Do You Need a Degree to Work at a Credit Union?

This was back to school week at my house. My 5 year old son, Nicholas, started Kindergarten and probably thought Monday was the greatest day of his life.  His countdown to starting Kindergarten finally ended and his excitement level was still very high today on Day 3. That is not really the case with my 10 year old 5^th grader, Jackson.  

Jackson’s excitement level has been worn down a bit with each new year by added homework, more demanding teachers and the desire to sleep as late as possible each morning. We’ve had conversation about how long he has to go to school and why it is important.

He understands high school goes through 12^th grade but will ask how long he will be in college. I told him that might depend on what he wanted to be when he grows up. Some people may finish in 4 years and others might go much longer.   

But how important is a college degree to work at a credit union?  When I am talking to Hiring Managers at credit unions, the importance of a degree may be the part we discuss most. There are some positions where that degree is very important and maybe it should be a requirement to the day-to-day aspects of the position. And there are certainly intangibles associated with the college degree as it does show that a person had the determination and resolve to complete something set in front of them.  

But there are also positions where work experience might be more important than the degree.  You may have to weigh the advantage of choosing between an accounting candidate with a degree in accounting and a year of experience or someone with 10 years of accounting experience working in a credit union environment. There may be some advantages to both sides and you have to decide on what would make the most sense and be the best fit within your credit union.     

And what about continuing education for credit union employees? There are many opportunities for employees to continue learning about their own area of expertise and the credit union industry overall should they want to take advantage of them. There are many CEOs, Executive Team Managers and future credit union leaders who have graduated from CUNA Management School, a 3 year program designed especially for credit union professionals.  

There are many ideas for what the best type of education might be for each particular position in a credit union but the importance of education is obvious. You just need to determine what works best for you or your department, how flexible you can be in making that decision and that a college degree may not be a requirement but a very strong preference.     

By Chris Thomas, Regional Manager, Credit Union Resources, Inc.