32 THE NAFCU JOURNAL May–June 2023 EXECUTIVE SPOTLIGHT Q: What led you to the credit union sector, and to Great Lakes Credit Union (GLCU)? A: I was first drawn to a credit union as they were looking for a leader who understood the financial industry, but someone not in the industry currently with experience in marketing, branding, sales and distribution. I liked the “People Helping People” Philosophy and their commitment to enhance engagement in their communities. Without the CEO of that credit union developing and giving me the opportunity to expand my career to eventually become EVP, I would not be where I am today. GLCU was looking for a leader to enhance their strategies to make them an even more formidable competitor. They desired a leader who was committed to change and would form strong community partnerships. This role was the next logical step for me. Q: What’s your leadership style? How do you lead an engaged team? A: I lead by being emotionally stable, calm, expressive, confident, assertive, ambitious, a calculated risk taker, hard-working and detailed, while being a motivator and mentor, and assessing what I could have done better. I place value in always learning, relationship building, being curious, challenging the status quo, and being imaginative, along with always looking to be receptive to STEVE BUGG Great Lakes Credit Union President and CEO innovation while maintaining a friendly, cooperative and empathetic spirit. I expect professionalism, accountability, teamwork, respect, integrity, honesty and open communication along with having high positive energy. Our senior leadership team has utilized the Entrepreneurial Operating System (EOS)/Traction. This dramatic organizational shift has aided me in leading a strong and highly engaged team. Q: Great Lakes Credit Union has been recognized for its community involvement. What are some of the ways Great Lakes Credit Union gives back to the communities and members it serves? A: At GLCU, 70% of employees have volunteered 1,400 hours at 70 events. We supported youth literacy through our Mad City Money program and reading events and conducted our “Fill the Boat” drive to benefit local schools, collecting more than 14,000 items. We are one of only six credit unions in the U.S. to offer HUD-Approved Housing and Financial Counseling services. Through the Illinois Rental Payment Protection, Asylum Seeker Housing and the Court-Based Rental programs, we assisted 82 housing providers and 1,843 tenants. Through the Illinois Homeowner Assistance Fund program, we assisted 656 applicants and held 618 foreclosure intervention counseling sessions. Q: What advice do you have for other executives also trying to lead their teams through an uncertain economic environment? A: It is fine to have discomfort in not knowing. Be open and transparent. Understand the need for empathy during uncertainty. Remain calm, cool and collected. Don’t jump to quick conclusions and utilize long-term strategies as a “guiding star.” With any strategy you need scenario planning, or “what if” scenarios. Leaders must not jump quickly and/ or bury their head in the sand. You are not in this alone. Use your resources and engage your strong network to connect on your concerns. You can’t control everything, so focus on what you can control! Q: How do you attract and retain dedicated employees? A: It starts with identifying the right candidates. We look for more than just experience. We focus on the candidate’s core competencies and ensure they align with ours. We recruit diverse candidates that have an entrepreneurial spirit and thrive in an environment where they can run their business. We focus on offering a competitive compensation and benefits package with a concentrated effort centered around improving our employees’ wellness. Structured learning and development are part of our commitment. I’m proud to say GLCU’s internal promotion rate was 63.8% last year.
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