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One-On-One With Brian Waugaman of Erie FCU
Manage episode 447459621 series 3316827
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Mark goes 1-on-1 with Erie FCU CEO Brian Waugaman on various topics in and out of the credit union space. What's it like to live in Erie? How did he navigate becoming CEO after a long tenure at the credit union? What's working and what needs work today? What is Brian's crystal ball on the future? All this and more as Mark Ritter and Brian chat it up.
IN THIS EPISODE:
- [1:32] Brian shares his career journey, and he arrived at Erie FCU
- [4:56] The history of Erie FCU and managing the business around Erie’s winter conditions
- [10:33] Brian discusses working his way through the organization and the importance of community
- [16:45] Brian talks about the process of becoming CDFI certification and his hopes to provide funding for small business owners
- [21:32] Brian discusses how to drive commerce, get involved in the community and market CDs to benefit members
- [27:50] What is the future of the credit union space
KEY TAKEAWAYS:
- When promoted within a company, success hinges on building trust and fostering cooperation with colleagues. Clear communication, defined responsibilities, and accountability are essential. Stay focused on the organization's vision and mission to lead effectively.
- Erie FCU refined its vision and mission to focus on becoming the most trusted financial resource in the region and delivering responsible financial solutions that meet community needs. These guiding principles shape the credit union's daily efforts and long-term success.
- Erie FCU sees technology and innovation as key future drivers. While member satisfaction has declined compared to larger banking competitors, the credit union recognizes the need to adapt to evolving technological expectations, similar to the "Amazon effect," to stay competitive and meet member needs.
RESOURCE LINKS
BIOGRAPHY:
Brian Waugaman is a longtime veteran of Erie FCU and has been its CEO for the last ten years. He is well-rounded in his credit union skills and touched virtually all aspects of the institution during his tenure. Erie FCU is a CDFI focused on the communities in northwest PA.
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