By Doug Leighton, Head of Community Accounts
When we think about community in the financial services space, it is impossible not to think about credit unions. Credit unions are vital to the financial health of communities across the United States. They provide valuable financial services, a deep customer service and a commitment to the communities they serve.
At Visa, we have been proud to support the credit union movement since our inception as an association.
We believe it is important to ensure the long-term vitality of these important organizations, and we are doing this by helping credit unions attract and retain the best talent. In partnership with Filene Research Institute and Credit Union Executive Society (CUES), we are pledging $1.5 million USD over the next four years to build the next generation of credit union leaders.
Today, many industries are grappling with changing demographics, and credit unions are no exception. Credit unions face challenges with engaging, retaining and recruiting top young talent. New talent is essential to the success of the credit union movement. Young talent and millennials contribute energy, creativity and leadership to the businesses. The next generation of talent also helps ensure products and services are relevant to younger members.
Our long-term investment will provide research, education and support needed to attract new leaders. We will be working with Filene and CUES to provide a continuum of engagement that supports future leaders from the start of their careers through assuming leadership roles.
Our goal is to provide a sustainable benefit that will strengthen the next generation of credit union leaders—and communities they serve—thereby ensuring the future success of these important organizations.
In support of the credit union movement, Visa will support three initiatives:
- Visa will partner with the nonprofit, Filene Research Institute, to sponsor the War for Talent Center of Excellence, leading research dedicated to studying the talent gap in the industry. This four-year commitment brings together both industry and academia to create a wide variety of research, reports and colloquia on attracting, developing and retaining top performers.
- Visa will support the Cooperative Trust, an initiative that focuses on cultivating young leaders in the credit union industry. Visa will sponsor the “Crashers” — a group of the brightest young leaders in the credit union industry – in an effort to provide millennial talent the networking opportunities and access to credit union senior leaders that keep them excited about advancing their careers.
- Visa will support the Credit Union Executive Society’s CEO Institute program, which provides education resources for future credit union CEOs. These courses will enhance their experience and expand their roles so they can take on more leadership in the industry.
We are excited to contribute meaningful partnerships to the credit union industry because we recognize the powerful, positive impact credit unions have on our communities. Together, we hope to foster fresh thinking and innovation that will benefit the credit union movement for decades to come.