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Articles by Joy Smith-Durant
When “me too” is the wrong leadership response
“I’m overwhelmed.” “Me too.” There is nothing necessarily wrong with either statement. Both can be true. “Me too” may even be an attempt at empathy, a way of saying, I understand. I’m feeling it too. But sometimes the wrong response isn’t really wrong. It just came too soon. Timing is everything, especially in leadership. When someone tells us they are struggling, our instinct is often to relate. We reach for our own experience because we want them to know they aren’t alone.
What comes up when your name comes up?
Recently, I found myself reflecting on the power of reputation after learning that my name had come up in connection with a professional opportunity. What made the experience meaningful was not the opportunity itself. It was the realization that someone had thought of me when the opportunity surfaced. In that moment, I was reminded that our reputation often speaks before we do. By the time our name enters a conversation, people have usually already decided what they believe about us.
It’s a different world: Leading when the old rules don’t apply
About 25 years ago, I walked into my first banking job at Hibernia National Bank. I was dressed in professional business attire with the mindset that you showed up, gave it your all, and earned your way up to leadership through hard work and professionalism. The environment was structured, focused, and maybe even a little rigid, but it made sense. That was the playbook, and we followed it. Fast forward to now, and we are in a completely different world.
More than my husband’s wife: Five ways we might accelerate our progress as credit unions
Community Financial Credit Union Tansley Stearns is the president & ceo at Community Financial Credit Union. “No” is not a word in Tansley’s vocabulary. If there is an opportunity to bolster Community Financial Credit Union and the industry at large, Tansley will jump on board as a champion regardless of other demands on her plate. To Tansley, an opportunity to connect with others and add impact is always worth the time. ... Tansley puts people first.
Leading beyond the title
I used to think leadership came with a title. Until I saw something different firsthand. When I started working at a credit union, I expected leadership to come from the top—the C-suite, the VPs, the ones with the authority. But what stood out to me were the hidden leaders. These weren’t the executives with big titles. They were employees who had been there for decades. The go-to people. The ones everyone trusted for insight, guidance, and problem-solving.
Into the unknown
♪ Into the unknown . . . into the unknown . . . into the unknoooown! ♪ If you have heard this song from Frozen II, you know it is Elsa’s moment of hesitation and determination. She hears a call that could lead her somewhere unfamiliar and even risky. She does not know exactly what is ahead, but she knows she cannot ignore it. That moment resonates with me because I have recently stepped into unfamiliar territory, taking on a project that stretches me in new ways.
Leading through loss: Navigating grief in the workplace and beyond
0 && scroll > position) ? true : false; $nextTick(() => { position = scroll; }) let filter = $refs.filter; if (filter) { filterscroll = window.innerWidth <= 1024 ? filter.getBoundingClientRect().top == 0 : filter.getBoundingClientRect().top >= 72 && filter.getBoundingClientRect().top <= 117 filterunscroll = filter.getBoundingClientRect().top < 72 } " > Skip to main content Eagle Federal Credit Union October 25, 2024, is a day I will never forget.
Brand-new day: Leadership lessons from The Wiz
In the unforgettable scene from one of my favorite movies, the 1978 film adaptation of The Wiz starring Michael Jackson and Diana Ross, the camera pans over a grim, industrial factory where the workers, dressed in drab, tattered clothing, toil away under the oppressive rule of the Wicked Witch Evillene. The atmosphere is heavy with despair, and the workers move mechanically, their faces devoid of hope.
I just called to say…
In your best Stevie Wonder voice, sing with me…♫♪♪ I just called to say I love you I just called to say how much I care I just called to say I love you And I mean it from the bottom of my heart Now that song will be stuck in your head all day, smile😊! I Just Called to Say I Love You is a song that expresses genuine love and devotion to a special someone without a special occasion or reason for the call. If you were to get a call like this, I’m sure it would make you smile.
The 6 strategic habits of highly successful leaders
Let’s talk about habits. Over my 42-year career, I have picked up a few good habits, and I continue to try to improve them each day. Habits are like discipline. But the word discipline gets a bad rap in today’s “get it now” world. I like to think of having discipline as adopting more of a training mentality. In his recent book “Power to Change,” Craig Groeschel writes about how having this mentality will help you stay the course in creating strategic habits that will help you achieve your life plan.
Advocacy makes unified credit union voice heard on Capitol Hill
Commonwealth Credit Union President/CEO—and America’s Credit Unions Transition Board secretary—Karen Harbin testified before a House Financial Services subcommittee Thursday on behalf of America’s Credit Unions. The hearing covered increasing politicization of regulations and Karen told the subcommittee that regulatory burdens place significant barriers between credit unions and Americans in need of safe and affordable financial services.
February jobs report settles Wall Street fears inflation could take rate cuts off the table
The February jobs report calmed concerns that a rise in inflation could prompt the Federal Reserve to hold off on reducing interest rates this year. The data, released Friday, showed that the US economy added far fewer jobs in the previous two months than previously believed and signs of slowing wage growth are beginning to emerge.
How economic pressures can impact digital lending today
Lending is the lifeblood of the economy, facilitating investments, consumption and economic growth. However, lending activities are inherently tied to the prevailing economic conditions, with shifts in economic indicators impacting borrower behavior, creditworthiness and lender risk appetite. Economic pressures, ranging from inflation and interest rates to unemployment and GDP growth, exert profound effects on lending markets, influencing both the supply and demand sides of the lending equation.
International Women’s Day: Inspire inclusion
International Women’s Day is more than just a date on the calendar; it’s a celebration of resilience, achievements, and the strong spirit of women worldwide. This year’s theme, “Inspire Inclusion,” serves as a call to action, encouraging us to envision and actively work towards a world where every woman is not only acknowledged but genuinely empowered.
Harbin details value-based programs offered by credit unions despite reg burdens
Regulatory overreach is impeding credit unions’ ability to improve the financial wellbeing of members and Congress and regulators must take action to reverse this trend, America’s Credit Unions Transition Board Secretary Karen Harbin told members of a House Financial Services subcommittee Thursday. Harbin, president/CEO of Commonwealth Credit Union in Frankfort, Ky., testified on behalf of America’s Credit Unions for a hearing on the impact of politicized financial regulations.
Empowering credit unions: Navigating the digital landscape with advanced fraud prevention strategies
The vast expansion of digital services has transformed the credit union member experience. Unfortunately, this rapid transformation has ushered in a rise of online fraudulent activity and a surge in cybercrime as fraudsters seek to exploit vulnerabilities in an increasingly digital ecosystem. According to LexisNexis’ report, The True Cost of Fraud, more than half of credit unions report increases in account takeover fraud (63%), synthetic identity fraud (58%) and card-not-present fraud (53%).
How to create the right curriculum for your managers’ learning
At CUES we’ve been talking a lot lately about the pressure credit union managers feel between the performance focus of leadership and the day-to-day needs of their direct reports. We’ve considered how managers’ development is often overlooked, especially when high-performing individual contributors are promoted to management but not trained in the success skills required for that new role. We’ve also discussed approaches to offering development today managers.
You’ve reached a number that has been disconnected or is no longer in service
Picture this, credit union peeps! You’re meeting with leaders to discuss upcoming events, issues, and strategies. Then, something pops up that sparks these conversations. But before you move forward, let me say this: The following scenarios are fictional and do not depict any actual person or event. Any resemblance to your leadership team implied or otherwise, is purely coincidental. Leader 1: Who in the world would use buy now pay later for groceries at Walmart?
Leadership development for people in a hurry
My husband is a rocket scientist (well, Aerospace Systems Engineer, same, same) and is passionate about space, science, and everything in between. One day, while browsing our bookshelf, I stumbled upon a book titled Astrophysics for People in a Hurry by Neil deGrasse Tyson. The title intrigued me – how could someone possibly learn astrophysics in a hurry? That title got me thinking about a broader question: What else can we learn quickly?
Maybe we can teach old dogs new tricks
Regardless of how you feel about it, a new year is finally here. To celebrate, most of us are busy making our list of resolutions that we’ll undoubtedly boast about on social media, but over half of those who commit to a New Year’s resolution will abandon their goal by February. While we’re used to the go-to New Year’s resolutions of losing weight or eating better, according to a Statista article, the top resolution for Americans going into 2024 is to save money.
Omnichannel and digital experiences: The future of financial services in 2024
The banking and financial services industry is evolving quickly, and the need to adopt digital strategies is becoming more critical than ever — not only to keep up with the ever-evolving demands of tech-savvy consumers, but to stay competitive with the fintech startups challenging the status quo by delivering superior experiences.
Time of reflection
Mirror, mirror, on the wall, who’s the fairest of them all? You’ve heard the story! The Queen asks the mirror, and the mirror tells her what she wants to hear, but one day, the mirror says what it really feels, Snow White … Snow White is [actually] the fairest of them all. Now, if you allow me to use my imagination, I imagine a mirror of this generation saying, yep, I said it, and what are you gonna do about it?? My Pastor, Brandon D.
Five things I learned as an examiner turned credit union CEO
Prior to joining my credit union, I spent 4 years on the other side of the conference room table as an NCUA examiner. [Insert examiner joke here]. Although that job wasn’t always sunshine and rainbows, I learned so much during that time that has helped me to be successful in my current role. Here are five things I learned as an examiner turned credit union CEO: “All credit unions are different credit unions” I’m a big fan of Ted Lasso quotes.
Nussle, leagues call out harmful interchange bill
CUNA President/CEO Jim Nussle reinforced how the Big Box interchange bill would negatively impact consumers, as Sens. Dick Durbin, D-Ill., Roger Marshall, R-Kan., and Peter Welch, D-Vt. work to stop any legislation from moving forward in the Senate unless it contains their bill’s language. The three senators held a news conference on the flawed Credit Card Competition Act of 2023 this week.
Don’t put credit union marketing on the back-burner
Times are tough – that’s for sure. Inflation rates are rising again, fueled by skyrocketing gas prices. Rate hikes don’t seem to end. And a recent report shows American household income actually dropped by 0.8% last year. These challenges aren’t only restricting consumers’ lifestyles; they’re restricting business capabilities as well. Per usual, marketing budgets are a major casualty of economic difficulties.
Resumes almost always lie: How to identify the right talent and interview through the façade
We have all been there, weeding through resume after resume, trying to discern which candidates are worth interviewing. The process is tedious, and our success rate is limited for several reasons. First, resumes are often padded with partial truths as employees exaggerate to make themselves appear better than reality. For example, “Completed a conversion to a new CRM system.” Only to find out they were a low-level member of a large team responsible for this accomplishment.
Unleashing the power of generative AI: 3 use cases for payments
Generative artificial intelligence has captivated the world’s attention with its potential to reshape industries and businesses. For many financial services executives — including those in payments — the question is not whether generative AI will profoundly impact their industry, but rather how to harness its immense power to create value. This cutting-edge form of artificial intelligence revolutionizes data creation, unraveling existing patterns to generate entirely new data samples.
Shadows to the light: The key role of visibility in strengthening cybersecurity
Detection is key in many aspects of life, from medical diagnosis to positive treatment to more existential threats posed by massive storms like hurricanes or destructive tornadoes. The quicker we can detect something threatening or dangerous, the sooner we can respond accordingly. While we take this for granted in everyday life, we don’t always appreciate the value of early detection in cybersecurity. Put another way, making cyber threats visible is key to mitigating the risk.
Stoic wisdom for credit union leaders: Cultivating resilience and vision
I recently had conversations with Jill Nowacki and Bo McDonald on podcasts and it made me think about how in the fast-paced world of consumer finance, credit union leaders are faced with a relentless stream of challenges and uncertainties. In such a turbulent environment, drawing inspiration from the ancient philosophy of Stoicism can offer invaluable insights and guidance.
Credit unions' actions speak louder than words
To build member’s trust, credit union leaders must consider all the ways members can feel respected. Respect for their time. Respect for their hopes and fears. Respect for their lifestyles and work arrangements. Banking for many members is just one more errand on a long to-do list. If they have to go into a branch for a simple transaction, that is not showing respect for their time.
I just work here
Why is the policy like that? I don’t know; I just work here. Why do they make decisions without understanding what we go through daily? I have no clue; I just work here. Why are they posting the position when they already know who will get the job? Your guess is as good as mine; I just work here. They said they don’t have time to train but hired a new employee that they must train; why is that? Sis! That is the question of the year, but I stay in my area because I just work here.
The power of surrendering control
Let’s consider this scenario. You’ve been hired or appointed to be in a leadership position in your company; congratulations! You are excited, nervous, anxious, and questioning your abilities and many other emotions while trying to find your way. You’ve been in management positions, but this is different because you now lead the organization.
Overturn turnover by watering your lawn
The other day, I heard someone say, in response to an employee leaving their company, that the grass isn’t always greener on the other side; he’ll be back. While I have mixed thoughts about that statement, what if the grass is greener at the new company? But why would we assume he will return to your organization if it isn’t? I’ll put a pin right here and return to this thought later. Turnover is healthy for an organization.
Perception vs. reality
Perception is like an optical illusion that, when viewed, can cause a blind spot that tricks our brain into filling in the gaps or making assumptions because it looks like a piece of the image is missing. The same blind spots come into play when leaders look at things only from one perspective and ignore the behaviors of their teams, which causes them to assess the needs of the organization and team inadequately.
How to access the productive flow state
Have you ever been in the zone at work? You are consistently checking things off your to-do list. You are being productive. In essence you’re just killing it that day, and then the next few days are not so great? How is it that you were able to crush it on one day and then slump it the next? The answer is that you entered the flow state. You were able to tap into a rhythm that allowed your brain to function in its most productive state. You may be asking, how can I consistently get into that state?
Check your influence
We live in a world where the term influencer is widely recognized on social media. Whether you are an influencer yourself or follow one, two, or several, we all know that influencers on social media need several things to be successful, a platform, niche, and defined audience.
Building leaders from within
We have all heard the phrase, doing the same thing over and over, expecting different results as the definition of insanity. For most of us, we have been in situations, whether in the workplace or our personal lives, where we have seen insanity in action. Let’s take a moment to consider the scenario in my last article, Culture Matters in Hiring and Retention, where managers get in such a frenzy when filling employment gaps, specifically for management positions.
Culture matters in hiring and retention
Picture this, a manager quits for a better opportunity, and you feel like there is not an internal candidate to take their place. You posted the position on several sites hoping to get resumes from qualified applicants. A few weeks have passed since you have gotten an impressive resume, and you feel the pressure of having a vacant position. But voila, out of nowhere, you receive a resume of a qualified candidate. You conduct a telephone interview right away.
Maximizing engagement by leveraging motivation
William A Kahn, who coined the term engagement, posited that engagement happens when an employee immerses their entire selves into their work. Kahn suggested that an engaged employee is emotionally and intellectually committed to the organization’s mission, vision, and purpose, has a positive attitude in response to and about the organization, is aware of goals, and contributes and exhibits behaviors that lead to organizational effectiveness and success.
Servant leadership: A balancing act
The synthesis of servant and leader is an oxymoron that brings about transformative changes within organizations. Robert Greenleaf, a theorist of servant leadership, argued that instead of focusing on power, leaders should focus on serving first and while serving, growth, not only of the employees but the organization, will follow. When followers’ needs are met, they reciprocate through increased engagement, teamwork, and performance.
How organizational culture drives customer service from the inside out
Gone are the days where consumers are restricted to local credit unions or driven by product differentiation. Consumers have more choices of credit unions and other financial institutions now than ever before and are not afraid to use those other institutions to fulfill their financial needs. But what is it that keeps credit union members coming back to your institution?
Diversity, equity, and inclusion in credit union leadership matters
In the wake of the death of George Floyd at the hands of Minneapolis Police, leaders in many industries, including the credit union industry, have had conversations and made public statements committing to reduce unconscious bias and step up efforts and measures of accountability in the area of diversity, equity, and inclusion (DEI) within their organizations.
Cultivating a culture of clear expectations and accountability that equips and empowers
Have you ever felt like your workdays were full of completing mundane tasks with no clear understanding of the leader’s expectations? Well, you are not alone. Gallup research reveals that less than half of employees know what leaders and managers expect of them. Another thought-provoking finding from Gallup research is that there are even some managers who are unclear about their expectations. If managers are uncertain, how can the information be disseminated to employees?
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