Host Barry interviews Michael Crowl, CEO of University Federal Credit Union (UFCU). Michael shares his unconventional career path, leadership philosophy, and the importance of member satisfaction in the credit union industry. He discusses UFCU’s focus on consumer banking, strategic decisions, and adapting to trends like digital transformation and AI. Michael emphasizes the value of authentic leadership, member engagement, and continuous improvement. The episode also features personal insights, Michael's book recommendations, and advice for young professionals on building relationships, understanding values, and embracing intentionality in both career and life.
Host Barry interviews Michael Crowl, CEO of University Federal Credit Union (UFCU). Michael shares his unconventional career path, leadership philosophy, and the importance of member satisfaction in the credit union industry. He discusses UFCU’s focus on consumer banking, strategic decisions, and adapting to trends like digital transformation and AI. Michael emphasizes the value of authentic leadership, member engagement, and continuous improvement. The episode also features personal insights, Michael's book recommendations, and advice for young professionals on building relationships, understanding values, and embracing intentionality in both career and life.
Michael’s Career Path and Lessons Learned (00:00:27)
Michael discusses his unexpected path to CEO, early roles, and key leadership lessons.
Background and Early Career (00:02:14)
Michael shares his CPA journey, finance background, and transition from investment banking to credit unions.
Becoming CEO and Strategic Planning (00:04:00)
Michael explains his transition to CEO, overlap with predecessor, and involvement in strategic planning.
The Responsibility of Being CEO (00:05:12)
Michael reflects on the weight of leading a member-owned cooperative and balancing multiple stakeholder needs.
Focus Areas as CEO (00:09:13)
Michael identifies member satisfaction, loyalty, and membership growth as his primary focus areas.
Gathering and Responding to Member Feedback (00:10:29)
Discussion of UFCU’s survey system, focus groups, and how member feedback is collected and analyzed.
Sharing Feedback with Staff (00:12:15)
Michael describes how survey results and member sentiments are communicated to staff for continuous improvement.
Handling Negative Feedback (00:13:25)
Michael outlines internal processes for responding to dissatisfied members and the importance of follow-up.
Culture of Member Service (00:15:09)
Emphasis on organization-wide commitment to member service, including back-office staff.
Aspirations and Member Love (00:17:22)
Michael discusses UFCU’s aspiration to be “loved by millions” and the correlation between love, NPS, and performance.
Michael’s Childhood Ambitions (00:18:39)
Michael reflects on his childhood interests, love of math, and early analytical tendencies.
Balancing Analytics and People Skills (00:20:46)
Michael talks about evolving from a numbers focus to valuing people and relationships, influenced by his wife.
Community Engagement and Relationship Building (00:21:37)
Michael explains the importance of external engagement and relational culture at UFCU.
Leadership Journey and Development (00:23:03)
Michael shares insights on leadership growth, coaching, and the importance of being worthy of being followed.
About UFCU: Products, Services, and Value Proposition (00:26:05)
Overview of UFCU’s history, member-centric approach, and focus on omnichannel consumer banking.
Exiting Commercial Lending for Focus (00:28:14)
Michael explains the decision to exit commercial lending to focus on consumer banking and organizational strengths.
The Importance of Focus and Bold Moves (00:30:44)
Discussion on strategic focus, making hard choices, and UFCU’s “bold moves” inspired by McKinsey research.
Trends in Credit Unions and Business: AI and Digital Transformation (00:33:43)
Michael discusses the impact of AI, digital transformation, and the need for responsible innovation.
Applications of AI in Member Service (00:37:08)
Barry and Michael discuss practical uses of AI, such as chatbots and improving customer experience.
Personal Interests and Work-Life Balance (00:38:31)
Michael shares his hobbies, like running and spending time outdoors, for mental reset and perspective.
Book Recommendation: The Geek Way (00:39:45)
Michael recommends “The Geek Way” for insights on mindset and organizational value creation.
Favorite Foods (00:40:38)
Michael mentions his love for barbecue and Tex-Mex cuisine.
Personal Values: Integrity and Authenticity (00:41:05)
Michael highlights integrity and authenticity as his core values and leadership principles.
Best Advice Received: Know Your Values (00:42:37)
Michael emphasizes the importance of understanding and living by one’s true values.
Advice for Young Professionals (00:44:13)
Michael advises young people to maximize 401k, build relationships, be curious, and engage actively in their careers.