MADISON, Wis. – Shared management models were offered as possible solutions to the succession challenges facing credit unions at a colloquium sponsored by the Filene Research Institute and the Center for Credit Union Research. "The objective of this colloquium is to gather the available data on how management resources might be used most efficiently in a labor market where the talent pool may shrink by as much as 40 percent by the end of this decade," said Bob Hoel, Filene Research Institute executive director. "We've seen some fabulous approaches that can be replicated in the credit union community. Our report on the colloquium will give smaller organizations a start toward meeting the talent challenge, and larger ones ideas on how to go about establishing mentoring relationships." At the Seattle Credit Union Center, CEO Wendy Larson and Director of Marketing Charles Larson serve six local credit unions with total assets of about $40 million. The Center provides a full range of management services at four locations in the Seattle area. According to Larson, with the arrangement credit unions are able to control costs, offer enhanced services, comply with laws and regulations, and provide convenience to members. At the Service Center for Credit Unions in Feasterville, Pennsylvania owner Joni Brown provides full time management to four credit unions in the area, record keeping for seven credit unions, and supervisory committee audits for 20-25 additional credit unions. In addition, Brown provides newsletter services, credit bureau reporting and credit checks and conversion assistance. Through the Service Center, participating credit unions also receive office and telephone service. "Patience is a key attribute in operating a service center for a large group of credit unions," said Brown. "The center must know its market and what services the credit unions it serves need. In addition, all participants must utilize the same data processing system." Large credit unions also have opportunities to provide services to smaller organizations in a mentoring configuration. For example, Raleigh, North Carolina-based State Employees Credit Union provides shared management services to three smaller credit unions: North Carolina Local Government Employees' FCU, NC Press Association FCU and Latino Community CU. "Our partnerships with these credit unions help us to fulfill an unmet social need and live up to the credit union principle of doing good," said SECU Senior Vice President/Comptroller Mike Lord. "They also expand access to the benefits of credit union membership in our state and help assure the vitality and long-term success of smaller credit unions." [email protected]