Filene Research Institute’s Post

Employees from the country’s best credit unions report high satisfaction with their institution’s compensation and culture, according to the recently released Best Credit Unions to Work For from American Banker. Learn how innovative employee programs help credit unions compete for top talent.

🤝💼 The Impact of Teamwork in Credit Unions! Teamwork is the cornerstone of success in any organization, and credit unions are no exception. Here's why fostering a culture of teamwork internally can drive growth and member satisfaction across all credit unions: 🌱 Innovation through Collaboration: When credit union teams collaborate, they bring together diverse perspectives and ideas. This collaboration fosters innovation, leading to the development of creative solutions and offerings that better serve members' evolving needs. 🔗 Building Stronger Bonds: Working together strengthens internal relationships and fosters a culture of trust and support. Strong internal bonds facilitate effective communication, coordination, and problem-solving, ultimately enhancing the credit union's ability to serve its members. 🚀 Boosting Operational Efficiency: Teamwork streamlines processes and enhances operational efficiency within credit unions. By working together cohesively, teams can optimize workflows, minimize redundancies, and maximize productivity, ensuring that members receive exceptional service efficiently. 📈 Driving Collective Growth: Collaboration accelerates the growth of credit unions. By aligning goals, leveraging collective strengths, and pooling resources, credit unions can seize new opportunities, expand their membership base, and achieve sustainable growth that benefits all stakeholders. 💼 Enhancing Member Experience: Ultimately, teamwork translates into enhanced member satisfaction. By working together to deliver seamless, personalized experiences, credit unions can exceed members' expectations, foster loyalty, and build lasting relationships that drive long-term success. As we continue to champion teamwork within our credit unions, let's harness its power to drive growth, innovation, and member satisfaction across the industry. #CreditUnions #Teamwork #Collaboration #Infonancial_Solutions

Our namesake Edward Filene famously said, "progress is the constant replacement of the best there is with something still better." Following Filene’s first system-wide survey on credit union diversity, equity, and inclusion (DEI) policies and practices in 2021, we learned that diversity within credit union staff was important, but even more important was what credit unions do with that diversity. We found that 15% of respondents had some sort of employee affinity, network, or employee resource group (ERG). At the same time, we received many inquiries from credit union leaders looking for insights on how to launch a successful ERG program. When designed and implemented effectively, employee resource groups (ERGs) can be leveraged to serve business goals while also improving employee performance and retention. Use this implementation guide--from Quinetta Roberson, Filene Fellow for the Center for Diversity, Equity and Inclusion, with Rebecca Mitchell, PhD and Caitlin Briggs--to make progress in your “people helping people” mission and strategies. https://lnkd.in/g6s2qk8V

CREDIT DIRECT LIMITED is indeed a Great Workplace. Thank you for helping us build a Community of Great Workplaces in Nigeria. Imagine 50% of companies in Nigeria being Great Workplaces, and the impact on the Nigerian economy. Research shows that companies with high-trust cultures outperform those without by a significant margin. Higher productivity leads to increased business performance, and with that comes more jobs, higher income levels, and a ripple effect of economic stability.

/🌟 Exciting News Alert! 🌟 Did you know that Diversity, Equity, and Inclusion (DEI) practices can have a significant impact on employee retention rates within credit unions? 🏦 Let's dive in and explore how DEI is transforming the workplace! 💪 🌈 DEI ensures that everyone feels valued, respected, and included, regardless of their background or identity. By fostering a supportive and inclusive environment, credit unions can attract and retain a diverse range of talented individuals. 🙌 🚀 When employees feel like they can bring their whole selves to work, they become more engaged and motivated, leading to increased productivity and job satisfaction. 💼 DEI initiatives promote open communication, teamwork, and collaboration, creating a positive work culture that everyone can thrive in. 🌟 💡 Did you know that credit unions that prioritize DEI have reported higher employee retention rates? 📈 By embracing diversity, credit unions can tap into a wider talent pool, bringing in fresh perspectives and innovative ideas. This not only benefits the organization but also enriches the experiences of employees and members alike! 👥 ✨ At [Your Credit Union], we're committed to cultivating a diverse and inclusive workplace. We celebrate our employees' unique backgrounds, experiences, and talents. Together, we build a stronger, more united credit union that truly reflects the communities we serve. 🌍 🌟 Join us on this incredible journey towards DEI excellence! If you're passionate about making a difference, thriving in an inclusive environment, and contributing to the financial well-being of individuals and communities, we want to hear from you! 💌 🙌 Together, let's create a credit union that embraces diversity, champions equity, and fosters inclusivity. Because when we stand united, we can achieve greatness! 💫 #DEI #InclusionMatters #BuildingStrongerCommunities #JoinOurTeam

Your bank or credit union may have the right people...but are they in the right seats? A Working Genius Productivity Assessment and Training can help you figure out what types of workers you have and where they fit into your workflow. In the long run, this creates a healthier culture and maximizes your productivity. Thanks to Pegeen Singley and the folks at Centric Federal Credit Union for their kind words regarding the program. You already had a great team before the Working Genius session, so we're excited to see how this further elevates your credit union. And if you want to do Working Genius with Shawn Temple, ask about scheduling your session at the link in the comments. #communitybanks #creditunions #workinggenius #training #productivity

In today's dynamic credit union landscape, DEI serves as not just principles but as vital pillars, underpinning organizational success, community resonance, and ethical responsibility. DEI is crucial in the credit union industry for several reasons: 1. Representation: Credit unions serve diverse communities, and having a diverse staff that reflects the membership base helps understand and meet the unique needs of different demographic groups. 2. Innovation: Diversity of thought leads to innovation. When people from different backgrounds, experiences, and perspectives come together, they bring a variety of ideas and approaches to problem-solving, which can lead to more innovative products, services, and strategies. 3. Market competitiveness: In an increasingly diverse marketplace, organizations that prioritize DEI are better positioned to attract and retain customers from various backgrounds. This can enhance market competitiveness and increase market share. 4. Employee engagement and retention: Employees are more likely to feel valued and engaged when they see themselves represented and included in the workplace. This, in turn, can lead to higher levels of job satisfaction, productivity, and employee retention. 5. Risk management: Lack of diversity can lead to blind spots in decision-making processes and increase the risk of groupthink. Embracing diversity and inclusion can help mitigate these risks by promoting broader perspectives and more thorough risk assessments. 6. Social responsibility: Credit unions often have a strong focus on community development and social responsibility. Prioritizing DEI aligns with these values by promoting fairness, equity, and social justice within the organization and the communities they serve. Overall, DEI is essential in the credit union industry to foster a culture of inclusivity, drive innovation, enhance competitiveness, and fulfill the social mission of serving diverse communities. #CreditUnions #DEI #CUYP

Credit unions are steering towards a future where member experience is not just a benchmark in 2024 but the driving force for growth. Proactive over-reactive is the key to fostering a culture across lines of business that challenges the status quo with the member at the forefront. It's a transformative journey where exceptional service is not just a goal but a culture.

Okay, so I'm a recruiter. It may seem counterintuitive for me to share an article about ways to AVOID working with someone like me, but that's what I'm doing today. This is a wonderful article by Jill Nowacki that highlights how credit unions (or any organization) can do a better job of nurturing talent within their own walls. #creditunions #dei #succession #successionplanning #recruitment #leadership https://lnkd.in/e83724cy

Credit unions are financial cooperatives. And that doesn’t just mean institution to member. It also means credit union to credit union cooperation. And when credit unions work together to bring awareness to consumers that there are better options for their banking needs, everyone wins. When it comes to workplace partnerships (SEGs), credit unions offer a critical employee benefit to those organizations with whom they partner. However, some credit unions see these SEG partnerships as “their territory”, not to be intruded on by other credit unions. This, in my opinion, is contrary to what we should be doing. When SEG employees have options and choices that best fit their needs, we as a Movement, are better for it. The focus should be on offering a strong suite of products and services, and a compelling story, that differentiates one credit union from other options. If what you’re offering is more compelling and better meets the needs of an employee than what I’m offering, then so be it. I’ll need to elevate my game. But to actively engage in efforts to withhold opportunities from that employee, to see different options and make an informed choice…well, that just feels wrong. If your credit union strategy and mindset is to mark your territory and prohibit Workplace Partner employees from having options and choices, and not embracing healthy “coopetition”, then you’re missing the point of what this Movement is all about. We’re in this together. #peoplehelpingpeople #creditunions