From the editor
This month, CU Management is taking a deep look at four topics (plus one more online) and related trends that are especially critical to credit unions right now. Unfortunately, the “Great Resignation” has made the war for talent even harder. It has also highlighted just how important a people strategy is now and will be in the future.
Lending: The U.S. Energy Information Administration projects that solar electricity generation will almost triple by 2050. Credit unions have an opportunity now to be part of this growing industry. Read “Up on the Rooftop” to learn how Verity CU in Seattle, Clean Energy CU in Colorado, and Sunshine Coast CU in British Columbia are making green loans.
And as a bonus, read a case study about how Frankenmuth CU is making a name for itself by serving (and lending to) the underserved legal cannabis market in its home state of Michigan.
Mergers: At some point in their strategic planning, most credit unions consider merging—or at least envision a scenario for when it might be necessary. But the credit unions in our cover story share strategies for thriving without mergers.
Facilities: The past two years have intensified the discussion on the future of branches (which, to be honest, has been ongoing in my 20-plus years in the CU industry). Did the pandemic finally kill the branch? Probably not: Consumers still want their primary financial institution to have a nearby physical location, but they are not going to visit very often.
The branches in our article, “Facilities of the Future,” are so beautiful that I’d happily visit any of them (especially if they have a coin sorting machine—my son’s collection is getting out of hand!).
Payments: Our special report examines the top trends in the payments world right now, such as personalization, buy now, pay later, peer-to-peer payments and cards, including contactless, instant issue, debit and credit.
Talent Management: This month we also have an online bonus feature about hiring and onboarding new employees in our new normal. When hiring, “you need to do an immense amount of hand-holding in that two-week period—from when they give notice at their old job to when they start—to make sure they show up,” says Jason Walker, chief people officer of Thrive HR Consulting. Read more at cumanagement.com/0422onboarding.
What are your top concerns right now? Let me know at firstname.lastname@example.org. In addition, please watch your email this month and next for a survey from us via Readex Research about your experience with CU Management magazine.