Jana Chamberlin

Instructional Design Manager
Northwest Federal Credit Union, Herdon, Virginia

Business Case

Developing Employees' Soft Skills Using Virtual Reality

“The only way we can grow is if we change. The only way we can change is if we learn.” ~C. JoyBell C. (What Should I Read Next?, n.d.)

Have you ever attended a training on coaching through difficult conversations, de-escalating member calls, or how to deliver the best sales and service? Do you remember how things went afterwards? Did you shy away from a coaching conversation or escalate a call to a superior to avoid conflict?

In Learning and Development (L&D), the 70-20-10 model states roughly 70% of learning occurs through the application of tasks, challenges, and interactions on the job. Another 20% occurs through social learning generally with peers and friends. The remaining 10% takes place in formal settings such as instructor-led trainings, eLearning, webinars, etc. In formal learning we use assessments, role play, and other activities to simulate the experience as best we can. We provide scripted interactions and then debrief. We assess with quizzes that include the answer – you just need to recognize and select it. You leave with guidance, tools, and resources to support your real-world application. Only the real learning usually takes place without those controls during a live interaction. In essence, we ask employees to apply critical thinking skills to sensitive or challenging situations that directly impact our relationships with colleagues, leaders, and even our members.

An astounding “85% of career success comes from having well-developed soft skills and people skills” according to research conducted by Harvard University, the Carnegie Foundation, and Stanford Research Center. What is even more astounding, is this conclusion came from a published work in 1918 by Charles Riborg Mann (National Soft Skills Association, 2015-2023). Yet it remains fairly common that the chance to practice and apply those skills are tested in a real-world setting. Through trial and error, we continue our development and learn from our successes and our mistakes on the job despite the risk to our relationships.

Jayde DelGado

Branch Manager
Harborstone Credit Union, Lakewood, Washington

Business Case

Transitional Housing Loan

Picture this… the home you are currently renting is going to be listed for sale. You and your spouse have been notified that you have 21 days to move out of your home. Your three kids are going to be bummed to learn they have to move, but they are excited to make new friends in a new neighborhood. You and your spouse had a tough time during covid, but you have been able to save $1,200 for emergencies and have raised your credit score from a 510 to a 560. You have found a rental home that is exactly what you need in a great neighborhood, next to a well-rated school. Your rental application is approved and the kids are excited for their new home. The only requirements to move in are: 1st month's rent, last month's rent, damage deposit, and a large security deposit due to the low credit scores. The $1,200 in savings is not enough to cover the $6,000 needed to complete the move in. With limited borrowing options due to the credit scores and the days ticking away, what do you do? How do you get the money needed to continue to provide shelter for you and your family?

A transitional housing loan program is designed to offer loans to members of the community to help cover costs associated with moving. This program can cover the 1st month’s rent, last month’s rent, security deposit, and damage deposit needed. This loan will be a fixed rate, closed-ended loan that will have an interest rate of our F tier unsecured loans (17.99%) minus 2% for a program interest rate of 15.99%. This loan will carry a max term of 72 months to help ensure monthly debt obligation is low. Underwriting of the loan will require a minimum credit score of 520, employment of at least 12 months, a signed lease agreement stating the amount of funds needed, and a completed counseling appointment with a CCUFC (Certified Credit Union Financial Counselor) employee.

Antionette Morton

VP/Accounting & Finance
Educational Systems Federal Credit Union, Greenbelt, Maryland

Business Case

ITIN Lending

Is your credit union interested in… Membership growth? Loan growth? Increased community engagement? Commitment to diversity, equity and inclusion? Increased revenue? Market differentiation?

If you answered yes to any of these questions, the solution is simple: ITIN Lending. ITIN stands for Individual Taxpayer Identification Number. ITINs are issued by the Internal Revenue Service for US taxpayers who are not eligible to obtain a social security number.

ITIN lending provides financial institutions with the opportunity to serve immigrant populations who are typically underserved or unbanked. Immigrant populations, such as the Hispanic community, represent a significant portion of population growth within the United States and yet, these communities continue to be overlooked or disregarded. As credit unions continue to stand on the principle of people helping people, it is important to ensure our practices are inclusive and centered on helping all people while still maintaining the safety and soundness of our credit unions. This business case proposes a lending program based on individual taxpayer identification numbers (instead of the traditional social security number) to provide convenient, accessible, and affordable lending to immigrant populations.

Katrina Otto

Director of Human Resources and Development
Members Choice Credit Union, Houston, Texas

Business Case

LAB | Credit Union Sponsored Leadership Program

As credit union leaders, we have the unique opportunity to not only guide our own organizations towards success, but also to empower other businesses to thrive. By investing in the development of others, we contribute to the overall strength and resilience of our community.

In the rapidly evolving financial services industry, I am proposing a powerful initiative that aligns with credit union strategic goals aimed at amplifying deposit growth and adding new members while honoring our fundamental philosophy of "People Helping People". Credit unions can launch an innovative Leadership Development Program offering an exceptional growth opportunity exclusively to small and medium-sized business account holders, who represent a vital segment of credit union membership. 

Leadership development is crucial across all industries as organizations seek to build strong leadership pipelines, encourage employee engagement, and ensure business continuity.

Avi Poje

Training & Education Manager
Hughes Federal Credit Union, Tucson, Arizona

Business Case

Hughes Emerging Leaders Program

Starting in 2024, Hughes Federal Credit Union will offer an emerging leaders program. After being nominated by management, a select group of high-potential employees will complete eight months of coursework. They will complete online courses and attend in-person sessions. They will learn skills to take on more significant challenges in their current jobs and prepare them for future higher-level leadership positions. This program supports Hughes’ long-term strategy to “Promote and encourage participation in ongoing Leadership Training.”

While Hughes often promotes from within its ranks, there needs to be a formal program to develop specific candidates for more challenging roles. Without consistently having well-trained internal prospects ready to progress to management roles, Hughes faces additional expenses in hiring external candidates, business continuity risks, and succession planning challenges. This business case discusses how the Training & Education department will administer a functional, ongoing emerging leaders program to develop high-potential employees into future supervisors and managers at the credit union.