By Michael Neill, CSE What were we worried about this time last year? For most of us, it was much different than what is in the front of our mind at this time. We have experienced six months that have tested us in many ways. With the mortgage loan crisis, recession, speculation about a deepening of the recession and now the news of NCUA's Corporate Stabilization Program, we are presented with choices. We can allow these challenges to cause us to react in fear or we can exhibit our leadership mettle like never before. For many of us, we are in the midst of the greatest challenge of our leadership careers. Will we pass the test as those who have gone before us did, or will we cave under the pressure of fear? This past Thursday morning, I spoke to a couple of credit union "leaders" (not ServiStar clients) who were in the grips of fear over the NCUA's recent announcement. Now I am an optimistic guy, but I was even depressed after speaking with these two. Fortunately, I also had the opportunity to speak with three leaders of MNA clients. They gave me hope that our client credit unions understand what it means to lead when times are tough, not just when life is easy. I was so inspired by Larry Biernacki, CEO of Arkansas Federal Credit Union; Charles Mullins, CEO of Mutual Credit Union; and Cecilia Homison, recently named CEO of Florida Commerce Credit Union, that I wanted to share their thoughts and encouragement with you. To hear a short, but powerful, interview on how these great leaders are dealing with the current and potential challenges, click here and listen to a brief interview with Cecilia and click here for one with Larry. When challenged by forces outside our control, leaders with vision and boldness always conquer the weak and fearful. There is no doubt that we are in times that demand we exhibit wisdom, logic and resolute fortitude, and challenge our commitment to continue growing our sales and service culture. The recent economic and industry challenges have revealed, as do all such challenges, two types of leader: those who retrench in fear and hope that the most recent bad news will be the last, and those who know that challenges will always exist and that we must remain committed to the attack. To use a football analogy, it's the difference between the coach who plays the "prevent" defense hoping the clock will run out before the other team scores enough to defeat them, and the coach who says, "We earned this lead by competing and attacking. We are not going to play to prevent losing. We are playing to win." As Charles Mullins told his staff last Thursday night at Mutual CU's ServiStar kick-off, "We are not going to sit in a corner and suck our thumb. We are going to continue to do the things that will grow our credit union." Charles told the group, "Now is the time we must be committed to improving the financial life of our members more than ever. They need us now more than ever. We must find ways to grow the credit union by getting our members to bring more of their business to us." The employees' faces revealed the fire that Mullins' challenge had created. Folks, that's leadership! Some are tempted to hide, wait and hope the bad news doesn't find them. Some are tempted to react by saying, "Put a hold on what we are doing to grow the credit union; we'll pick it back up when things turn around." The leaders and credit unions that will survive and thrive will be those that continue forward with the strategies and tactics that will grow business. These leaders understand they have to improve the ability to increase income, not only to reduce expenses. They keep their attention and money invested in the things that will grow business. While the members you share with banks and other credit unions are ready to move their money and refinance loans, you must give them reasons to bring that business to you. You must show them that you want their business! Now is the time to equip your staff to identify and close product opportunities with your existing members and earn their business. Now is the time, like never before, that your employees will see the need to join with you to grow the credit union. While others hide in the shadows keeping their fingers crossed, I urge our real industry leaders not to waiver in creating a retail-focused organization. Your credit union has the ability to improve the financial well-being of your members. More than at any point in our lifetime, your members are looking for stability and a trusted advisor who will guide them to saving and making more money. If you give this to your members, you'll not only survive the current times but, when they pass, you'll be operating at maximum capacity while your competitors are just beginning to come out of hiding. Leaders, think about doing these things: When cutting expenses, cut those things that don't create opportunities to grow business. Meet with your staff to tell them the importance of every employee being committed to service and sales. Enjoin them in the battle to grow the credit union at every single member interaction. Continue to lead, coach, train and equip your staff to generate more business for the credit union. Only hire and promote those who have proven their desire and ability to add value to the member experience and the credit union's earnings. Don't invest money in hiring new staff. Use part of the money saved through reduced staffing to invest in training existing staff to be effective sales and service champions. Do you track sales results? If you reduce staff, cut those who can't or won't join with you to grow the credit union. If they won't do it now, do you think they'll do it when it appears less critical to your success? Train, equip and lead your management team to increase performance expectations and coach to improve performance of existing staff. This will allow you to accomplish more with less people. The times call for leadership. I am confident that some will lead while others will wilt. The decisions we are making now will resonate for years to come. Let's each of us look in the mirror and determine to lead, not hide. Be fearless.
Michael Neill, CSE, is president of MNA Consulting Inc., Atlanta, CUES' partner in ServiStar, consultation-based sales/service training and development.
Read "What Makes a Top Sales/Service Performer?" also by Mike.
Hear Mike in person at CUES' School of Sales & Service in June.
