More people are using the term purposeful leadership these days—but what does it really mean? At its heart, purposeful leadership is about making a positive impact—it's about making a difference. The credit union industry is perfectly suited to this leadership style since what we do is all about people. We are in the “people” business, not the money business.
Define and communicate your core purpose
To be a purposeful leader, start by identifying your own goals and values. Ask yourself, “What motivates me as a leader and how can I make a difference in my role?” Then consider how the answers relate to your credit union’s values, mission and goals for the future. Do they match? In what ways? Take this opportunity to assess and update these organizational elements if needed as well as consider how they are currently applied. Gather input from employees and members to discover what matters to them. This will help you identify a clear direction for yourself and your team.
Once you’ve defined your purpose as a leader, make sure you’re applying it in all the areas you influence. Focus on your values and goals while developing strategies and policies, making decisions, communicating, and forming procedures. Share them with your team so everyone understands what you’re trying to accomplish and the purpose behind it.
As a credit union service organization working with credit unions nationwide, Envisant has integrated our core values of Integrity, Commitment, Unity, and Service into our core structure. (In fact, they form the same acronym as our parent organization: The Illinois Credit Union System). These values provide a strong basis for our team’s everyday efforts and for addressing the ups and downs of the financial industry as we support credit unions in serving their members.
Inspire employees to find meaning in their roles
Now that you’ve defined and implemented your own core purpose and values, it’s time to help the rest of your team do the same. Actively encourage employees to identify what motivates them and help connect it to their work. This includes asking how you can support them in reaching their personal goals whether through projects, training, or mentorship opportunities.
Inspire employees with real-life stories. Try an exercise with the team to share where and when they’ve seen core values demonstrated. When I was a credit union president I asked for “member impact” stories during team meetings. These gratifying stories show the real differences we make in members’ lives. They are especially important for employees in non-member-facing roles since they have fewer opportunities to witness the importance of the work they’re doing.
Directly recognizing employees for exemplifying your credit union’s values and mission can also reinforce a sense of shared purpose in a real way. At Envisant, our internal newsletter features shout-outs from employees who want to give colleagues “kudos” for their above and beyond efforts. We also have a recognition program that asks employees to nominate co-workers who exemplify each of our organizational values. These recognition strategies not only help create a healthy work environment but also reinforce shared values and a sense that what we do matters!
Conclusion
For credit unions, purposeful leadership aligns perfectly with our founding mission. Anyone can become a purposeful leader with intention and effort. If you're looking to make a greater impact, start by clearly defining your personal values and goals—giving yourself a strong sense of direction and vision. From there, you’ll be ready to shape a purpose-driven path for your credit union, inspiring employees to join you in making a difference that truly resonates with your members.
