Small credit unions face many challenges these days to keep pace in a hotly competitive market and to recruit talented employees. HUD Federal Credit Union has launched an initiative to deal with the latter of those difficulties as a long-term play to address the former.
The $45 million, 5,000-member credit union based in Washington, D.C. is developing ambitious internship and management training programs designed to provide hands-on learning and match trainees with seasoned industry mentors.
Paid, part-time internships are offered to college students whose courses of study and career goals align the HUD FCU’s needs. When they graduate, interns will be considered for a program that offers a “passport to executive management” with training across eight core disciplines: accounting, administration, compliance, data analytics, HR, IT, lending, marketing and business development, member services and operations.
Interns and management trainees work alongside the credit union’s 12 employees and also benefit from the expertise of “consultants,” long-time credit union managers who are seeking new opportunities in the wake of mergers, starting their own businesses or moving toward retirement.
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