WASHINGTON - While most CUs have trouble retaining tellers, Georgetown University Alumni & Student FCU has had a 98% teller retention rate for the last two years.
How do they do it? It’s a combination of grooming tellers for management positions, a “vast support program” and a variety of social and recreational programs, according to Erin Waldron, GUASFCU’s chief human resources manager.
Each intern, as all credit union employees are called, is assigned a mentor and will typically spend one semester as a teller before being allowed to join one of eight departments at the credit union.
If they stay with Georgetown University Alumni & Student FCU, interns rise up the ranks to managerial level and eventually the board of directors, which is comprised of seven upperclassmen, Waldron explained. There is no oversight from any campus administrator, so the CU really is entirely student-run.
Ironically, large banks like Credit Suisse, Goldman Sachs and Bank of America often hold recruiting events specifically for the CU interns, and the credit union is well known as an incubator for producing candidates who go on to large financial intuitions after graduation.
