Today’s credit union leadership – especially at the nation’s best and biggest credit unions- is professional and deeply versed in financial services. But that wasn’t always so in credit union land.
This episode opens with Kirk Kordeleski – onetime CEO at Bethpage Federal Credit Union, one of the nation’s biggest, and now an executive at OM Financial Group, which specializes in SERPs which are building block retirement plans for key credit union executives – giving us a history lesson on the five generations of credit union leadership. He starts way back when everybody was a volunteer and takes us to today where we now are moving into the sixth generation of post-Baby Boomer leadership.
Then we take up what has become a challenge in many credit unions’ budgeting: payroll in general and executive salaries and total comp in particular. What Kordeleski says boils down to this: in most cases nowadays you get what you pay for.
And today credit unions need exceptional leadership as we shift into an environment of inflation, a possible recession, and where liquidity is a key but liquidity also often is hard to come by.
Remember, this is the one-time CEO of one of the nation’s biggest – and most aggressive – credit unions and he is offering what amounts to free consulting insights.
Take notes, it’s all good stuff.
You may not always agree with Kordeleski but you will learn from him.