RIVERDALE, Utah– After starting out 46 years ago in a job that involved microfilming loan and membership documents, John B. Lund, president and CEO of America First Credit Union, has announced plans to retire in the Spring. Lund was named to the lead the organization in 2012, and since that time America First Credit Union has expanded its branch network to 127 from 104 to 128, its assets to $14.2-billion from $5.5 billion to $14.2 billion, and its membership to 1,159,227 from 592,309.
Below, Mr. Lund shares some of his thoughts on managing and leading people, three “guiding pillars” to drive growth, and what lies ahead for credit unions.
CUToday.info: How did you come to be involved in credit unions?
Lund: I remember as a young boy my mother and father speaking almost reverently about their credit union and how important it was to them and our family. As I reflect back, this seems like a strange memory for a rambunctious boy who would rather be out running around the neighborhood with his buddies. I hardly knew what a credit union was, let alone have any reason to care about it. I honestly don’t know if the credit union helped my parents through a tough economic period, provided a needed loan, or in some other way improved their financial situation, but I do know they loved their credit union.
Little did I know that several years later this same institution would come to be my life’s work, and truly bless my life and that of my family. When I was 21 years of age, I found myself in a hospital bed for over a week, and subsequently in a body cast for six months. I was very frustrated at the time; and felt very limited in what I thought I could do. I was extremely fortunate to be offered a job at the credit union microfilming loan and membership documents, and once the cast came off I moved up to the courier! I learned very quickly the purity of purpose of this credit union; and spent the next 46 years enjoying an amazing association with fabulous people in an effort to improve the financial well-being of our members.
CUToday.info: What have you learned about managing and leading people during your career, and has that changed?
Lund: A team or organization is only as good as the people within in it. There are many important aspects and attributes regarding leadership, but sticking to the basics will provide a strong foundation to build upon. It is my belief that the most successful leaders consistently execute on the basics of mutual respect, listening, regular communication and accountability in the form of one-on-one meetings, staff meetings, goal setting, training, and reporting. The leadership sets the tone and establishes the clarity of purpose and vision but buy-in from the team is critical to success.
It’s important for our teams to share in successes as well as the shortcomings. It’s important for our people to feel satisfaction and that what they do has real value beyond just a means to pay the bills.
Stick to the basics! I wouldn’t say my philosophy on leadership has changed, but it has matured over time.
CUToday.info: What have you learned about driving growth at the credit union, and has that changed?
Lund: In addition to our mission statement, we have three guiding pillars that we feel are critical to our long-term growth and sustainability:
- Lifetime Member Relationships
- Strategic and Balanced Growth
- Financial Strength and Integrity.
We feel growth is essential, but we don’t grow just for growth’s sake. If growth plans focus on relevant and lasting relationships with members, and it’s done in a financially sound and ethical manner, growth will be the natural outcome.
Another significant factor to strategic growth is embracing technology and being able to attract and retain younger members; and developing a field of membership that allows for diversification of risk.
As far as changing goes, it is important to not only embrace change, but also to be forward looking enough to remain relevant to our members changing needs and wants.
CUToday.info: If you could go back and talk to yourself on day one of the job, or speak with a new CEO, what advice would you share?
Lund: Be forward-thinking, listen more than you talk, create an open environment, set the example of what is expected, lose the ego, recognize performance and give others credit.
CUToday.info: What is your view on the future of credit unions, if there is to be one?
Lund: The future of credit unions is very bright, but we must remain vigilant in protecting and enhancing the ability to serve our members, telling our story, changing and adapting, and maintaining our core purpose and mission. We are uniquely suited to improve the financial well-being of our members and to help simplify the financial portion of their lives.