Credit unions were established in the United States back in 1909. Their proven success and longevity is one of many advantages credit unions have to offer. The longevity of credit unions goes beyond their general existence, however — it goes deep into the branches and roots of each credit union. Many credit unions have been successful for 50 years or more.
One example of this is Faith Community United Credit Union in Cleveland, Ohio. They have been serving members since 1952 – that’s 64 years now in 2016. It’s well known that many CEOs have been at their credit union for 10, 20 and sometimes even 50 years. Faith Community United Credit Union`s former CEO, Rita Haynes served the credit union for over 50 years until she retired in 2011. There are many examples of longevity in credit unions. Like Faith Community United Credit Union, Horizons North Credit Union in Northglenn, Colorado received a Business of the Year award from their community for Business Longevity. They have been serving their local community for 55 years.
There are many advantages in the credit union industry that people like Rita Haynes and the staff at Horizons North Credit Union have seen and utilized for personal success. It’s not just the credit union CEOs who have been in the credit union industry for quite some time, it’s also credit union employees. Credit unions are tight-knit and tend to hire for positions from within. This allows someone to stay in the credit union industry and work his or her way up from an entry level position to a senior position over time.
Employees in the credit union industry tend to stay there and generally aren’t seen bouncing from job to job or industry to industry, meaning there is strong job security in the industry. This job security comes from time in the credit union as the employees gain a better grasp and understanding of how to interact with their members, how the financial field works, the kinds of products a credit union offers, and how best they can serve their members.
Carpenter, Rebecca. "WOCCU`s Crear Congratulates Cleveland CDCU`s Longevity." World Council of Credit Unions. N.P., 6 Feb. 2008. Web. 1 April 2016.
"Horizons North Wins Business Longevity Award." CUToday.info. N.P., 6 Nov. 2015. Web. 1 April 2016.