We are in the people business

In December, I had the opportunity to attend a retirement celebration for a credit union CEO who had been an industry champion for over three decades. His credit union threw him a wonderful party and invited family, friends, colleagues and business partners to celebrate his accomplishments and career.

As part of the celebration many credit union board members and colleagues shared remarks about the CEO’s triumphs. A few highlighted his growing the credit union’s assets over $1 billion during his tenure as CEO. Others discussed his journey of taking a credit union that was troubled when he started decades ago, to one achieving and sustaining excellent CAMEL ratings throughout the years and developing areas of growth for employees, volunteers and members alike. Many also spoke of his leadership abilities, willingness to work alongside his employees and relentless determination to grow the credit union.

When it came time for the retiring CEO to give his remarks, he was humbled and grateful for the accolades. What was most important to him was making sure his board and employees knew that these examples of success would not have been possible without their hard work and dedication.

The greatest takeaway from his speech was that while he was very proud of the accomplishments over his career, what mattered most was the fundamental belief that as credit unions, “We are in the people business.”

For him the formula was simple: Be accessible, listen and value what matters.

• Be Accessible – Though this CEO ran a billion-dollar credit union with 13 branches and 85,000 members, he always prioritized being accessible to members and employees. He made it easy for members to contact him. Members could email or call him directly through the credit union’s phone system.  For his over 200 employees, he’d meet one-on-one, each year to review the mission, vision and values of the credit union. This could be challenging, especially during the pandemic, but he wanted to make sure the team knew what the credit union was all about.
• Listen – Through these conversations with members and employees came insight on what was needed. Taking the time to listen and ask questions can lead to simple, yet innovative ways to help. It also makes members and employees feel valued and heard. As Maya Angelou once famously said, “People will not remember what you said or what you did, they will remember how you made them feel.”
• Value What Matters – As credit unions, we are in the business of buying and selling money. That is fundamentally true, but it’s the realization that we are shaping the financial lives of our members and employees that matters. Members don’t want a mortgage; they want a home to raise their families and make memories. They don’t want a car loan; they want to take the road trip of a lifetime. Employees don’t want just a job, they want an opportunity for a career with an organization that cares about them, their members and the communities they serve.

What makes credit unions so special is that we truly are in the people business. I hope when I look back on my career that I can say that what I am most proud of is that I made decisions, led and helped others with that understanding top of mind.