When Credit Union Times first launched the Women toWatch program, we wanted to focus on those women working withincredit unions. It's been an honor to be able to recognize those whochallenge the status quo and push creative solutions to addresswhat ails their credit union and oftentimes, the industry as awhole.

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What we discovered is that it is just as important to shine thespotlight on those women who have been tirelessly dedicated toproviding support to credit unions. The list is far from complete,but we thought this Women to Watch focus report would be a goodstart to showcase those who choose to champion the credit unionmission every day.

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A brief look at each of our honorees appeared in our Oct. 3 print edition. Here are detailedprofiles of each of these industry leaders. Click “next” at thebottom of each page through the following slide show to see themall.

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PSCU's Fredda McDonald Says Women Should be As IntentionalAbout Mentoring as Men

“One common theme throughout my career has been theintentionality of growing as a leader,” said Fredda McDonald,executive vice president for credit union experience at St.Petersburg, Fla.-based traditional and online financial servicesprovider PSCU, of her overall leadership journey.

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“I wanted to be an English teacher and what I'm doing now is notsomething that I could've ever planned beyond being prepared foropportunity, understanding my gift or talent and being flexible. Ithink the ultimate career goals are more about the lifestyle youwant and the ability to fulfill the self more than a title orjob.”

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A believer in the philosophy that to whom much is given, much isrequired as far as a responsibility to give back, McDonald has beena longtime champion of women's leadership. In addition toinitiating and supporting several women programs, she created aWomen's Leadership group at PSCU. This year, she expanded theprogram to include a Women's Leadership Forum for member creditunions during the PSCU Annual Member Forum.

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“There's nothing wrong with the “old boys club.' Whyhaven't we created and 'old girls club',” McDonald half joked.“Women should be as intentional about our mentoring as menare. We can come together on what we share and help eachother succeed honestly regardless of gender to make the wholeworkplace better by embracing diversity in general.”

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She said it has been a combination of hard work, luck and timingthat landed her finally at PSCU.

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“I had a role at MasterCard overseeing the process relationshipwith banks and credit unions and PSCU was one of my clients,” saidMcDonald. “Mike recruited me and I love watching people grow anddevelop as leaders themselves over time. My approach is morecollaborative because I believe none of us is as smart individuallyas we can be as a group. It's about creating a culture of trust,openness where we can all dialogue together about ideas anddisagree without being disagreeable to innovate.”

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She added that it's important that everyone be allowed to leadfrom where they are regardless of title, role orresponsibility.

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“It's a change in mindset. To be an organization that wants todifferentiate and innovate everyone must be inspired from therepresentative on the phone in the call center to theimplementation team and product and design group,” said McDonald.“We define innovation as the relentless pursuit of better ways. That's notto say we're going to invent something new but it's aboutcontinuous improvement.”

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Looking ahead, she said the evolution of payments has been causefor excitement and concern.

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“Consumers have changed the way they pay. How it impactsfinancial institutions is going to be a pivot point on how to keepconsumers engaged with them while being relevant to consumers inthe future,” said McDonald. “We've got to keep on the pulse of thenew consumer in how they relate to financial institutions. Look atBank Transfer Day, traditional banks were so out of touch theydidn't recognize that there could be a mass migration away fromthem and it happened in a flash. So understanding what we did toattract consumers and what we need to do to keep them is vitallyimportant.”

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She added that means digging into what truly drives loyalty.

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“Credit unions still focus on branches and where they arelocated. If they ask themselves the why behind that belief of abranch as the heartbeat of loyalty they may have different answersif they haven't asked that question lately,” said McDonald. “Ithink we should always be asking how consumer behavior is changingand we need to understand the new membership we want toattract.”

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As far as the competition, McDonald said to look tonontraditional players taking deposits who are looking for ways tobecome the central point for most consumers.

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The Members Group CEO Shazia Manus Started Early as anEntrepreneur

The word “can't”, simply doesn't exist for Shazia Manus, CEO ofThe Members Group, a card processing and payments solutionsprovider based in Des Moines, Iowa.

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“I grew up in a culture where there's self imposed norms andbeliefs but in spite of that I had constant encouragement from mygrandfather and I looked at ways to do, achieve more,” said Manus,who is a native of Bangladesh. “Coming from that culture whichrelegates women to second class, I never let it get to me. I alwaysstayed true to my beliefs, values because I learned that if Ididn't define myself and quickly, then someone else would do it forme.”

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She started her first business at 17 and by her 20s had openedseveral others including a boutique store and a canteen cafeteria,while studying at the University of Dhaka in the economics honorsprogram.

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“Microfinance in Bangladesh helped in the empowerment of women.I had quite in-depth experience in that model from an earlyage. It made an impact and helped me with the mindset, desireto be an owner, make a difference,” said Manus. “I'd wanted topursue an academic career in economics in London but life andcircumstances led our family to the U.S and took me to a differentpath. This may not have been what I originally envisioned but I'mvery happy and grateful to be where I am. All my experiences,defining moments in life have made me stronger to pursue dreams anddiscover possibilities I didn't know I had in myself.”

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She learned about credit unions after completing her degree ineconomics at Iowa State University and said the people helpingpeople, community centric focus simply resonated with her on adeeper level. Her innate curiosity has served her well throughouther life, and career.

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“I find inspiration all around, by nature, people, mysurroundings- all of it,” said Manus. “I constantly look for whatcan be possible, questioning why something is the way it is ratherthan taking it for granted because it has always been that way.Even personally I can often be my worst critic because I ask whatcan I be doing differently, look for ways to improve my skill sets.I see life as a constant learning journey and the day I know it allI might as well drop dead, so I self-motivate.”

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She added that today's leader needs to be collaborative,take risks, and have an entrepreneurial mindset and the ability topivot fast.

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“Look at what it took for Steve Jobs, Apple is the biggeststart-up on the planet,” said Manus. “The company was quicklyadaptive and recognized that market nuances have really changed.It's in paying attention that you find what may not be apparent atthe moment. There are many opportunities on the horizon but thereality is there are only so many hours in the day. So I try tobalance managing a strong business core with pursuing multiple newopportunities or innovation that help the company move forward. Ithink the how to do that is the common challenge for anyexecutive.”

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For Manus, leadership is a privilege and honor that she takesseriously.

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“The best part of what I do is that feeling of wanting to cometo work reinvigorated,” said Manus. “The days are long, can bestressful and there's a lot on my plate but I wake up every morningwanting to be back in it. We have such an amazing group of peoplewho are challenged to think differently, push boundaries and takerisks. I really believe to move forward you can't mimic orreplicate, you must find your competitive advantage.”

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She added that true innovation is based on identifying andsolving the most relevant consumer problems.

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“You can create a great product but it's just a great idea ifconsumers don't find it relevant and there's no mass appeal,” saidManus. “It takes hard work and is a deliberate, messy process wheremistakes will be made along the way but those bold, calculatedrisks can only pay off if you don't give up. When you think aboutthe iPhone for example, all the gadgets existed- the Walkman, iPod,cell phone, clock, email. So they didn't have to create all thoseelements but what they did is put it all together in a compact waythat now we can't live without.”

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Given that the business environment in general is complex,ambiguous as far as what the future may hold, it's important toalso be in the present as the landscape constantly changes at afast pace. She said that credit unions as a whole need to be alert,agile and proactive in their approach to challenges. Some of thequestions she feels the industry should be asking revolve aroundleadership succession, service and the business model.

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“There are decades of experience and passion in the movement soas they retire and new generations of leaders come in how can wetransfer that knowledge? Do we have the development and successionplans and governance model we need to be sustainable for future?Also who is the target market is there a well defined vision ofwhat we want to accomplish as a movement,” said Manus. “Anotherelement to explore is how has our economy, demographic shifted inthe past 100 years and in what ways have we stayed the same? Is itbold enough to be relevant to future generations of members? Are webeing adaptive with the right products, service for the market weserve? Those responses of the past may not be relevant today soit's looking at what drives us forward and identifying what andwhere those gaps in competencies we need exist.”

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Her advice for those looking to become leaders follows alongthose same lines of analysis.

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“Leadership is not necessarily in a title. There are alwayspeople who have tremendous influence,” said Manus. “Check your egoat the door. Be humble, be genuine, have discipline and that levelfive ambition. Be open to learning from as many sources, people andexperiences as possible. I see myself as a chief listening officerand removing those barriers to individuals introducing or expandingon ideas is something I do take pride in. Most of all stay true toyourself.”

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CUNA Counsel Mary Dunn Knows the Rewards of Perseverance

Mary Dunn, senior vice president/deputy general counsel atCUNA, knows something about the rewards of perseverance.

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“Since I was a little girl I wanted to be an attorney,” saidDunn. “There were a few setbacks on the way not the least of whichI couldn't afford law school so I had to postpone it and go laterafter I was married and had a daughter. I've enjoyed the work verymuch. I don't like that credit unions are so burdened withregulations but the legal issues are varied and challenging and thebest part is helping credit unions.”

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Her first job out of college was working in the governmentaffairs department for the U.S. League of Savings, a trade groupfor savings associations. At the league, she had done some researchon credit unions, because thrifts were concerned about them ascompetitors.

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“One of my colleagues at the time said you know what creditunions are pretty great and I already knew a bunch of people atNAFCU so it made for a pretty easy transition to help credit unionssucceed,” said Dunn, who also went to school nights to earn her lawdegree.

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For Dunn the thrill has been doing what she loves and she startseach day with the thought that “maybe this will be the day wereally can make a difference for credit unions.” With all theopportunities available on a daily basis, she tries to maximize andget the most out of every experience.

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“CUNA was really the first to create a regulatory advocacydepartment. There had been regulatory affairs and compliance but Ithink CUNA was the first to name it and put muscle behind what theywere trying to do in terms of credit union advocacy,” saidDunn.

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She added that given the regulatory burdens credit unions face,political advocacy has become even more vital.

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“If we can't get credit union champions in Congress rain orshine, it's going to be difficult. More and more credit unions aregetting involved in lobbying their regulators, meeting with the Consumer Financial ProtectionBureau etc., and we need even more credit union folks to be activeon all fronts. The real challenge is how to keep engaged withoutfeeling overtaxed?”

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As far as the competitive landscape, Dunn said payments will bean issue going forward and the challenge of staying relevant in thelives of credit union members young and old will be ongoing butremains optimistic about the future.

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“I think one commonly held belief is that credit unions justserve a particular niche in the marketplace,” said Dunn. “They arefor everyone. Just because people who are working primarily takeadvantage of credit unions, doesn't mean that others can't aswell.”

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To Dunn, the only limits that exist are those that have beenself-imposed.

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“The moment you think you have all the answers and just rely onyourself is when you start to lose something of what it is to be atrue, effective leader,” said Dunn. “Every leader needs to havesome ego but the key is to not let it get the best of you orbelieving all those compliments paid. I strive constantly to be aleader and try not to ever lose out on an opportunity to seek outand surround myself with good people to work with.”

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Never afraid of hard work, she also has been a big believer inworking as smartly as possible.

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“It can sometimes be easier said than done but the world keepsgrowing, so it's about what you can do to get the most bang foryour buck,” said Dunn. “As far as communication, I do believe inbeing upfront but try to be as dynamic and clear as possible. Forexample, with regulators, on what credit unions need in terms ofregulatory relief and communicating to credit unions what we do.Try to have the tenacity of staying with it, whatever the goal maybe. “

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Her advice for future leaders starts with passion.

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“Pick something you can be dedicated to and just pour your heartinto,” said Dunn. “Don't be afraid to take on tasks, however small,because they can lead to more responsibility, more visibilitylater. Leaders are not developed overnight, it's a process and evenCEOs are still sorting out what it takes to be an effective leader.Your education never stops. Continue to educate yourself in manyways, reading as much as you can and try to get first handknowledge of how things actually work. In general, gather as muchknowledge as you can, stay positive and never give up.”

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“I think it's important to never be satisfied,” said Dunn.“There's a lot more I want to accomplish outside of the creditunion system and I plan on leading a long life.”

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Consultant Susan Mitchell StaysPositive While Results Driven

Since early on, a life of service has always been in the cardsfor Susan Mitchell, president/CEO at Nev.-based consulting firmMitchell, Stankovic & Associates, but she never dreamed itwould be with credit unions.

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“ I intended to do something along the lines of social work. Mymother always said to give more than you expect from others,” saidMitchell. “We started our business in 1985 and in working withbanks and credit unions I learned the difference between projectpeople and partners. We began specializing in credit union industryand never looked back. So while this wasn't the original plan, Iended up essentially doing the work I wanted and I love what I do150%.”

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She has taken an equally passionate approach to leadership andcreating an achievement-oriented organization.

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“What drives me is results-to the point of not playing unless wecan get results. I don't want to just spin my wheels,” saidMitchell. “I'm very direct in that everyone knows where they stand.We set goals, vision together it's a collaborative environment andwe all work hard to make things happen. We all believe in wantingthe best and that's motivational.”

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Simply put, not successfully completing a challenge has neverbeen an option.

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“The best way to silence doubts, fears is to push through it andI think having that core belief that we can make a difference,”said Mitchell. “You silence critics, even those internal ones weall have by demonstrating results.”

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In 2009, Mitchell was recognized by the World Council of CreditUnions for her volunteerism in developing countries around theworld and her program advisory consultation in the creation of theGlobal Women's Initiative that in its inaugural year had 78members and over 22 countries represented.

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The Global Women's Leadership Network connects credit union women with fellow leaders in other creditunion movements all over the world and engages them in professionaland personal development through social media and educationalforums. The network offers international perspectives on the commonchallenges faced by all around the globe, ranging from growthstrategies to alternative capital and operational efficiencies.

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The concept behind the network has been by interacting withother professionals in a business forum, women can access unlimitedresources and learn from the experiences of their peers.

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For Mitchell, chairing WLN has been a life changingexperience.

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“So often we work with a limited scope. what a gift to be ableto expand the view to a global one and hear about the many successstories worldwide,” said Mitchell. The WLN is not about women vs.men but about communities coming together and changing livesthrough financial empowerment on a global basis. When I was askedto be chair the idea was it'd be an educational forum and bringtogether this group of bright visionaries from around the world tosee what differences we can make.”

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According to Mitchell, it has grown to so much more and some sixmonths ago the sister society idea was hatched.

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“There were groups in Mexico, New Guinea, Africa so let's do thesame in the US. It's the first time WOCCU has ever done a projectin the US that mirrors what's been done in other countries aroundthe world revolving around the theme of professional, personal andcommunity development.”

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More than just creating opportunities Mitchell said she'd liketo see more women who want to engage and take advantage of thoseopportunities.

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“The questions I'd like more women to ask centers around theidea of how can I own this, take responsibility and get out thereto make a difference to myself,” said Mitchell. “When it comes tous in general women are not as confident to ask those toughquestions of themselves and others. It's like the differencebetween mentoring and coaching. Coaching is telling me what to dotoward a goal. Mentoring is learning from one another to help seethe possibility to grow.”

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Her mentors have ranged from her business partner Mike Stankovicwho taught her to balance her life and has always challenged herthinking with insight which resulted in better outcomes; to StanHollen, CEO at CO-OP Financial Services, who recognized her vision,believed in their organization and has continued to share hisbusiness perspective.

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“There have been and are so many. Judy McCartney, retired CEO ofOrange County Credit Union, who for more than 15 years helped growthe business and today celebrates my crazy side with me,” saidMitchell. “And Brian Branch, WOCCU president/CEO, he models the wayas a leader. I am learning the global perspective, in the fieldcredit union development work and making a difference as avolunteer.”

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She added that opportunities about in the credit union volunteerarena.

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“The board can and should be to a credit union's strategicadvantage,” said Mitchell. “Credit unions should not only look todevelop their board but think in terms of exploring how they canwork together so that the board can be that strategic advantage.Our business model has changed, so we should be looking at how theboard fits into it today.”

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A believer in the concept of organizational transition, she saideven the definition of community can also be reevaluated as creditunions seek to understand differentiation.

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“Differentiation isn't about the brand name or tagline. Creditunions are the original social network, so how can we use our rootsand build that into a robust, value proposition that attractsconsumers,” said Mitchell. “The competition is ignorance. I thinkthe greatest competitor is the lack of knowledge of what we do. Wecan say it's the bank on the corner or those that offer greateraccess online but ignorance of our place in the market could be ourgreatest defeat. Do we have a culture that rings true as anindustry? I think in crafting that leveraged opportunity to buildawareness, talks break down over the message itself. The emphasisis on the wrong syllable so it's on how we say it rather than onidentifying and defining the core purpose and value.”

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She added that drafting a message that's relevant acrossgenerations and demographic groups that rings true remains one ofthe industry's greatest challenges. To that end she said authenticleadership has never been more important.

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“The economic rollercoaster of the past few years has beenawful, but I believe out of that comes more opportunity to serveconsumers in a different way. So we can never give up. The coreattributes of leadership of being authentic, having coreprinciples, belief in the vision and the drive to make it happenremain the same it's just a matter of how it's applied that haschanged,” said Mitchell. “A lack of focus is the one behavior thatderails more leaders careers. I think we get so many things goingon and so many opinions, influences that we lose focus on whattrying to accomplish and as a leader you've got to come back to thecore of what's the mission and what your trying to do overall.”

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Mitchell has always viewed luck as the crossroad whereopportunity and preparation meet.

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“Being prepared has allowed me to take risks, meet great mentorsand have the opportunity to learn from some of the best in thebusiness both male and female,” said Mitchell. “One of my greateststrengths is the ability to help people connect and create atipping point.”

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Corelation's Theresa Benavidez Gets to the Core With InnovativeProcessor

Theresa Benavidez, president of Corelation, a core processing firm based in San Diego, hasalways had a knack for making the most of an opportunity.

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While working as a teller at a credit union, Benavidez' headteller, who had just returned from a job interview suggested sheget her resume in order to apply for the job herself.

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“When she called me into her office I wondered what did I do,”said Benavidez. “She told me about the job training clients on acomputer systems product and that she thought I'd be great at it.It was a matter of the right place, right time and taking advantageof incredible opportunities to get to where I am today.”

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Growing up in a small town in Colorado, seeing how hergrandparents who immigrated to the U.S. from Mexico worked hard tomake sure their family would have better opportunities, Benavideznever imagined how many turns her career path would take.

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“It's very humbling,” said Benavidez. “Iam grateful for our team of really creative problem solvingthinkers who are so committed to the industry. So many werewilling to take the risk, walking away from their longtime careersto be a part of this and build a great organization together.”

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When Corelation officially launched in 2009, John Landis and Benavidez wanted to create an open, transparentenvironment where staff would be involved as much as possible inthe decision process from direction and innovation to clientsupport.

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“I believe the most important thing we can do for our employeesis to lead and act with integrity-always. There are no short cutsor easy way to get there,” said Benavidez. “I had the good fortuneof working for a man who was a great role model in many ways and Ialways had trust in him. I think when you lose or break that trustwith employees its so hard and there's a lot of work to do to getthat back. If we're not leading with integrity, employees see rightthrough that.

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“There wouldn't be that buy in, which is so important otherwiseit would just be people going through the motions. We can't do thiswithout everyone being fully invested and trusting that thosedecisions made are guided by what's best for the company and forthem.”

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She added that the atmosphere has been one in which challengesare viewed as great opportunities for learning.

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“Truly the team here is amazing and I love that we all lookforward to the next step and what the impact will be on thecustomers. It's what drives and motivates us. Every decision wemake impacts thousands of real people at the gas pump, grocerystore or waiting for that payroll deposit, so we have to strike thebalance between being careful yet moving quickly,” said Benavidez.“I think innovation comes when people have a can do attitude andapproach developing solutions without any preconceptions.”

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She said that at times the tendency in many organizations hasbeen to overanalyze and overcomplicate things making the processmore difficult than it needs to be.

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“To get innovative solutions out the door keep it simple, havefewer people involved get it started and then move more people inas you gain momentum. As a leader, let the team do what they dobest and get out of the way. You'll be wowed by the results,” saidBenavidez.

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Never one to pass up an opportunity to learn Benavidez said notto underestimate the importance of networking.

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“There are mentors everywhere so don't limit yourself to justone,” said Benavidez. “It can't hurt to have someone you admire whohas been down that road to counsel you but there's something tolearn from everyone you interact with from the people who cleanyour office, tellers, to accountants, they all have lifeexperiences that when shared may help you. Never be afraid to askquestions.”

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Looking ahead she said challenges facing the credit unionindustry overall range from regulations and compliance to figuringout how to continue to be relevant particularly in engaging theyounger demographic.

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“There is still an awareness issue where many of the youngerconsumers don't know what credit unions do or who we are,” saidBenavidez. “I was on the plane the other day and the person next tome asked what I did and when he heard credit unions the responsewas oh so they're like Experian or another credit rating bureau?It's getting better but the disconnect is still there and it's amatter of finding a way to reach out to the younger generation andestablish your position with them as future borrowers and futureleaders.”

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NAFCU Chief Lawyer Carrie Hunt Says Opportunities There for theLearning

Credit unions may owe a debt of gratitude to Carrie Hunt'ssister.

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“I wanted to go to law school early on and it was my secret goalbut my sister who was 17 months older had said she wanted to be alawyer,” said Hunt who today serves as general counsel/vicepresident of regulatory affairs at NAFCU. “She changed her mind andI stayed on the path. I didn't set out saying I wanted to be creditunion regulatory attorney, but the elements of my job of wanting tobe challenged in a career I love, being involved with politics,I've achieved that. I've had so much opportunity here at NAFCU overthe past eight years in a collaborative environment working with agreat group of people. Looking at the overall journey that led mehere, it's been a long road, with bumps along the way, but I canhonestly say I've loved every job I've ever had. I think I tookchances, worked hard and it's paid over.”

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She said the key to that sense of contentment has been a focuson what was expected in each role and do that to the best of herability.

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“So many look at the next step that they're not focused on whatthey're supposed to be doing,” said Hunt.

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It's something she learned early on serving as an officeassistant making placards, typing lists etc.

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“I made the best lists and placards I could and that led totraining congressional interns on how to use and find billsummaries,” said Hunt. “My advice for anyone is to find thesubstantive work in every job that exists in every job and workhard. Sometimes you get lucky and if there are factors that are outof you control like there is no opportunity for advancement thendon't be afraid to look elsewhere for you to take that nextstep.”

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Hunt's parents, who both worked for the federal government,fostered an inner drive to always set and strive for goals.

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“My parents certainly led by example. They worked hard and werevery honest about some of what they thought were mistakes in life,what they would've done differently and wanted us to learn fromthose with a focus on the why's behind being successful or doingwell at school,” said Hunt. “From early on they fostered that senseof having personal goals and the confidence to do things that wouldmake me happy. I also learned

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not to be afraid to take different paths or branch out insteadof being stuck doing one thing.”

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She added her general optimistic, yet practical outlook hasseeped into her approach to leadership.

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“I try to lead by example and am very direct,” said Hunt.“There's no hiding the ball, I tell it like it is in a way thatdoesn't hurt feelings. I think being honest, and giving appropriatefeedback helps all in the long run. I'm lucky to be surrounded by alot of the people I work with every day seeing what othersstrengths are drives and pushes me to try to achieve the same.”

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To Hunt, opportunities abound to further develop personally orprofessionally- it's a matter of being open to learn.

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“When I was in college the head of the student legal aid officetaught me more about legal research than anything I learned in lawschool and showed me what a real lawyer was as opposed to what yousee on television,” said Hunt. “I think mentors happen naturally inunexpected ways, your peers or someone at a networking event.What's important is to look to a lot of different people. You'llfind many mentors as long as you are open to seeking informationand willing to always keep learning.”

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She added that one of the most important lessons learned inmanagement has been to delegate appropriately, relying on the team,allowing and providing opportunities for them to shine. Theeconomic upheavals of the past few years have made leadership evenmore critical.

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“I think that when times get tough having a strong leader isvery important,” said Hunt. “And I think having leaders willing toacknowledge they can make mistakes and work through those isimportant as well. People can take missteps but there's always theopportunity to take a different direction to get back ontrack.”

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Part of adjusting course, means taking an honest assessment ofwhat's going on.

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“I think that credit unions need to recognize that our risks arereal, taxation, ongoing consolidation, many think that creditunions will always be around,” said Hunt. “I hope so, but theindustry as a whole needs to have a realistic view of the next fewyears and do what's necessary to keep credit unions a very strongpart of the banking system.”

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She added that the top challenge facing the industry can be summed up in one word-compliance. In just the past month alone, thousands of pages ofregulations affecting everything from mortgage lending anddisclosures of finance charges, to how loan originators should betrained has been passed.

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“It has a huge impact,” said Hunt. “Regulators say theyunderstand but when credit unions look at the burden it's caused inthe hours to comply and the fact that regulators don't feel theyhave to justify the rules but others have to justify every item canbe very frustrating,” said Hunt.

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Looking ahead, Hunt said the Consumer Financial Protection Bureau is worth keeping an eyeon.

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“What they are doing is counterproductive and the larger impactdown the line, NCUA may adopt some of the initiatives, programsCFPB is doing that may result in longer, more difficult exams forcredit unions without any real benefit to the industry orconsumers,” said Hunt. “Credit unions may have to stop doingcertain activities because the regulatory compliance may be toogreat. The pendulum may not swing back in time to survive on ageneral competitive basis or we won't be able to provide servicesthat the economy and community needs. In terms of what creditunions can do locally and on a bigger scale to make a difference iswork together to give comment to regulators.”

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She added that while grassroots efforts continue to matter, itwill be equally important to explore different types of solutions,whether though shared branching, shared back office operations orother areas.

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Filene Problem Solver Denise Gabel Keeps Focus on Tomorrow

While others have been busy working on today, Denise Gabel,chief finance and strategy officer at Madison, Wis.-based FileneResearch Institute has been focused on tomorrow.

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She credits her absolute comfort in trying something new, to herfather pushing her down the big slide she was terrified of when shewas younger.

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Like many, Gabel didn't know much about credit unions and fellinto the industry when a colleague at the Institute for FinancialEducation suggested she apply for a marketing position at a creditunion.

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“A what? To be honest, my career has been a combination of somedumb luck along with a thirst for people and problem solving,” saidGabel. “A number of years ago, I realized that this notion ofinnovation was growing and it presented itself as a big challengeof how does an organization build an effective, repeatableinnovation competency so it remains relevant. I began to immersemyself in everything I could get my hands on—books, classes,tapping other smart people and then I began to experiment, buildand most importantly make mistakes.”

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Words associated with Gabel's approach to leadership andcommunication have ranged from participative, failing forward, andhaving fun, to mentor, enabling people to find their authentic selfand creating the future. She has even been accused of being toocommunicative, a badge she has continued to wear proudly.

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“There was a colleague who once shouted at me 'Denise, you die aslow death' at the weekly executive team meeting,” said Gabel. “Itwas quite a wake up call. My eyes and ears opened that day as Irealized that what I don't see, others could. It helped me tolisten to myself and others. So once I got over the shock, I said'Yes, I do. It's a gift, thank you.' I'm passionate about thejourney, which is often long, so if I give up then we will neverget there.”

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That belief in the journey has helped shape Gabel's definitionof innovation as simply solving problems that add real value.

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“I think the economic crisis has been the tipping point forleaders to embrace a shift in power to support this 'new normal'.The Internet has enabled collaboration, access to knowledge, andripped playbooks wide open. Leaders who intentionally fan theflames in favor of transparency and encourage the voices thatreside within the social networks will fuel a firestorm and gainthe advantage,” said Gabel. “The new competitor is the entrepreneurnext door. Look at Piggy Mojo. They didn't know anything aboutcredit unions, they just designed to solve a consumer problem. Itended happily ever after when they piloted with a credit union.That's the face of the competition-not a Fortune 500 giant.”

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For Gabel, the new non-traditional entrants representopportunities to import an idea and leverage the relationships anddistribution channels that credit unions own.

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“Why re-create the wheel when the entrepreneur next door isalready ahead of you,” said Gabel.

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She added that the industry as whole cannot continue to bet thatany of their competitors will always behave in the same way, norrely on the standard “service makes us better.”

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“I wish we'd stop saying banks don't collaborate because theyabsolutely do. And while credit unions do deliver great serviceyou've got to dig deeper to build your sustainable competitiveadvantage,” said Gabel. “Stop with the 'they' did this. My answeris always, when we find 'them' we will address 'them', but in themeantime we have this challenge to solve so let's get busy.”

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Given the importance of remaining relevant, Gabel advised creditunions to reevaluate how their time and resources have beenallocated.

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“Once you are aware of how you are spending your time you maysee that you're so focused on dealing with the immediate day-to-daythat there's no way to look out ahead, let alone have anything inyour innovation portfolio,” said Gabel. “At least some portion oftime needs to be invested in thinking about the future. Justbecause the horizon seems fuzzy while the here and now is so clear,it doesn't dismiss our responsibility to look out and simply askwhy not? There has to be a way to leverage each other in the nextgeneration business model.”

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A focus on solving common problems, has been one of the reasonswhy Gabel has been so proud of Filene's i³ innovationprogram.

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“The people in i³ have delivered some impressiveinnovation on behalf of the US and Canadian Credit Union Systems.These people and their organizations have the bragging rights to anumber of successes—Save to Win, Why. Coop, LIFT—and a number ofgreat failures too,” said Gabel. “But I always encourage failure.It's okay to fail and don't think of it as being comfortable withmaking a mistake. You learn a lot, that you can apply the next timearound.”

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For example, Debtin Focus (now SavvyMoney) became the first i3 concept that 200credit unions raised their hands to beta test. According to Gabel,in a very short period of time the product began serving 500,000consumers and today reaches even more consumers through SavvyMoney.To her, delivering products that solve real consumer challenges andadd value, trumps any discussion of a national brand awarenesscampaign.

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“In the case of Google, Microsoft, Apple, and YouTube, what camefirst—the branding campaign or the killer product that met theneeds of the consumer? I would argue that the product came first,”said Gabel. “In the case of credit unions, I continue to supportthe notion that this industry can be a product leader. Creditunions clearly have trust and community as a competitive advantage.And, at their core, they collaborate. Wouldn't it be sad to sharean amazing product/service with your friend only to have them askwhere they can get that? You'd have to say, at a credit union.”

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Simply put credit unions and leaders should be carefulthey are not standing in their own way.

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“That advice came to me about midway through my leadershipcareer,” said Gabel. “Often times we do stand in our own way. Iremember a time in a meeting I was second guessing myself and in myhead, wondered am I standing in my own way about the value of myopinion? Then I thought, well I hope not! So I spoke up- loudenough to drown out that doubtful voice inside.”

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Over the years she has learned that it's important to recognizethat you have a gift to give and to step up and stretch yourselfforward, while paying attention to how you feel.

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“If blank pages and people energize you, then lead them. Iftasks and personal accomplishments feel good, then lead yourself.Never settle as gifts are there to be used,” said Gabel. “Thechallenge is finding the right coach at the right time in yourcareer. Sometimes you are the best coach for you—you just have tolisten. Other times, a family member or friend can be helpful. Andfinally, sometimes a professional mentor can help. I always stopmyself and ask what am I trying to do? Where am I stuck? This helpsme find the right resource.”

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She added never underestimate the value of having a greatsupport system. For her, that's been her husband Dennis.

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“I really chose the right partner. This man is the other half ofmy heart and my brain,” said Gabel. “He shoves me forward when Ineed it, he smacks me down when I get too far out ahead of myself,and he patiently waits for me again and again. Frankly, I want himclose because he knows too much.”

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CO-OP's Samantha Paxson Says Tight Times Allow Creativity toShine

The phrase 'go for it', pretty much sums up the leadershipjourney of Samantha Paxson, vice president, marketing at Rancho Cucamonga,Calif.-based ATM and shared branching network provider, CO-OPFinancial Services.

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“I was given a lot of responsibility and a lot of freedom earlyin my career – taking a leadership role with a few growing accountsat a small public relations and advertising agency in mymid-twenties. I was a driven, nipping at your heels, pain in theneck who wanted to take on more, learn more and do more. I madeplenty of mistakes, humbling mistakes. But I sure gained loads ofvaluable experience,” said Paxson of her time at the agency thathad at the time just taken on a new client CO-OP Network, whichintroduced her to credit unions. “It's the mistakes and failuresthat stand out in my memory, but they taught me I can thinkcritically, problem-solve and often devise a better outcome. Thoseexperiences also made me obsessive about planning.”

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A believer in the mistakes are forgiven, surprises are notapproach, Paxson has made it a point to not just go big butcommunicate big and have a back-up plan for the back-up plan.

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“With leadership it may be a cliché but its true, always be astudent in your discipline and of other leaders in business. Never, ever stop growing and learning, stay true to your point ofview and always deliver your best work. Mediocre is not inspiring.When resources are tight is when creative problem solving andclever thinking show themselves,” said Paxson. “I also think it'simportant to test yourself with leadership work outside your fieldand read everything you can blogs, TED, Fast Company, case studieson companies your admire.”

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Prior to joining the firm she'd never heard of credit unions.With credit unions needing a shot of awareness, you could sayPaxson found a roundabout way to parlay her dreams of being adocumentary filmmaker or writer for the New YorkTimes.

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“I found that I enjoyed and had a knack for things likeplanning, messaging strategy, writing and working in acollaborative environment where I could impact the direction of theorganization. Journalism morphed into public relations andintegrated marketing,” said Paxson. “I want to produce work thatinspires others. I admire companies and innovators that have hadthe imagination and the guts to change their category and theirindustry. Credit unions should not be the best kept secret infinancial services. They should be leading the financialservices industry. There is a public that is hungry for anauthentic, caring, convenient alternative. We need to deliver anexperience that is unexpected and worthy of not just sharing, butshouting about. “

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At CO-OP she's found great freedom, trust andopportunities to collaborate with a team filled with people muchsmarter than her.

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“I am an open-source collaborator. I enjoy the art of thebrainstorm. I tend to think better when I'm exchanging ideas,researching and debating with smart, driven people. It's one of thethings I like best about working with Caroline Willard,” saidPaxson. “Taking a small thought and transforming it into a big ideais fun both in process and outcome.”

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One of her great challenges has been convincing the risk adverseto move beyond the status quo or the “that's the way it's alwaysbeen done” mindset.

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“New ideas are scary, but comfort zones deliver results that canbe scarier,” said Paxson. “Gaining that elusive buy-in can be achallenge, but as a category, I know we can gain more than sevenpercent of the market from banks. New thinking and a dose ofcourage will help us get there.”

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Along those lines, she said in many ways credit unions have aninferiority complex as a category and there is a need for theindustry as a whole to dig deeper.

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I believe we often have an inferiority complex as a category. Weaccept our place in the market. We have the values and scale tomake big changes in financial services – we just need to find ourswagger. We should question what would my target member reallywant? What is the retail experience, the online experience, theapplication and onboarding experience,” said Paxson. “Always walkin the member's shoes and see things as the member sees them – andask yourself what needs to be addressed to make it extraordinary. Let's faceit – the member experience is online, mobile, streamlined andconvenient. Some of us are doing it, but as a category are weknown for this?”

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Rather than the common credit union challenges of awareness,technology and reticence to change, Paxson would welcome a primaryindustry concern of wrestling with managing success.

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“We need to work very hard to make sure that credit unions arein the 'consideration' set of financial institutions. Comingtogether as a movement to present a common brand idea; stressingabove and beyond personal, local care on the one hand andconvenient, next and new product accessibility on the other, willmove our industry well above lackluster banks – leapfrogging themto be the way forward for savvy consumers,” said Paxson.

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CO-OP's Caroline Willard Sees Collaboration as Key toAccomplishment

You could say getting into credit unions has been a dream cometrue for Caroline Willard, executive vice president, markets andstrategy at Rancho Cucamonga, Calif.-based ATM and shared branchingnetwork provider CO-OP Financial Services.

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“I worked at a thrift and saw the results profit-taking have ona company culture first hand and knew I didn't want to be in thatenvironment. I remember watching a board member head into thethrift to get paid for coming into a board meeting and it justturned my stomach,” said Willard. “While I was at the thrift I gota call from a recruiter for a job at a credit union and inpreparing for the interview I spoke with someone who is actuallystill at a credit union to this day and she just raved about beingable to serve the greater good and I thought I've got to get thisjob.”

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She did and never looked back. She later met CO-OP CEO StanHollen at CUNA's Governmental Affairs Conference and he mentionedthat he could use someone for strategic planning.

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“It was a matter of luck, making the most of the opportunity andit being the right place at the right time for me,” said Willard.“Working for someone who has placed that kind of trust in me, thereare no words. I also love the collaboration here. I'm excitedeveryday to be in a room with smart people who come up with ideasthat no one would have come up with on our own. I try to share whatthe vision is, the end goal and then the best thing I can do is getout of people's way and let them figure out the best way to get tothat goal.”

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She said she has found listening to be a key to effectiveleadership.

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“I don't think there is any substitute for hard work and yourreputation is one asset that must be ferociously protected. So thatmeans being a good listener, keeping your word, acting withintegrity and recognizing and fostering others' talent,” saidWillard. “I'm also a fan of informal interviews, spending time withsomeone you admire maybe going out to lunch to find out what makesthem tick, sharing knowledge, learning from each other successfulhabits and tips. Everyone has an experience you can learn from andsometimes we can benefit from someone pointing out our blinds spotsor gentle guidance at different points in our lives.”

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She said the continued collective credit union struggle of how to find ways to stayrelevant, compete while staying true to their core values hasbeen what energizes her every day.

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“Innovation is filling a need in the market that people haven'tarticulated yet,” said Willard. “I think sometimes we as anindustry think affinity is the same as profitability. Just becauseconsumers like us doesn't mean we continue to be profitable. Weneed to deliver relevant solutions/products, seize as many businessopportunities to collaborate as we can and that sometimes meansmaking tough decisions. Credit unions need to ask what should Istop doing to be more efficient and effective while staying true tothose core principles they were founded on.”

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Looking ahead she added that regulation, retaining top talent,and finding the right product/service mix to offer so members areengaged will continue to remain top credit union challenges.

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“I think one thing every credit union can do a better job of isdata analysis of who their members are, how are they behaving, whatare the trends they can monetize? That's an important step,” saidWillard. “Emerging payments is also important. Basically it's aboutrethinking the way credit unions do business and how consumers buythings in terms of sustaining engagement.”

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