While the artist's life was not for her, Debra Schwartz,president/CEO of San Diego-based Mission Federal Credit Union, hasbeen quietly creating a masterpiece across the canvas of the creditunion industry.

“I was actually an art major,” said Schwartz, who was recentlynamed an at-large director on the NAFCU board. “While I thought I was talented in high school, Iquickly realized it wasn't the talent needed for a career. I alwaysloved economics, marketing, tutoring others in statistics and sochanged paths. I started out in the banking world working part-timeas a teller at a bank while working on my MBA.”

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It was amid the turmoil and merger activity in the bankingindustry during the 1980s and early 1990s that Schwartz gotintroduced to the credit union difference by a friend, and she hasnever looked back.

After serving in senior executive positions ranging fromexecutive vice president at San Diego County Credit Union to chieffinancial officer at First Future Credit Union, she joined the $2.3billion Mission Federal in 2007. At the time, the credit union was under numerousregulatory pressures. Under her leadership over the past fiveyears, the credit union has grown in membership, given back to thecommunity and provided employees with an exceptional salary andbenefits proposition.

According to Schwartz, the turnaround has been the direct resultof the entire Mission Federal staff and the  directorsworking together.

“I think it was clear we needed to make changes,” said Schwartz.“So it wasn't just me saying something had to be done becauseeveryone knew we weren't at the top of the heap and financiallychanges needed to be made. The board support was helpful, and I hadan opportunity to build our own senior management team. The roadmap of what had to be done was clear, so every strategic initiativewas measured in terms of financial soundness.”

She added that making expectations clear from the beginninghelped with buy in.

“I believe in transparency, being open and direct, reallydirect. No one has to guess what I'm thinking,” said Schwartz. “Itry to lead by example. I get from behind a desk to regularly visitbranches, attend staff meetings in any department that will have meand work on team building, communication, focus on members and evenhave a little fun.”

She also found that there's no such thing as overcommunicating.

“I'm a fast processor and personally I don't like to hear thesame thing 20 times,” said Schwartz. “I've come to recognize thatdifferent people learn in different ways, so information needs togo out numerous times across various channels in different ways toensure everyone is on same page and headed in the samedirection.”

For example, wanting to foster a true culture change within theorganization, where employees feel valued and empowered, moreemphasis has been placed on recognition for outstandingachievements.

“With the focus on hard work and getting things done. it wasimportant to make time to recognize that effort,” said Schwartz.“It's about open communication so everyone is aware of what's goingon. We have quarterly updates sharing what's coming, getting inputacross departments, discussing the strategic plan, what's beenachieved, where we are headed, what's been done well in thatquarter and acknowledging achievements. Everyone knows what theinitiatives are, and there are a lot of good ideas out there. Sosometimes we've had to say not never, just not now to a few. It'snot a bad idea. It's just whether it correlates with our strategicinitiatives and having a laser focus on what needs to beaccomplished.”

Given her prior experience at big banks, where onlymillion-dollar ideas mattered, she has driven to create anenvironment that fosters innovation.

“To me, innovation is just doing things a little better,” saidSchwartz.”I remember how demotivating it was that you'd only berewarded for ideas that saved the bank a million dollars. I thinkcoming up with a $500 idea or 10,000 ideas that improve things inlittle ways are just as important.”

Some of the initiatives at her credit union she's been mostproud of have ranged from having a more robust enterprise-riskmanagement program that has become an integral part of how theorganization is run to marketing enhancements that have led to agreater impact on the same budget. Given the changes over the lastfive years, for Schwartz, a recent survey that revealed 98% ofemployees were excited about the future and 99% reported they knewthey were important to the success of the organization meant themost.

“That said a lot about the team we have here,” said Schwartz.“We just celebrated our 50th anniversary last year and lookingahead we want to continue that member focus as community impact ispart of our strategic initiative and, as always, work on productenhancements for our members.” 

Not one to be overly concerned about the ever growing andchanging competitive landscape, Schwartz believes in remainingrelevant by doing the best for members.

“There's lots out there to choose, from banks, Internetproviders, Google wallet, affinity programs, mobile, thecompetition continues to come fast and furious,” said Schwartz. “Myperspective is you can't do much with what else may be happeningout there. Be aware, but it's not one of the things I'd lose sleepover.”

It's the economy and the challenges associated with it thatkeeps her up at night.

“It's been tough on members, and there's much that's out of ourcontrol–unemployment, home prices continue to fall and overregulation,” said Schwartz. “We're a big credit union and ourcompliance team is very talented, and the regulations are adistraction. Very few of the things coming through offer realbenefit to members. They cost credit unions more and shift thefocus from developing new products and innovation to dealing withfont sizes in disclosures.”

She added that it doesn't help that credit unions in generalremain a best kept secret and awareness continues to be achallenge.

“Consumers still think of credit unions as less convenient thanbanks. That's less true here in San Diego but true overall,” saidSchwartz. “Another myth is that moving accounts out of banks is toomuch trouble, some insurmountable task. We need to get the word outthat credit unions are a better alternative and make the switchrelatively painless. The good news is that once consumers comeover, they stay, but it's getting them to make the move.”

Her advice for future leaders in an ever changing environment?To be flexible, open to change and calm.

“You never know where your next opportunity will come from sowork really hard, build a strong educational base and take thoseprojects no one wants,” said Schwartz. “You've got to keeplearning, whether its classes, attending conferences orvolunteering. Personally I'm not a big mentor fan because I thinkyou learn different things from different people. I've learned morefrom bad bosses as far as what I'm never going to do. I take itall, the good and the bad, as a learning opportunity. I had thechance to go through a bank failure. I knew we were merging andasked to work on the merger and acquisitions team, knowing I'd beout of a job in six months. I was in my mid-20s, and what aphenomenal experience, and I learned skills there that I use tothis day.”

She added that nothing derails more careers than ego.

“Being afraid to admit your wrong or not willing to admit youdon't know something gets in the way of good decisions,” saidSchwartz. “A little insecurity is a good thing. I know I try tomake sure I'm always doing my best with what my board wants,meeting employee expectations, doing what's right for the members.Honestly I am always a little on edge. I never walk into a room ormeeting thinking I own it.”