By Gary L. Easterling, CCE
Doubling in size every five years can place a strain on an organization. United Federal Credit Union has been growing at that pace and remains on track to be a $4 billion credit union by 2020. Our leaders have posed this question: "What competencies are required to lead a $4 billion credit union?" Our objective in answering this question was to create a development plan for me, the CEO, and for the entire leadership team. And to share what we learned.
How did we get going down this path? Our rapid growth has increased our complexity, challenged our competencies, and created the potential of losing our identity. My chairman and I attended this year’s CUES Symposium: A CEO/Chairman Exchange, searching for answers to our questions. When Les Wallace, Ph.D., president of Signature Resources Inc., challenged the audience to "focus on the vital few," we were immediate disciples.
It is difficult to find your focus when you consider the increased complexity of our business, the acceleration of change in our economy, and the significant external headwinds opposing our vision and mission. The demands on leadership throughout the organization are increasing. The methods, practices and processes successful in a smaller, calmer environment do not guarantee success today. Preparing the entire organization requires focusing on the vital few and that starts with the leader.
Wallace continued with the advice, "We must shift from strategic planning to strategic thinking." Agility and execution must replace the "perfected vision" in the bound copy of the strategic plan. Active leadership, thinking strategically, and executing with agility must replace the plan on the credenza. The planning is important, but the execution driven by strategic thinking is where the results are achieved.
Our time at CUES Symposium confirmed our direction and our intent. At United FCU, we intend to close the leadership gap that has been created by our success and growth so we can continue to succeed and grow. Proactively addressing the leadership challenges is our objective.
Our initial research revealed no assessment or leadership competency profile specifically for credit unions. Therefore we started our own research project. With CUES' assistance, we have completed several focus groups with board chairs and CEOs, and are ready to publish a qualitative study defining the leadership competencies required to lead large credit unions. We have worked with selected credit union participants, Xavier University, and Baker & Daboll, LLC, to statistically validate the qualitative study. A full-length article about this study will be published in the August issue of Credit Union Management magazine.
Gary Easterling, CCE, is president/CEO of $1.2 billion United Federal Credit Union, St. Joseph, Mich.
A CCE, or Certified Credit Union Executive, Easterling completed all three segments of CEO Institute, plus two between-segments projects. CEO Institute III focuses on strategic leadership development.
You may also wish to read "Leadership Matters" and "Top Seven Qualities of the Best Leaders," both free articles from Credit Union Management magazine.
