SAN ANTONIO-The first thing Jim Lafoon did when he took over as CEO in December 2012 was remove all the awards from the massive trophy case in Security Service FCU's headquarters and replace them with a small sign.
That sign, which stands in the space previously occupied by numerous awards the credit union received since it was chartered in 1956, recognizes past accomplishments and notes the credit union is "clearing the shelves to reserve space for new levels of achievement" as Security Service strives to become "the best credit union in America."
Lafoon, who has been with Security Service for the last 25 years, brings to his new role a new vision for the $7-billion SSFCU to become the best credit union in the U.S. He believes that while the past is very important, it can hold the credit union back.
"The No. 1 concern I have with a great credit union with a tradition of success is becoming a victim of that success," Lafoon told Credit Union Journal. "If you rely on all that you have done in the past and expect to do things the same way in the future and get the same results then you probably are not going to be an effective leader. You have to question your paradigms."
A 'Mistake' To Avoid
Like any good leader Lafoon believes in thoughtful planning, but cautions that for plans to work they have to be carefully constructed to ask the right questions. "Don't make the mistake of expecting to get the answers you need to succeed from the strategies and tactics. How can strategies and tactics deliver answers if your plans do not ask the right questions? You have to dedicate time up front to make sure your plan asks those proper questions, or your efforts will be misspent."
While at the same time SSFCU introduced its new goals to staff early this year, the management team and board were already hunkering down to come up with next year's plan.
"Management works very collaboratively with the board to create our strategic plan and set our goals," said Lafoon. "We start early and have meetings almost monthly with our planning committee."
Lafoon sees a successful organization staffed by employees who are each engaged in what they are doing, understand the company's goals and vision, and also feel good about what they are doing.
"I believe that pride and foolishness are mutually exclusive emotions. There is no way that a person can feel proud if they feel like they are doing something foolish or are simply uncomfortable about what they are doing."
A Lofty Goal
Lafoon said he has run virtually all areas of the credit union since coming on board as VP of information services. He has been CIO, run branch operations, was EVP of corporate planning, and held the role of EVP/COO before being tapped as president. The CEO feels hiring a chief from within with a wide range of experience is beneficial for the CU.
"There is no learning curve, as there would be with a CEO hired from outside the credit union. I understand the needs of the members, the board philosophy and the capabilities of the staff. I think this allows the credit union to get moving in the right direction sooner."
That direction is clearly shared in the empty trophy case in SSFCU's headquarters. "We have a lofty goal to become America's best credit union," said Lafoon. "It's a northbound train and we need everyone on board."
