6 minutes
CEO, CFO, president, vice president. These are all just titles. Yes, the job responsibilities may be more far-reaching than others, but no one person in an organization is better than another. All team members can contribute and positively affect the credit union’s goals or bottom line. What is more important than a title is accepting accountability, giving back, interacting with and empowering your teams, and leading with humility. Those are traits of a successful leader who earns the title and role they are in.
In 2000, when I became CEO of Desert Schools Federal Credit Union, my motivation was the people who work here and our members. I wanted to help create an organization that gave back and truly supported the Phoenix community while encouraging employees to grow and build on their strengths. I didn’t set out initially to pursue a career in the financial services industry, but I got hooked when I began working at Bethpage Federal Credit Union and realized that a credit union’s focus is often different from large banks. When I joined Desert Schools FCU, I wanted to build on and strengthen the sense of community and culture—one that is rooted in philanthropic efforts and places high value on employees.
I have a personal responsibility—and the way I see it, Desert Schools FCU has a corporate obligation—to give back, and this gives me purpose. Thankfully, I have the opportunity both individually and through my work to help our members, my team and the community every day. For me, philanthropy is a building block of leadership, and investing in what I value and care about has proven to be an asset to my career and Desert Schools FCU’s overall success.
Team building and community activities have helped the staff bond, which fosters a positive work environment. The feedback from my team is that these volunteer activities are a great part of their work and contribute to their overall feeling of job satisfaction. By focusing on employee engagement and community involvement as two very important keys to our success, Desert Schools FCU has become a thriving financial institution with a values-based employee culture. Finding this balance has not always been easy, but I believe it is a big part of our success. I encourage you to identify the values that are important to your organization and create opportunities to foster them.
I also believe that by connecting with people in your organization, you will be better equipped to lead and succeed. By being in touch with employees, you can discover new ideas to potentially solve a longstanding problem or tackle a new issue. Staying linked to different teams within your company can also provide an up-to-date perspective of your organization’s hiring and training processes, which are critical components of your organization’s future, as employees are one of your most valuable assets. At Desert Schools FCU, I’ve initiated several programs that allow me to connect with employees. The most notable is “Members Matter Most,” through which senior management and I spend four hours a month observing interactions in our branches and departments to identify unintentional obstacles for employees that we can work to improve or remove for them. I also host a regular CEO’s Breakfast to hear feedback from and connect with different employees in a casual environment.
Some people may look at the CEO position as being out of touch with the everyday frontline realities of a company, but it has always been important to me to stay grounded. A 2012 study published in the Academy of Management Journal found that leader humility is associated with many positive outcomes. The study found that engaged and humble leaders have more learning-oriented employees, lower turnover rates and more satisfied teams. I take pride in knowing my staff, understanding their jobs and volunteering with them in the community. We regularly volunteer together at HomeBase, a Phoenix-based organization that supports 18- to 24- year-olds who are experiencing homelessness. We love to participate in the Chef for a Night program, helping to prepare and serve dinner to the program recipients. It’s a great opportunity to give back, build team morale and get to know each other on a more personal level.
I also know it is important to surround myself with a smart, trustworthy team. It is unrealistic to think I know everything and have all the answers. Executives, mentors and other employees offer support in myriad forms. I did not get where I am today by myself and had the help of many people guiding and teaching me. Over the course of my career, I’ve learned four crucial things: 1) Listen to other people’s perspectives and opinions. When you listen with an open mind you’ll usually learn something, and as a result make better decisions. 2) No matter the circumstances always treat people with dignity and respect. 3) Don’t ever delude yourself into thinking you have all the answers. Be sure to surround yourself with the subject matter experts and give them the space to do their jobs. 4) When your team succeeds, you succeed.
Confronting one’s weaknesses and failures is another important area for growth. I believe that when I make a mistake, it is an opportunity for development, a time to address a skill or trait that needs improvement. Without this recognition, there is no change or advancement. Owning one’s mistakes and working to improve in these areas, rather than pushing them aside and ignoring them, helps pave the path to progress. When I give myself a moment to work through the disappointment of a failed project or interaction, there are always valuable insights that can often lead to a second attempt and successful outcome, or at the very least, be applied in the future so that I don’t make the same mistake again.
I am also a strong believer in empowering my employees. I encourage Desert Schools FCU team members to be curious and to set aside time to learn new things. When hiring and training, I emphasize a strong work ethic, curiosity and tenacity. Encouraging employees to pursue these traits helps to bolster an organization’s overall success.
Finally, it is important to remember that the opportunities we are given in life aren’t always what we expect, but being open to what comes our way can lead to surprising successes and outcomes. If I hadn’t been open to the unexpected, I might not have had a career working in credit unions. I studied psychology in school and when I was younger thought my life would take a very different path. It turns out my curiosity and interest in financial services led me to a very rewarding career.
Susan Frank is CEO of Desert Schools Federal Credit Union, Phoenix, Ariz.
