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Credit Union Jobs

3 Most Wanted Credit Union Jobs

Credit Union Jobs

Credit Unions have changed their strategies and landscape over the last decade. As I recruit for financial institutions, I’m discussing the hiring pain points of many hiring managers in today’s tight market. These are the top three credit union jobs my clients are in need of in this candidate-driven market.

Loan Officers

According to the Bureau of Labor Statistics, employment for Loan Officers is expected to grow 11 percent from 2016 to 2026. Loan Officers have a significant impact on revenue, especially if they farm that customer relationship. If a Loan Officer gets a customer to switch over to the bank or credit union for all of their banking services, they will generate more revenue for their employer. So, whether it’s a Mortgage, Commercial, or Consumer Loan Officer, this position is essential to financial institutions all over the country.

Information Technology

Just 15 years ago, more than half of all banking transactions transpired inside of banking branches, face-to-face. However, that number fell to below 10% in 2019. Financial institutions are continuously needing to make the shift to keep up with the digital era. Therefore, the need for specialized IT folks is in high demand. We see positions often anywhere from Help Desk to System Administrators, all the way up to CIO positions.

I personally am seeing numerous IT changes emerge throughout my clients’ teams. The great thing about these candidates is that their skills are transferrable across any industry! In other words, there are tons of great IT professionals out there. However, they may be difficult to recruit in today’s challenging job market without partnering with an expert. My team and I have a wealthy network of IT professionals with banking experience. And they are exclusively looking for their next opportunity through us!

Financial Analysts

Similar to the first two positions, employment for Financial Analysts is expected to grow 11 percent from 2016 to 2026, according to the Bureau of Labor Statistics. There aren’t a plethora of candidates with this skillset, typically because my clients look for someone with banking or financial services experience.

Let us help you navigate this tight market

If you’re a hiring manager at a Credit Union, I’d love to have a conversation about the candidates I’ve been working within these areas. Or, if you’re a candidate looking for your next opportunity, reach out to me and my team! I would be happy to discuss any opportunities.

Millennials

Financial Institutions Must Change to Attract Millennials

Millennials

Millennials make up the largest portion of the workforce today. Banks and credit unions must change the way they attract and retain talent, especially when it comes to Millennials. Many Baby Boomers are reaching the retirement age. In fact, 10,000 Baby Boomers are retiring per day. Millennials are stepping in to fill that void. By 2025, it’s expected that Millennials will make up 75 percent of the workforce. With Millennials responsible for such a large percentage of the workforce, banks and credit unions must change to accommodate them.

The 2018 Bank Director Compensation Survey shows that about 83 percent of banks have changed their approach to attracting and retaining young talent. Those who haven’t adapted to the change have attributed this to one single issue: Millennials consider the culture of financial institutions to be too traditional.

Ask your Millennial employees for input

Millennials are looking for employers who share the same social values as they do. In other words, they are looking for companies that add value to society and positively impact the lives of others. The best way to understand how to transform a company culture to be more “meaningful” is to ask your Millennial employees for their thoughts and ideas.

What better way to understand what appeals to Millennials than asking them directly? The younger generation loves to be involved in the decision-making process in their workplaces. They keep a pulse on social activities, charitable causes, and events that will help their local communities prosper.

How to reach this generation

It’s no secret: most Millennials can be found at any point of the day with some sort of digital device within arm’s length. Social media has changed the way financial institutions market to consumers as well as the way they operate. In order to be competitive in the marketplace, being up-to-date with technology and digital resources are going to be a huge factor in attracting and retaining Millennials.

The Millennial stereotypes

Over the last decade, you’ve heard the negative stereotypes of Millennials. For example, they’re lazy, disloyal, entitled, and expect a trophy for everything they do. However, instead of having a negative perception, think of how their mindset can change the way you do business and the opportunity to adapt to this ever-changing digital age. Look at them as collaborative employees, eager to learn new skills; they’re typically extremely adaptable to change and open to new ideas. These are qualities that most Millennials possess in today’s workforce.

This change is inevitable

If companies can change their mindset about the younger generation and showcase a culture that adds value to society, they’re on the right track to attract the younger generation. And like it or not, Millennials are the dominant member of America’s workforce. So, if your organization can make the changes to attract this generation, you’ll be ahead of the competition!

First Tech Credit Union

The Coolest Banking Centers Around The World

The Banking Industry has been making waves in the digital world. This shift in focus and new target market has given them the opportunity to transform their banking centers into digital-friendly hubs that appeal to technology-dependent customers. These customers want flexibility, fast service, and innovative ways of working and digital friendly spaces.

Here are some of the coolest banking centers in the world.

Standard Bank- South Africa

coolest banking centers

Source: BusinessTech

This institution created the “Playroom” in hopes that this hub will allow them to get a better sense of data and market testing strategy. The Playroom is basically a lab to research and test in a controlled environment before releasing new solutions into the market. The Mastermind behind this project is Vuyo Mpako, head of innovation and channel design at Standard Bank. “The centre will be at the forefront of solutions testing to make the customers’ banking experience simpler and more seamless. The ultimate aim will be enabling convenient, 24-hour banking from any location.”

Macquarie’s – Australia

This investment bank headquarters in Australia aims to enhance a more collaborative and creative approach amongst its employees. This building includes a library, a dining room, individual pods for workers, plazas, and even a tree house! It’s a 330,000 square foot building that the bank has dubbed as a “workplace of the future.”

In fact, employees don’t have designated workstations or cubicles. Rather they’re given an “anchor point” — their designated “home base” with a locker and storage. This allows employees to choose how and where they work every single day!

C1 Bank- South Florida

The bank designed the branch to show off the art and design galleries around it. Instead of the standard desks that most banks have, this location offers ‘pods’ that are similar to restaurant booths with round tables. Each pod has a unique design and instead of using computers, the bankers use iPads.

After hours, the inside of the branch glows in neon green, which makes the building stand out in the evening! C1 Bank is currently developing three more branches in South Florida and each are expected to continue with this unique design.

First Tech Federal Credit Union- Bellevue

Instead of traditional desks, First Tech Federal Credit Union has comfortability in mind. This allows bankers and customers the flexibility to sit on the couch and talk about transactions. This allows the credit union to be more consultative with a ‘Central Relationship Center.’ There are also private member suites for more complex, private conversations. The financial representatives are able to facilitate this more casual setting with their mobile technology right at hand.

“To be a true partner, we believe we must transform from a servicing environment into a stronger consultative environment where we’re collaborating with our members, determining their needs and recommending solutions that help them move forward financially.” Noted Stephen Owen who is First Tech’s Chief Retail and Marketing Officer.

Umpqua Bank- Portland

Umpqua Bank

Source: Medium

For starters, each Umpqua branch offers a phone that dials directly to the CEO, Ray Davis. Each branch offers two conference rooms, available to reserve to the public free of charge. Rather than aggressively trying to sell their products, Umpqua tries to create an environment that people would like to go and visit. Tellers hand out chocolate to customers whenever they make an account withdrawal. Financial reps are equipped with iPads, outdoor seating, loaner bikes, and interactive touch screens.

A new age in banking

The banking industry seems to be in the midst of a digital shift. As the years go on, we are going to see major changes in how banks and financial institutions are going to shift their focus and make it easier for their customers to interact with one another and the way they bank.