Ultimately, the CEOs who are the most successful will be those who can inspire others: The visionary CEO who focuses on the mission and remains passionate about the cause.
Your vision will attract the best talent, too, leading your credit union to success in its service to members.
Over the next 10 years, we’ll see credit union CEOs split into two categories: those who will grow through their technological investments and those who will grow through their community investments.
Regardless of their strategic focus, CEOs will operate like puzzle enthusiasts: seekers of opportunity and problem-solvers.
I encourage you to hire people who think everything is possible because understanding how you can best leverage your resources to meet requests with speed, autonomy, and knowledge will be integral in maintaining relevancy for current and new members.
While dedicating resources on external strategic initiatives is important, an equally important job will be building internal strategic plans for growth. That means building your best team.
Younger employees are more inclined to relocate than previous generations, and with numerous people relocating every year, building and retaining your best team should be a priority. This will lead to a greater emphasis on building your C-suite with a focus on culture and experience.
My advice for CEOs as we move forward? Doing what we did yesterday won’t be good enough. Simply doing good business won’t be good enough either.
Let purpose guide your business decisions. Originally, credit unions were founded with a clear answer to the question, “Why do you exist?”
Over time, many of us evolved to maintain relevancy. But as with many things, old is new again.
We must provide the vision for our reimagined futures. The best among us will provide the passionate leadership to bring that vision to life.
STEPHANIE SIEVERS is CEO of $37 million asset Star of Texas Credit Union in Austin.