DALLAS-The Texas Credit Union League has developed a Credit Union Mentor Program, which it said will formalize collaborative partnerships between individual credit unions.
Linda Winkfein, TCUL's VP-small credit union development, said the goal of the CU Mentor Program is to provide opportunities for collaboration among two interested credit unions, including a sharing of best practices and intellectual resources.
"The program was created to foster collaboration among credit unions," she told Credit Union Journal. "There are so many challenges in our industry, but those challenges create opportunities for credit unions to share strategies and best practices. That sharing ensures the strength of the overall system. Subjects can include lending, accounting, or anything a credit union might do in its day-to-day operations."
TCUL said it expects credit unions participating in the CU Mentor Program will not incur any hard expenses other than staff time. The program is available at no cost to all league-member credit unions.
Credit unions choosing to participate will indicate their desire to serve as either a "mentor" or "mentee."
Although many of the mentoring partnerships typically will be between a larger and smaller institutions, Winkfein emphasized that small CUs may be the teachers.
"The Mentor Program will match credit unions based on needs, not just small credit unions with large ones," she said. "Regardless of size, a credit union might need help with its lending program and it will be matched with a credit union with expertise in lending."
'A Win-Win Situation'
According to Winkfein, the program is being structured so that it is available to more credit unions. She said with the league facilitating the program, it can assist its credit unions in collaborating with each other.
"It is a win-win for both the credit union that is giving information and the one that is receiving," she said. "The mentor credit union will coach on a particular skill and it can facilitate the mentee's growth. Hopefully, the mentee can eventually pay it forward and become a mentor."
A collaborative program such as this is "especially important" in 2012, which, Winkfein noted, is the International Year of Cooperatives.
"The strength of our movement has always been about cooperation, and this program will help the overall strength of our movement," she declared.
For information: www.tcul.coop/credit_union_mentor_program.html.
