The NAFCU Journal: Lessons From a First-Year CEO

NAFCU - Kristin Shultz - Lessons From A First-Year CEO By Kristin Shultz

Last year, I became the president and CEO of NRL Federal Credit Union (NRLFCU), a $475 million credit union established for employees of the Naval Research Laboratory. As a career credit union professional, I was ecstatic to take on the challenge to lead an organization in a positive way. I have learned many lessons during the past 12 months. Here are my top management takeaways after my first year of being the CEO.

Transition Slowly

Allow everyone time to transition. Let the team learn your style and begin to build trust. Take the time to listen, and then make thoughtful, deliberate changes that will help move the credit union forward in a positive direction. Involve everyone throughout the process.

Concentrate on Culture

Work to build a positive culture. If employees are treated well, they will treat your members well. Concentrate on making small cultural changes that will have big rewards for your teams. Maybe employees want a casual dress code. Maybe they need more team-building events. Perhaps employee benefits and compensation need to be enhanced. Focus on your organization’s top needs, and make some quick adjustments.

Be Available

I have been consistently surprised by the appreciation I receive for being available to employees, members and volunteers. Answer the phone, answer your email, walk around the organization, and talk with everyone. Listen, and be willing to make changes based on their feedback.

Show Vulnerability

Show your emotions and your humanity. Everyone experiences difficulties, and everyone makes mistakes — we all have problems. Share your story, and be empathetic to others. The ability to be vulnerable will create an openness throughout your organization that will positively enhance the organization’s culture and create a sense of loyalty. Praise the work of others constantly; there can never be too much recognition for a job well done.

Remove the Status Quo

Review all processes, procedures, employees and functions to see whether they make sense, what needs to change, and in what order to change them. One of the phrases we have all heard throughout our careers is, “We have always done it that way.” Have your teams strike that phrase from their vocabulary and replace it with one word: “Why?” If you ask why, your organization will constantly be growing, learning and improving. Make the change process fun, rewarding employees for suggestions and including them in implementations.

Let Go of Operations

Surround yourself with smart people, and trust them to perform the operational tasks for the credit union. Use the collective wisdom of the group to navigate through difficult scenarios, and the outcome will undoubtedly be better than one created by an individual. Allow yourself some free time every day to read and reflect.

Practice Attitude Skills

Show a positive attitude the moment you enter the door of your credit union, because everyone is watching. The attitude you bring every day to the credit union matters and has a greater impact than you might imagine. It has been a whirlwind first year, and I am so proud to be the CEO of NRL Federal Credit Union. I learn something new every single day and cannot wait to get to work each day for our members and employees. With the help of my team, I believe the best is yet to come for my credit union.

Kristin Shultz is president and CEO of NRL Federal Credit Union in Alexandria, Va.

This article was published in the September-October 2019 edition of The NAFCU Journal magazine.
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