Newfarmer’s “outside of the box” ideas have earned her staff’s and board’s support. Andrea Powell, Tarrant County’s marketing coordinator, describes her as a “progressive leader.”
“She’s my CU Hero, both personally and professionally,” says Powell. “I’ve been in the credit union industry for more than 25 years, and I’ve never worked for someone so hard-working, so forward-thinking, and so genuinely concerned for the future of our credit union and the movement as a whole.”
Newfarmer shepherds a staff of 41—including 22 employees younger than age 30. She personally meets with younger staff members regularly and asks them to contribute ideas.
“I’m amazed at their comments and questions,” she says. “I don’t want them to get discouraged and leave our movement. Their ideas are mind-boggling.”
The Mouse that Roars
Lily Newfarmer, CEO of Tarrant County Credit Union, Fort Worth, Texas, doesn’t let her credit union’s size slow it down.“We’re doing things credit unions our size never do and the larger ones hesitate to do,” she says.
“When Bank of America rolled out its ‘Keep the Change’ program, no one dared offer a similar program in fear of retaliation from Bank of America.” But the credit union saw it as a beneficial program for members—providing an alternative way to save.
“We decided to provide a similar product called ‘Change is Good.’” To date, she says, the popular program has drawn no retaliation from Bank of America.
The credit union began offering an alternative to payday loans even before the stock market downturn and the surge in consumer borrowing from payday lenders. It also was among the first credit unions to offer remote deposit capability, and soon it will roll out mobile deposit services.
“At every opportunity, we’re ready to go,” says Newfarmer. “Success is ours only because we pursue it diligently and without trepidation. We consider ourselves the mouse that roars!”
Newfarmer also supports programs that benefit youth in the community. For example, she negotiated a partnership with the Generation Hope Laptop Program, an afterschool nonprofit, to include a financial education component and a scholarship sponsored by the credit union.
Among other accomplishments, she:
► Graduated from Southwest CUNA Management School in 1999, received the Alumnus of the Year Award in 2008, and is a current faculty member;
► Has served on the Texas Credit Union Foundation board of trustees since 2001, and as board chair from 2010-2012;
► Has “Hiked the Hill” with the Texas Credit Union League;
► Received the Credit Union Development Educators designation in 2008, and has served as a mentor; and
► Serves on the Filene Research Council.
In addition, her credit union recently received the 2012 Desjardins Youth Financial Education award, and received the 2006 Dora Maxwell Award for Social Responsibility—both from the Texas Credit Union League.
But Newfarmer claims she doesn’t like the spotlight.
“All I know is that I love what I do,” she says. “I hope when I’m done, I will have instilled in my staff and colleagues the belief that boundaries are established by those who haven’t the vision or the fortitude to challenge and overcome them. True success is by design, and measured by the good it does for others.”