NORTH CHARLESTON, S.C. NCUA has granted $50,000 to three South Carolina credit unions, Health Facilities FCU, Greenwood Municipal FCU and Spartan FCU, to fund a collaborative effort to develop a talent management system.
The grant will fund a contract with Optimal Talent Solutions, part of the South Carolina Financial Solutions LLC CUSO, which was hired to provide services to the three credit unions, including: succession planning, corporate culture, human resource strategy and performance and development resources.
Optimal Talent Solutions supports the enhancement and implementation of strategies designed to improve the processes of acquiring, developing, aligning, assessing and retaining a diverse workforce with the required skills and aptitude to meet an organization’s current and future needs. The consulting group also provides employee regulations support to include, but not limited to, AAP Outsourcing, Training, EEO-1 Reporting and Diversity and Inclusion programs.
The group was chosen from seven grant applications submitted to NCUA. This is the first time NCUA has offered a grant of this size to low-income designated credit unions.
The grant is intended to encourage collaborative efforts that develop innovative, sustainable best practices to improve operations and reduce costs that can be adopted by other credit unions. To qualify, a single low-income designated credit union must partner with at least one other credit union. The collaboration can include other entities, such as state leagues and associations, additional credit unions, credit union service organizations and third-party vendors.
Funding for the grant is provided by the Community Development Revolving Loan Fund, which Congress created to support credit unions that serve low-income communities.
