SAN ANTONIO (4/13/15)--With the tremendous growth credit unions have experienced in recent years comes a demand for new skills and talent, according to two San Antonio credit union executives.
Christine Voigt, chief operating officer at Generations FCU, San Antonio, is a 44-year credit union system veteran, the San Antonio Business Journal reported. As her credit union has grown, it has become more complex, expanded service offerings and added new technology. Now, with ATMs and mobile banking handling most of the member interactions, credit unions need people who can manage sophisticated lending products, Voigt told the publication.
"The need for additional talent has become prevalent today," she said. "We need talented and educated people who can work with this technology and run these sophisticated platforms. It is much different than it was when I was starting out."
Belinda McDaniel, president/CEO of San Antonio's Select FCU the past 27 years, has watched her industry grow more complex as the number of regulations has increased.
"The need to protect consumers ends up creating more work for us," McDaniel told the Journal.
Interest rates, meanwhile, have been low for so long that some people in the industry may not understand the environment when they finally start to rise again, McDaniel said.
"As soon as the rates start to rise, people will start to move money and you have to be able to offset the outflow of funds or you are going to have problems," she said.
While credit unions serve members rather than shareholders, they require the same talent as banks, Voigt said. "We have seen a lot of growth in recent years in our mortgage lending and business services," she said. "We now offer many of the same products and services as the larger banks, and we need people who can work and excel in this