TALLAHASSEE, Fla.-One of the most challenging aspects of moving to CEO from the accounting side of the house is leaving a role based largely on numbers and statistics to one in which many subjective decisions are made.
That's what Tim Cook has come to understand since he took over the CEO role in February at TMH FCU. "It's been a big change. It used to be for me that many decisions were black-and-white, that's what numbers bring. Now there are a lot of gray areas," observed Cook, who came to TMH two years ago as an accountant and eventually moved to SVP. Previously Cook spent 13 years at SCORE FCU (now Gulf Winds) in Tallahassee, where he was CFO. He spent a brief period as CEO.
The role change requires Cook to get better at trusting his gut, and nowhere is that more critical than with lending, he said. In his past roles, Cook acknowledged he did not deal a lot with the lending side of the business, but now all loan requests that are not approved and pulled out as being exceptions come across his desk for the final decision.
"I look at all these loans to see if we can make any exceptions to policy, to find ways to help these members. This has been a learning curve, to actually see in front of me, first-hand, members' financial lives."
Taking the $48-million CU's helm has made Cook quickly understand the attention he must now give to the "big picture," taking into account all areas of operations. "That is no surprise, certainly. But it is something you have to become accustomed to when you are used to dealing mostly with compliance and accounting."
Cook said reliance on strong lines of communications throughout the three-branch CU, and doing a lot of reading to stay informed of industry trends, help him better manage greater responsibilities as well as the credit union's future.
Leading By Listening
What the change demands, as well, insisted Cook, is that he now become an even better listener. For example, slowing down and spending time with staff who may have an idea for change or improvement, as well as a personal need.
"A lot of listening, I think, is good note taking-mental or on paper," explained Cook. "You can't try to figure out every problem or opportunity immediately. It doesn't hurt to take your notes back to your leadership team and the board."
The CEO's role certainly taps strong leaderships skills, reminded Cook. He says his management philosophy is one of a "servant leader. I do not ask the team to do anything I would not do. And I let them know that I will work just as hard, or harder, than they are."
Cook manages a staff of 20, and he said that above all, a good leader lets the team know he cares about them and values what they do every day, said Cook. "I let employees know I care about them personally and professionally."
This is the second of a two-part series featuring the views of new credit union CEOs. Part one of this series appeared in the April 22 issue.
