April 16, 2013

NCUA funding helps 3 South Carolina CUs

April 17, 2013 – A small low-income credit union in South Carolina has partnered with one of the largest credit unions in the country to create a free talent management consulting program for credit unions in the area, and it used a grant from NCUA to start it up.

The program is being made possible by a $50,000 collaboration grant from NCUA's Community Development Revolving Loan Program, which provides loans and grants to credit unions in low-income communities. NCUA says the grant is the largest the fund has ever offered to a low-income credit union.

Health Facilities FCU of Florence, S.C., teamed up with the larger South Carolina FCU of North Charleston to plan the project, which was chosen from among seven grant proposals. To qualify for the grant, a low-income credit union had to partner with another credit union.

The training will be offered by the credit union service organization Optimal Talent Solutions and will focus on the issues of employee recruitment, performance management, succession and diversity.

William Myers, director of the NCUA Office of Small Credit Union Initiatives, said, "Small credit unions are infrequent users of CUSOs – yet collaboration is necessary for small credit unions to compete."

The other credit unions participating in the training are Greenwood Municipal CU, Greenwood, and Spartan FCU, Spartanburg.