the pain of empty positions going unfilled as pandemic-fueled fears keep workers at home or out of the workforce. However, quite a few cooperatives have managed to keep up. According to data from Callahan & Associates, of the 1,799 credit unions with $100 million or more in assets in the second quarter, 918 reported positive growth in full-time equivalent employees from the same quarter last year, ranging from 0.09% at Mission Federal Credit Union ($5.0B, San Diego, CA) to 110.69% at Charlotte Metro Credit Union ($1.0B, Charlotte, NC).
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