RE: Young People As Successors
Credit Union: Family Focus Federal Credit Union
Location: Omaha, NE
Asset size: $43 Million
Field of membership: SEG Based-Gas and Water Company in Omaha, NE
CEO: Amy Brodersen
Family Focus Federal Credit Union located in Omaha, NE, has implemented a transformative plan to cultivate leadership within its ranks to ensure its sustainability and growth. With a membership primarily composed of employees from local gas and water companies, the $43 million Family Focus has strategically approached leadership development to secure its future. This profile explores how they have implemented a holistic succession planning strategy providing the opportunity of turning its challenges into opportunities.
Initially, Family Focus prided itself on having a succession plan for its CEO position. However, the sudden departure of a key vice president in 2019 who was groomed as a potential successor to the CEO, revealed vulnerabilities in the credit union’s leadership strategy. Realizing the limitations of focusing solely on the CEO position, Family Focus decided to broaden its succession planning efforts. The credit union recognized the importance of fostering leadership across all levels of the organization and not just at the top. This strategy shift led to the development of potential leaders from the boardroom to operations with the goal of producing a deep passion for the credit union’s mission and values among all employees.
Developing internal talent, Family Focus promoted its remaining vice president to Executive Vice President (EVP). Although this EVP did not aspire to the CEO role permanently, her experience and dedication made her an ideal candidate to lead the credit union temporarily and mentor upcoming leaders. The credit union then launched a comprehensive leadership development program, which involved assessments, training sessions, and mentoring opportunities, designed to prepare employees for future leadership roles.
This initiative allowed Family Focus to leverage the existing knowledge and commitment of its staff, ensuring that future leaders would not only fit culturally but also embody the credit union’s long-standing values. Supporting its new leadership development program, Family Focus restructured the organization with clearly defined roles and responsibilities. This new structure featured key positions such as Solutions Architect, Sales and Lending Manager, Operations and Accounting Manager, and Member Advocate Supervisor. Each role was designed to enhance operational efficiency and ensure clarity within the organization.
Consequently, Family Focus established a new cadre of middle management poised to take on senior leadership roles in the future. This strategy not only addressed immediate leadership needs but also prepared the credit union for the eventual retirement of its current CEO, planned between 2031 and 2033. Moreover, the credit union engaged a retired EVP as a part-time Leadership Coach, enhancing the professional growth of new leaders through customized development plans. This role has been instrumental in maintaining continuity and stability within the organization. Family Focus also invested in America’s Credit Union’s (formerly CUNA’s) Certified Professional Development program. This commitment ensures that all team members are well-equipped to contribute to the credit union’s success and feel a keen sense of belonging and purpose.
The journey of Family Focus continues toward effective succession planning and leadership development and reflects its proactive approach to overcoming challenges by ensuring its longevity. Investing in its employees and aligning their growth with organizational goals, Family Focus is not just preparing for the future; it is actively shaping it. This makes certain that the credit union remains resilient and a vital part of the community. Family Focus’ story serves as a model for other small credit unions aiming to secure their future through internal development and strategic succession planning.
The above profile was curated from Family Focus Federal Credit Union: “Young People As Successors”, a submission in the Blueprints for Small Credit Union Success published by America’s Credit Unions – March 2024