The credit union landscape is rapidly changing.
The competition for top talent is fierce.
Combine these two thoughts and it’s not surprising that some credit unions are widening their executive searches, interviewing leaders from outside the industry and sometimes hiring them.
“I think every industry can sometimes get too caught up in industry experience when they hire to fill positions. It’s not like you’re born with credit union experience. I am the firmest of believers that you hire first for cultural fit, second for talent, and then third for industry and technical skills. Talented people who are a cultural fit can be top-level contributors in any organization.”
Notably, McCarthy joined Del-One FCU in April 2019 from his previous post as COO of a regional real estate development and construction company.
CUES recently took a deep dive into the experience of leaders who’ve been hired in from outside. The result is a new benefit of CUES membership, “Welcome to Credit Unions: A guide for executives who are new to the CU industry.”
If you’re hiring leaders from other industries—or if you’re drinking from the new-to-CUs fire hose yourself, this guide is designed for you.
The printable PDF starts with an explanation of the basics of credit unions in both the United States and Canada, including their “people helping people” philosophy, the legal foundations on which they’re built, and the strategic challenges and opportunities they face.
Credit union leaders interviewed for the guide describe their experience in coming in from other industries. All say they love where they have arrived and talk about what helped them adjust to the differences—and to be the most effective in their new roles.
To help leaders new to our industry get familiar with credit union lingo, the guide includes a list of key terms—spelling out credit union regulatory agencies, associations and organizations; key laws; and such common but industry-specific phrases as “credit union service organization.”
CUES is here to help credit union leaders and aspiring leaders—whether new to CUs or industry veterans—reach their fullest potential. Check out all our membership options and offerings.