By Jeanne Kucey, NAFCU Board Chair
The saying "A chain is only as strong as its weakest link" is as relevant to credit unions now as it ever has been. In today's complex world, there are myriad challenges that credit unions face every day, from new and changing regulations to data security concerns to less-supervised competitors and more. So how do we ensure we're strong enough to take on this environment and continue to grow? It comes down to our employees.
At NAFCU's Annual Conference earlier this year, we featured a panel of credit CEOs who shared their insights on growth n this competitive landscape. A key theme of that conversation was engaged employees. Lynette Smith, president, and CEO of TruEnergy Federal Credit Union, said something that struck a chord: "You need the right people on the bus with you."
Our industry is unique in its mission of people helping people. We seek to serve communities and individuals who have
been left behind by other financial institutions, to provide those in need with the best products and services to help them
meet their financial goals. The strength of our credit union mirrors the strength of our community.
In order to achieve that mission, we need employees who care deeply about others and feel compelled to take ownership
and fight for solutions. At my credit union, we offer internships to high school and college students to get good people in our pipeline early. I know a number of other credit unions offer similar programs to help develop the next generation of credit union leaders.
Once you’ve attracted the right talent, it’s a leader’s duty to ensure employees are engaged and fulfilled in their work.
They need opportunities to meet their professional goals — whether through educational offerings like conferences
or peer-to-peer networking groups, or the ability to grow in new roles at your institution. Robust training and advancement opportunities are a must.
In addition to professional development, personal connections are needed to build a solid foundation of trust and loyalty. Leaders must take time to get to know their teammates and ensure they feel valued for their contributions to the team. We need to work in unison toward our mission in order to be successful.
After all, we often spend more of our waking hours with our co-workers than our family members or friends. Your workplace must have a positive culture in which employees are comfortable being themselves, have a sense of pride
in what they do and feel cared for by their employer.
Accomplishing that will translate to better member service, because employees who are happy to come to work will talk about it. It’ll be palpable to your members and even potential members. Word-of-mouth is one of the best marketing tactics — we’re much more likely to trust the referrals of those closest to us. So when a friend asks where they can get a good loan and not be taken advantage of by profit-seeking banks or payday lenders, who better to direct them to your credit union than those who see the good work you do every day?
The human connection sets the credit union industry apart from others in the financial services space. It’s our community involvement, commitment to our mission and, above all, our love for each other that allows us to grow.
As our industry continues to serve our 117 million members — with more joining every day — we need to reflect on those who are driving us forward. Are you doing enough to equip and empower your employees? Because of the saying is true: We’re only as strong as our weakest link.
Jeanne Kucey is the president and CEO of JetStream Federal Credit Union in Miami Lakes, Fla.
This article was published in the September-October 2019 edition of The NAFCU Journal magazine.
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