CHAMBERSBURG, Penn.–A CEO who has announced retirement plans after a four-decade career is sharing what he has learned about developing strategic plans, managing people, and dealing with two kinds of worries.
Brad Warner, CEO of the $956-million Patriot FCU, has spent more than 43 years in financial services and 32 years in the credit union movement. with more than 30 as a chief executive officer.
Since Warner became president and CEO in late 2015, Patriot Federal Credit Union said he has expanded its branch network to 10 from six locations, completed a successful merger with Neighbors First FCU, and expanded the organization’s community charter footprint into Frederick County, Md., and the Eastern Panhandle of West Virginia, including Berkeley, Jefferson, and Morgan Counties.
In addition, Patriot FCU’s assets have grown to $956 million from $510 million, while membership has grown to nearly 84,00 from just over 51,000.
Below, Warner shares his thoughts and the lessons he’s learned during his career in this CUToday.info Q&A:
CUToday.info: How did you come to be involved in credit unions?
Warner: After college in 1979 I was offered $8,500 to teach or $14,000 to go into banking. So, I went to work for a bank in Reading, Penn. Five years later, Karen (my wife) and I were looking for a good school for our first son. We decided to go home where we knew the schools. With two college degrees, Business Administration and Religion, credit unions were a natural fit.
CUToday.info: What have you learned about driving and managing growth during your career?
Warner: There are people who believe every company has employees who are looking to support the mission, some who are simply there to get a paycheck and those who actively oppose the direction the organization has taken. Yet my experience has taught me different.
When a strategic plan is developed and clearly presented to all, with the appropriate rewards for all stakeholders your staff will align themselves to achieve the success of your credit union. The real trick is to develop a strategic plan that is supported by the board of directors as well as your executive team. Then, get out of their way and trust your team.
CUToday.info: What have you learned about managing people and has that evolved?
Warner: Employees will follow leaders. But leadership must be nurtured. It isn’t natural, it begins with understanding yourself and identifying your own style. For me, servant leadership is who I am. The credit union’s capital belongs to the communities in which we live. Find associates who want to come to work to make a difference in others’ lives.
Also, allowing employees to make mistakes along the way is required. As parents we know that children won’t stand up and walk without trial and error. And if you show me an individual who’s never made a mistake, I’ll show you an individual who has accomplished nothing.
And so it is with employees. We, including myself, are all learning and making mistakes. However, once you make a mistake. trust your co-workers with your error(s). I’m amazed how most people just want to help! It’s part of our humanity.
CUToday.info: What advice would you give to a new credit union leader/CEO beginning their career?
Warner: The most important thing is to be honest with yourself. Understand your strengths and your weaknesses. Hire individuals who compliment your management style and be transparent. Employees will respond to authentic leadership that isn’t all about you! And remember that passion goes a long way.
CUToday.info: What is your view of the future of credit unions, if there is to be one?
Warner: That’s a difficult question. When I started there were more than 20,000 credit unions. Nothing on the horizon makes me believe that consolidation won’t continue. The sophistication of software, machine learning, etc. will continue to push our movement to larger credit unions who can manage complex systems.
Additionally, regulation continues to push products and services towards what can be called a commodity. So, how does a smaller credit union differentiate itself? Still, in 44 years there were many surprises along the way. I believe that a positive focus on serving members will keep our movement relevant.
While in college, a sports motivational speaker told me that there are only two kinds of worries: Those you can do something about, and those you cannot. So, do all that you can to deal with the worries which can be managed. Serve now and let the future take care of itself.