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CU Snapshot

 Jun '17May '17
# of CUs5,911 5,922
Members
(millions)
111.7111.2
Total Assets
($ billions)
$1,378.8$1,369.6
Total Savings
($ billions)
$1,172.6$1,156.8
Net Cap.
Assets
10.6%10.6%
Loans to Savings79.6%79.9%
Loan Delinq.0.7%0.7%

         Credit Union Indicators

Develop Young Leaders

Successful CUs have good leaders throughout the organization.

Credit unions without quality leadership often perform poorly, says Marshall Boutwell, Peach State Federal Credit Union president/CEO.

That's why Peach State FCU in Lawrenceville, Ga. takes an active role in developing its next leaders.

The credit union partnered with a local technical college to develop a 12-month training program to develop leadership skills ranging from delegation, to coaching, to business ethics. The inaugural class of 12 employees, which graduated in December, met monthly for eight hours during the work day.

The class fills a critical gap in the types of professional training that are available to his employees, says Boutwell.

"When I look at failed credit unions or struggling credit unions, I almost always come to the recognition that there's been a failure of leadership," Boutwell said. "When you look at successful credit unions, you see that they have lots of good leaders throughout their organization. I just felt like we had to figure out a way to have a more well-trained group of young leaders in our credit union."

The program also drives employees to better themselves, even if they haven't yet been picked to attend, Boutwell says. In his estimation, the prospect of being selected for the professional development program has created a healthy competition among employees.

"It's really good for their morale, it's good for the organization," Boutwell says. "The word is out there that people are watching. Someone may perceive that, ‘If I'm a good leader, maybe I'll get a chance to go, too.'"

(Via news.cuna.org)