ARLINGTON, Va.-In a time when credit unions may be hard-pressed to add staff, 2009 presents the opportunity to add talented members from the banking community who have been displaced, observed one person. But there are also risks.
"As long as the financial services sector continues to contract, there will be people looking for jobs," said NAFCU Director of Research and Chief Economist Tun Wai. "With unemployment figures I saw the other day, I think this might be one of those opportunities for credit unions that may not occur too often."
But making room for former bankers could be challenging, suggested Michelle Greear, AVP of training and career development at the $1.3-billion Technology CU in San Jose, Calif. Greear is also a member of the CUNA HR/TD Council. "We have that opportunity, but with the economy as it is, we are not going to have as many chances to replace employees who may leave for another opportunity, or even retirement."
Kent Streuling with Utah's America First Credit Union agreed. "I noticed that turnover at our credit union in the last six weeks is significantly down. We have 1,825 employees and at any given time we have 20-50 jobs open. The other day we had 10 openings."
For info: www.nafcu.org; www.cuna.org; www.cunahrtdcouncil.org
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