Shake Credit Unions’ Imposter Syndrome
While in DC for CUNA’s Governmental Affairs Conference, I also attended Mitchell, Stankovic & Associates’ recent Underground Collision: TikTok Thought. (The company is my first and longest running client, so I kinda had to. ☺) The following is an exchange that occurred during the event, live on stage. It really struck me and stayed with me. You’re not going to find this anywhere else:
CUNA Mutual Group’s Gerry Singleton: Credit unions, our TikTok moment is creating financial well-being for all. Right? We own that category.
Redwood Credit Union CEO Brett Martinez: There's no proof…. You can envision if we actually can prove that we own this, the impact that will have. I don't want [just] Redwood Credit Union to be known for financial wellness. I want credit unions to be known for financial wellness.
Bravo Brett! Some individual credit unions are doing amazing work in spreading financial wellness and stability. We read of many of them in the credit union trade publications, and I know more are out there doing great work. Some aren’t exactly on board with this mission. Some have lost their way. It happens in every industry.
That said, we need to get that message out more. Redwood not only does the work supporting financial wellness in its communities, but also ensures it’s known. People can come to the credit union to build financial stability. Federal and local lawmakers and regulators know Redwood can serve as a trusted partner for relevant initiatives. Community partners know where to send people or who to turn to when looking for support in this capacity.
Now let me tell you a story about a shy little country mouse, who grew up in a family that valued hard work and engrained modesty into their children. When this anxiety-riddled young adult began her professional career, she had little idea of how to speak up for herself. She learned her boss was leaving his role and asked, “Do you think I could maybe possibly…?”
When she got that job, she learned a lot about stepping up and out into the new role, which was much more public. Random people came up to her and complimented her, questioned her, knew who she was. She was even asked for her autograph. She was quite uncomfortable with it all.
Her company was bought by another company and another company, until the division she worked for was a teeny, tiny fish in a big-ass ocean. Fortunately, the division she ran had a strong culture and had worked together for years. They’d all bonded. And damn were they scrappy.
She learned that as the leader of a division she loved, she HAD to speak up for the team, to fight for resources and initiatives. She HAD to speak up to better serve the community they all loved. She HAD to find her voice and #StandUp for credit unions.
Yes, that was me.
And in doing so, without even trying, I made a name for myself in that big-ass ocean. I was a leader, a coach, a team captain, an innovator, a growth engine, a revenue builder, a solution finder. I discovered I was respected.
I’m not telling the story to brag on myself (because it ain’t bragging if it’s true!), I’m sharing this because, even after a century of collectively amazing, life-changing work, credit unions are that introverted little country mouse that doesn’t understand the importance of what they’re doing. That stumbles along just living day-to-day, doing the good work, fighting the good fight, but not making any noise about it.
ENOUGH!
However you need to do it, fight for your team, fight for your members, fight for your community, fight for each other! Let all your stakeholders – your legislators, your community partners, your vendors, anyone who will listen – hear you roar!
When I started my own business – 5 years ago this week! – I was back to country mouse. I can’t do it. This won’t happen for me. Without the support of my husband and a couple of key clients, I couldn’t have succeeded. They made me think, maybe I think this could possibly work. But then, I turned my battle with my imposter syndrome into, this is how I support my family. I have no choice but to succeed and to be able to put food on the dinner table for my husband and then two minor children, I needed to make some noise! I’m fighting for them. I needed to support my team, my stakeholders.
Little by little, I recognized I could do this. I would make it happen. And yes, I still need and want to support my family and my clients. I want credit unions to succeed, so I need the business partners they lean on to expand the reach of their expertise. They need to grow thought leadership and trust, and ultimately their business, so they can provide more useful services and modern tools to provide credit unions with the experience and products their members need, so members brag on their credit unions and credit unions support their members and on and on and on.
Credit unions have a major case of imposter syndrome. You don’t believe you’re doing anything special, meantime your dog loves on your new kitten and it’s an immediate, must-Instagram moment that garners the most likes and shares you’ve seen on your account. The work your credit union is doing has the potential to be just as attention grabbing and a hell of a lot more meaningful in the long run. Here’s how you do it:
Own something. Financial well-being is an excellent place to start. It’s already – I hope – in most credit unions’ strategies anyway.
Be confident you’re owning it by living it every day in every way. Really listen to members and think about how to solve their issues. As Thrive’s Anne Legg says: Members have 4 problems for you to solve: Transportation, Shelter, Travel/Fun and Rainy Day/Retirement. Then provide the tools necessary for them to reach their individual financial stability and wellness.
Know your data. Members have a fount of valuable data if only you can harness it and are willing to be vulnerable, because it is an intimidating feat. Fortunately, Anne has broken it down into bite-sized nuggets. Check her out. Data can tell you the story members aren’t.
Scream your story from the mountaintops! In every outlet you own, pay for or earn through public relations. This will elevate your credit union or company’s brand awareness, trust level with potential business partners and clients, and generate leads. If you don’t have the time for it, I know someone who can help! ;-)
Cooke Consulting Solutions will be offering Public Relations courses this summer! To learn more, join me on my March 29 webinar, Building Your Business through PR, by registering today!
Cooke Consulting Solutions also offers PR training customized to your needs. Holla at me today to learn more!
And tell it quickly, because in today’s world, you only have a few seconds to grab and hold attention. Mitchell, Stankovic & Associates recently hosted Underground Collision: TikTok Thought, in which credit union legends shared and demonstrated how to get a message across that truly resonates concisely! We live in a TikTok world, and credit unions must adopt their message. (Sarah can help with this, too!) Watch the replay at their YouTube Channel and give them a subscription while you’re there!
Share your stories on OwnYourBanking.com, a website Sarah started with great partners like CU Strategic Planning, Open Lending and BALANCE, to help get more credit union and financial wellness education out to the consumers who don’t know credit unions are as hella cool as they are.
Credit unions, we must share our stories in a big way for each other, for consumers and all our stakeholders – past, present and future. If you’re uncomfortable promoting yourself, then promote your members, promote your employees, promote your vision/mission and how you’re living it every day, promote credit unions generally. We constantly talk about scale, and scaling our collective voices is a simple way to do it. As Sue concluded at the Underground, it’s time to #GSD (Get Shit Done)!