FARMINGTON, Maine-From stay-at-home mom to part-time teller to credit union CEO 23 years later, Karen Greenleaf would not trade her career path for any other.
Greenleaf recently took the helm at the $72-million Franklin-Somerset FCU, where she started her financial services career more than two decades ago as a part-time teller.
"My husband and I felt we needed a second income and we did our banking at the credit union," explained Greenleaf. "One day I saw a sign that said the credit union was hiring a part-time teller, so I applied."
That led to Greenleaf steadily rising through the ranks, touching almost every department in the organization-and most of the management positions-before landing at VP-accounting manager. Greenleaf became CEO in January, but was acting CEO following the death of then-president Cass Hirschfelt last August.
Quickly Up To Speed
Greenleaf believes getting staff to follow CEOs who work their way up through the ranks may be easier than for someone hired from outside the credit unions.
"I know the staff, they understand me, and I know their individual needs and skills. It creates a very good working relationship. I also understand the direction of the board, and all of this allows me to get moving in my new role pretty quickly."
But Greenleaf emphasizes that she's not moving too fast, stating that leaders have to slow down and make sure they are good listeners.
"I always have time to listen to my team, if they have a need they know they can come to me at any time," she said. "I make my cell phone number available."
Accustomed to always pitching in and doing what is needes, that won't change now, said Greenleaf. "I believe in leading by example. That means if the staff is working long hours or weekends on a project, I am right there with them. And I never ask a staff member to do something that I would not do myself."
New Demands On CEOs
Greenleaf acknowledged that the role of the CEO is becoming much more demanding. "We have a compliance officer, but that does not mean that when a new regulation or rule comes out that I don't have to understand it. I make sure I learn all of the changes that are happening and it simply takes a lot of reading. It's critical for the CEO to stay as informed as possible about all of areas of the credit union."
The community-chartered credit union covers two counties, mostly members with low to moderate incomes. That membership, Greenleaf said, needs even greater access to the four-office credit union, and one of her goals is to work with the board on expanding e-services. "We want to move into mobile and our home banking site needs updating."
Being a female CEO does not present any challenges, nor make her role any different, said Greenleaf, who acknowledged her peers are mostly male CEOs. "I think that is changing, however, at least in Maine. In our state most of the new CEOs I see coming in are women."
