3 minutes
Are you ready to play a bigger role in the credit union world?
It wasn’t that she wanted to have a greater leadership profile just for the sake of it, says CUES member Kim Sponem, president/CEO of $2.9 billion Summit Credit Union, Madison, Wis. Instead, she was driven by a desire to have an impact.
“I have a lot of interests and love to be involved in making impacts,” she says. “I learn something from just about everyone and this gives me energy to work with other credit unions and community leaders. I gain different perspectives through involvement and interactions and hopefully I’m making a difference along the way, too.”
During her 16 years as CEO, Summit CU has grown from $225 million to nearly $3 billion in assets and expanded from four locations to 34 and from 110 employees to 542. In addition, membership is up 6.2 percent over last year, marking the third straight year of more than 6 percent annual growth.
“It means members like what we’re doing,” she says. “And, our growth is an important way we contribute to the overall credit union movement, building stronger communities and creating jobs. The more we succeed as credit unions, the more we can do for our members through our cooperative business model.”
During her career, Sponem has been involved with CUES and is currently serving as chair for the 2017/2018 board term. She has also participated in the World Council of Credit Unions’ Global Women’s Leadership Network and its advocacy committee. Other involvements include the Corporate Central Credit Union board, the Consumer Federation of America board, and a just-completed term at the Community Depository Institutions Advisory Council of the Federal Reserve in Chicago.
Sponem has also won numerous leadership awards. The one she’s most proud of is the Ethical Leadership Award from Edgewood College, Madison, Wis. Summit CU has received many awards as well. Still, she keeps honors in perspective.
“It’s gratifying to be recognized but it’s not why we take the actions we do,” Sponem says. “We do it because it’s the right thing to do. We believe anyone can succeed financially and we take actions to help, knowing it will impact lives, families and communities. And this helps make the credit union movement stronger and more impactful.”
“Impactful action” benefiting the industry collectively is an important part of what being an industry leader is all about, says Sponem. “By doing that, you may become known as an industry leader, but being known as an industry leader is not the drive or goal behind it.”
Her tips for those who want to assume a greater leadership role in the industry?
“Learn about organizations in the movement aligned with your interests and where you think you could make an impact. Let leaders know you want to help. Then let them know again. Also, consider the level you’d like to get involved in. It’s not about taking a high-profile position just because it’s high-profile. Boards are about governance and planning. If that’s not what you want to do, you may be in a better position to learn, accomplish and influence through a different route.”
Also, “Develop the courage to speak up. Alternate points of view are needed. It’s not always popular, but it’s an important skill in an industry leader because it spurs different ways of thinking, which can lead to a better end result.”
Pamela Mills-Senn is a freelance writer based in Long Beach, Calif.
Both board members and executives can be industry leaders. Get more on director industry leadership in the advocacy section of CUES' Center for Credit Union Board Excellence. Not yet a member? Get a 30-day free trial by emailing cues@cues.org.
Board members and executives alike will be together discussing leadership issues at Execu/Summit, March 11-16 in Big Sky, Mont. It's not too late to register!
