Your 5-step credit union professional development plan

In the dynamic credit union industry landscape, professional growth is not only beneficial but essential.

Credit union professionals at all levels—from frontline staff to senior management—are uniquely positioned to shape their career paths proactively. LinkedIn found that 94 percent of employees would stay at a company longer if it invested in their careers, while effective employee development can increase performance up to 25 percent. This guide offers a structured approach to building a comprehensive professional development plan that caters to individual aspirations and the evolving needs of the credit union sector.

Step 1: Conduct an inventory analysis

Take a moment to conduct an inventory of your current skills and knowledge. What are your strengths? Where do you see gaps? Are there emerging skills or trends that apply to your role?

In the context of the credit union industry, "reskilling" is becoming increasingly crucial to build teams and provide the best experience for members. Assess if there's a new area you're passionate about or a skill set that needs updating. This convergence of passion, existing skills, and identified gaps will chart the course for your development journey.

Step 2: Engage with leadership

Initiate a conversation with your supervisor or mentor within the organization. The goal is to discuss your professional aspirations and align them with the opportunities available within your credit union. Review your inventory analysis with them and get their feedback on what you have outlined, identify any gaps that you have perhaps overlooked, and look into future possibilities that might be on the horizon.

Together, create a prioritized development plan that outlines key skills and knowledge areas relevant to your personal growth and your organization's strategic goals.

Step 3: Form your action plan

With a clear understanding of what you need to develop, form an action plan. Explore various avenues for learning and development. These could include in-house training programs, cross-training opportunities, online courses, or external workshops. Work with learning and development or training staff at your credit union to learn what training options are already available and where you may need to seek additional opportunities, such as job shadowing and on-the-job training. Check in with your supervisor for approvals and logistics that might be needed.

Keep your focus on finding resources that offer practical, credit union-specific knowledge and skills. Having a mix of on-the-job, coaching, mentoring, and formal training activities will create a well-rounded blend of training to help facilitate your learning.

Step 4: Review and measure

A good plan includes regular checkpoints. Schedule periodic reviews with your leadership to assess your progress. Ensure that your goals are SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. These reviews are opportunities to refine your plan, celebrate achievements, and adjust wherever necessary. Remember, the goal is to build a plan that's realistic, achievable, and aligned with your goals.

Step 5: Continuous engagement and follow-up

Professional development is an ongoing journey. Stay committed to your plan, but also remain flexible to adapt to new challenges and opportunities. Regular follow-ups and check-ins will keep you on track and motivated. Embrace a mindset of continuous learning and growth. It's okay to adjust plans that may change due to the needs of the organization or the desired path of the employee.

Industry trends and challenges

As you plan your professional development, consider current industry trends. Credit unions face challenges like digital transformation, cybersecurity, artificial intelligence, automation, and mergers and consolidations.

Mergers are reshaping the landscape, while strategic partnerships, particularly in technology, are becoming crucial. These trends underscore the importance of staying ahead of industry developments and incorporating them into your development plan.

Professional development in the credit union industry requires a tailored approach that aligns individual aspirations with organizational goals and industry trends. Having a professional development plan to reflect that is a key to success in the industry.