Attributes and Skills of Highly Effective Credit Union Managers
“At the end of the day, you bet on people, not strategies.” That, according to Larry Bossidy, the longtime CEO of Allied Signal (later Honeywell), is what drives a company and creates a culture.
Filene takes credit union leadership seriously and this report builds on years of analyzing not just the organizational performance of credit unions, but the human factors that make credit unions tick. From a 2005 inquiry linking team dynamics to financial performance, to a 2010 study that showed how best to move good ideas through an organization, to 2009 research that explored the motivators of under-30 credit union employees. Filene recognizes that examining the human side of credit unions is essential.
Employee performance expert Mike Neill has extended those findings in search of the common characteristics of 94 of the credit union system’s best middle managers. The anonymous participants in Neill’s survey were nominated for consistently performing in the top 20% of managers, receiving the highest possible performance evaluation, and earning the highest possible bonus if one was offered. Using statistically valid data that show what is typical for North American professionals, Neill’s research identifies the relevant instances where these high-performing credit union middle managers differ from the norm.
This report can be used as a tool for hiring and promoting in the middle management ranks. But whether you use a formal screening mechanism like the one outlined in this report or simply rely on interviewing and your own intuition, understanding these factors and how they play into effective credit union management will allow you to hire and promote more effectively.