The NAFCU Journal January-February 2020 - 10

LEADERSHIP DOWNLOAD

Be So Good They
Can't Ignore You

The new Leadership Download
column provides credit union
executives with insights into
running successful businesses.

By John Spence

I

am not an economist or a futurist. I am
more of a "todayist," focused on what
is happening right now. When I look at
my clients around the world, they are
nervous. The instability in global financial
markets, geopolitical strife, Brexit, trade
wars and more have everyone on edge.
And because of the interconnectedness of
the entire globe, what happens on the other
side of the world has a direct impact on
you, your credit union and your members.
During the Great Recession, I was coaching several CEOs in various industries,
but my advice for each of them was the
same: Be world-class at the basics -
that's also my recommendation to you.
There are three key areas to focus on.

1. It's All About People

The success of your credit union is
100 percent dependent on the quality
of your team. Because you operate in a
highly regulated industry, you cannot offer
products and services that are too different
from those of your competitors, which
means one of the only places where you
can stand out is in the quality of the people
you can get, grow and keep. Onboarding,
training and development, culture and
career pathing must be major strategies
for your business. As a senior executive,
your most important "customers" are your
employees. Take great care of them, and
they will take great care of your members.
Remember: The member's experience will
never exceed the employee's experience.

2. Understand Your Members
and Their Needs

Most organizations I work with are
pathetic at deeply listening to their
10

customers, which is mind-boggling to me
because your customers (members) are
the people who pay all the bills. Regardless of the programs you already have in
place, you probably need to double or
triple your efforts. How many of these
member feedback tools are you using?
Online surveys
In-person interviews
■	 Focus groups of current members
■	 Focus groups of potential members
■	 VIP member groups
■	 New member groups
■	 Social media
■	 Member feedback panels
■	 Lunch or dinner with key members

outstanding and personalized member
service." Unfortunately, that is rarely true.
If you're going to hang your hat on superior member service, then you need to
have superior member service training
and processes in place.
Hire for a great service attitude.
Fire for a poor service attitude.
■	 Create member service standards,
procedures and processes.
■	 Train, train and train some more on how
to deliver world-class member service.
■	 Celebrate great service delivery.
■	 Deliver great service internally to
each other.
■	 Make sure the senior management
team models superior member service.
■	 Use member loyalty and satisfaction as
a key metric.

■	

■	

■	

■	

You should also apply many of these
with your partners, such as car dealerships, homebuilders, real estate companies, mortgage brokers and other
organizations that will refer business
and new members. If someone gives
you money (or could), you should be
investing the time and effort to create a
strong personal relationship with them
and, once established, make it extremely
difficult for your competition to steal
them away.

3. Always Deliver Superior
Member Service

Now that you have the best people on
your team and you truly understand your
members, the next step is to consistently
surprise and delight them with the outstanding service that everyone in your
organization delivers. When I ask credit
unions across the country what makes
them so different from their competitors,
I always get some version of "We deliver

Sure, there are lots of other things you can
do to survive a recession: close branches,
downsize your staff, cut your marketing
and advertising budget, become hypervigilant on every expenditure, drive like
crazy for more efficiency. But before
you consider any of these, ask yourself
whether you are so superior at the basics
that everyone in your community clearly
sees you as the best option.
Be so good they can't ignore you.
John Spence is recognized as one of the
top 100 business thought leaders and one
of the top 500 leadership development
experts in the world. He is an international keynote speaker and management
consultant and has written five books on
business and life success.

THE NAFCU JOURNAL  JANUARY-FEBRUARY 2020



The NAFCU Journal January-February 2020

Table of Contents for the Digital Edition of The NAFCU Journal January-February 2020

The NAFCU Journal January-February 2020
Contents
Conferences
From the Chair
2020 Advocacy Priorities
The Bottom Line
Leadership Download
Warning: Speed Bumps Ahead
Stepping Into 2020
2020 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January-February 2020 - The NAFCU Journal January-February 2020
The NAFCU Journal January-February 2020 - Cover2
The NAFCU Journal January-February 2020 - Contents
The NAFCU Journal January-February 2020 - 2
The NAFCU Journal January-February 2020 - Conferences
The NAFCU Journal January-February 2020 - From the Chair
The NAFCU Journal January-February 2020 - 5
The NAFCU Journal January-February 2020 - 2020 Advocacy Priorities
The NAFCU Journal January-February 2020 - 7
The NAFCU Journal January-February 2020 - The Bottom Line
The NAFCU Journal January-February 2020 - 9
The NAFCU Journal January-February 2020 - Leadership Download
The NAFCU Journal January-February 2020 - 11
The NAFCU Journal January-February 2020 - Warning: Speed Bumps Ahead
The NAFCU Journal January-February 2020 - 13
The NAFCU Journal January-February 2020 - 14
The NAFCU Journal January-February 2020 - 15
The NAFCU Journal January-February 2020 - 16
The NAFCU Journal January-February 2020 - 17
The NAFCU Journal January-February 2020 - Stepping Into 2020
The NAFCU Journal January-February 2020 - 19
The NAFCU Journal January-February 2020 - 20
The NAFCU Journal January-February 2020 - 21
The NAFCU Journal January-February 2020 - 22
The NAFCU Journal January-February 2020 - 2020 Vendor Directory
The NAFCU Journal January-February 2020 - 24
The NAFCU Journal January-February 2020 - 25
The NAFCU Journal January-February 2020 - 26
The NAFCU Journal January-February 2020 - 27
The NAFCU Journal January-February 2020 - 28
The NAFCU Journal January-February 2020 - 29
The NAFCU Journal January-February 2020 - 30
The NAFCU Journal January-February 2020 - 31
The NAFCU Journal January-February 2020 - 32
The NAFCU Journal January-February 2020 - 33
The NAFCU Journal January-February 2020 - Executive Spotlight
The NAFCU Journal January-February 2020 - Management Insight
The NAFCU Journal January-February 2020 - Compliance Central
The NAFCU Journal January-February 2020 - 37
The NAFCU Journal January-February 2020 - Inside NAFCU Services
The NAFCU Journal January-February 2020 - 39
The NAFCU Journal January-February 2020 - From the President’s Desk
The NAFCU Journal January-February 2020 - Cover3
The NAFCU Journal January-February 2020 - Cover4
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