LAS VEGAS-Devin Selte has taken first place in the "Next Top Credit Union Exec" competition hosted by the Credit Union Executives Society, and with it won a $20,000 educational prize package.
Selte, senior relationship manager for $11-billion Servus Credit Union, Edmonton, Alberta, was the Canadian regional representative. His winning entry was for a Young Leaders Network to organize and galvanize his CU's employees.
"A young leader development program needs engagement of the young leaders themselves," he told attendees. "Servus has 850 employees under age 35 out of 2,300 total. Three credit unions merged into one $11-billion credit union, so sometimes people get lost in the shuffle. The program helps engage and retain young leaders."
According to Selte, the most valued program was a "35 Under 35" leadership retreat that featured two days of instruction on credit union principles, leadership and cooperation. The retreat drew 105 applications for 35 spots.
The other four finalists were Jay Hansen, financial educator for $9.5-billion BECU, Seattle (West region); Alexia Mavrakes, marketing manager at $190-million Aspire FCU, Clark, N.J. (Northeast); Josh McAfee, marketing director for $142-million Leaders CU, Jackson, Tenn. (Southeast); and, Amanda Thomas, marketing and business development manager at $48-million Members First CU, Columbus, Ohio (Midwest).
The five finalists presented their projects at the recent CUES CEO/Executive Team Network conference here. There was a three-part scoring process that included a panel of judges, votes by the audience present at the conference, plus an online vote.
Here is a capsule look at the other four finalists and their programs:
Jay Hansen, BECU
Hansen noted technology has shaped the way people deliver and receive information. Because they date, shop and find personal trainers online, and because many are experiencing financial hardship, he said it is logical to deliver financial education to members over the Internet.
"I started a Webinar Project that expands the delivery of financial education and expands the reach of our credit union," he said.
The biggest roadblock to starting was knowing where to start, Hansen reported. He said topics for the first webinar ranged from credit to buying one's first home. BECU is asking visitors to its Facebook page to request the topics they want to see covered in future webinars.
Alexia Mavrakes, Aspire FCU
The best way to help members, Mavrakes declared, is to ask them for their business-a concept that often is lost as many CUs try not to be "pushy."
"This involves actively listening to members and getting to know them instead of simply approving a personal loan application," she said. "The credit union needs to find out if the member has a car loan elsewhere at a high rate."
To accomplish this goal, Mavrakes said sales staff should be given lower base salaries with incentives for production, which she acknowledged is a concept most CUs are not used to.
"I know that change freaks people out," she said to laughter. "But any credit union can get its employees to buy in by inspiring them to be part of the change. Sales can be scary because some feel they are pushing things on members, which can be helped by creating a sales/trainer position."
Josh McAfee, Leaders CU
The marketing budget at Leaders CU has shrunk for three consecutive years since the financial crisis hit, which McAfee said meant operation efficiency has become vital.
"We have given up the old school, no play, fire extinguisher approach to needs that included outsourcing everything and avoiding technology," he said. "Our Credit Union Marketing Version 2.0 understands the strategic plan and acts accordingly. We observe needs and proactively meet them. We look for internal ways to fulfill campaign needs. And new media is threaded into every aspect of our business."
As a result, McAfee reported, Leaders CU has developed a sales culture that has resulted in net member growth and improved quality.
"Budgets shrink, but expectations don't," he said.
Amanda Thomas, Members First CU
Thomas and her family are fanatical supporters of University of Kentucky men's basketball, and she said CUs should adopt the principles of "building fans" and "winning the game" for members.
"To know if it is winning the game, a credit union must keep score," he said. "Services per member is a great measure of loyalty."
Keeping with the sports theme, Thomas said the game plan for success includes developing culture standards, core values, a vision statement and a Members' Bill of Rights.
"The vision statement says which kind of institution the credit union wants to be," she said. "The Members' Bill of Rights communicates the value proposition and sets the credit union apart from other institutions."
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