Elevating Productivity: Building and Sustaining High-Performance Teams
For credit union executives, optimizing productivity is often at the heart of achieving growth, efficiency, and member satisfaction. Research consistently demonstrates that executives are five times more productive when they operate within a high-performance team.
The path to building a high-performance team may require time and effort, but the rewards for credit union executives and their organizations are well worth it. A highly productive, motivated team enables leaders to focus on strategic initiatives, confident that the team is equipped to excel and create value.
Here, we’ll explore seven core characteristics of high-performance teams and how credit union leaders can cultivate them to maximize productivity and foster innovation within their organizations.
1. Shared Vision and Goals
A high-performance team starts with a shared vision and aligned goals. Leaders play a critical role in ensuring goals are transparent, ambitious, and well-communicated throughout the team. As a result, each team member understands not only the credit union’s objectives but also their own role in achieving those goals.
In credit unions, where alignment with members’ financial well-being is central, a clear vision and shared purpose goes beyond profit, resonating with a mission-driven approach that can motivate teams to strive for excellence. For executives, working with a team that’s genuinely invested in the credit union’s mission amplifies productivity as everyone’s focus remains on impactful, member-centered outcomes.
A West Coast-based CEO recently shared how his credit union wanted more members to prepare for the “out of the blue” emergencies of life. “When research shows that many Americans would struggle to secure $400 for an emergency, we knew we had an opportunity to make a difference in our members’ lives. We set a goal to see that more than half of our members maintained that kind of balance in savings. We encouraged members to begin saving. As a result, our numbers are growing, our members are saving more, and a new set of tires is not a financial hardship. Our team rallied around this chance to make a difference.”
2. Strong Leadership and Mutual Accountability
A strong leader fosters trust, delegates with clarity, and promotes mutual accountability among team members. But it’s not just about the executive setting the tone; team members also need to hold each other accountable. In an environment where mutual accountability thrives, performance increases as team members are motivated to meet high standards for themselves and each other.
For credit union executives, fostering mutual accountability encourages open dialogue, regular feedback, and a commitment to shared results. When a team holds itself to the highest standards, executives can focus more on strategic decision-making and less on day-to-day oversight, creating an environment where productivity is both high and sustainable.
3. Commitment to Continuous Learning and Development
High-performance teams are often committed to continuous improvement and learning. They seek to expand their knowledge, improve skills, and stay updated on industry trends. For credit unions, this can mean deepening expertise in areas like digital banking, financial literacy, regulatory compliance, and member experience innovation.
Executives benefit significantly when they invest in their teams’ professional growth, whether through training, certifications, or mentorship programs. Such investments pay dividends, as well-equipped teams are better able to anticipate challenges, adapt to changes, and innovate effectively. This continuous learning mindset ensures that the team evolves with the industry, which is essential for long-term productivity.
4. Empowered Decision-Making and Ownership
When team members feel empowered to make decisions, they are more engaged, proactive, and productive. This empowerment requires clear delegation from executives and a culture that encourages team members to take ownership of their work.
Credit unions frequently face changes in regulations, economic conditions, and member needs. Empowering team members to make informed decisions—whether in risk assessment, loan processing, or member engagement—enables faster, more agile responses to these changes. Empowered teams not only alleviate the executive’s workload but also enhance overall team productivity and morale.
A Midwest CEO recently shared a goal to have member exceptions addressed at the first level of contact. “If an exception arises that a front-line leader cannot address, it comes to my attention. From there, I want the member experience to change so that the front-line leader can serve the member at the moment of truth. I’ve been busy serving members in the near term, but also devising ways that similar scenarios are taken care of on the spot.”
5. Effective Communication and Collaboration
In a high-performance environment, communication needs to be efficient, honest, and purposeful. Regular and open communication fosters clarity, prevents misunderstandings, and encourages collaboration across departments.
Leaders can benefit from setting up structured communication channels, such as weekly check-ins or project management tools, which allow team members to align on priorities and progress. When team members feel comfortable sharing feedback and communicating openly with each other, productivity flourishes as tasks are completed with fewer roadblocks and greater cohesion.
6. Diverse Skills and Perspectives
Teams composed of individuals with varied skills, backgrounds, and perspectives are better positioned to tackle challenges creatively and drive innovative solutions. A high-performance team in a credit union might include members from different departments—such as lending, IT, and member services, bringing unique insights and expertise to the table.
For executives, working with a diverse team can be highly productive, as it enables the organization to approach challenges from multiple angles. A variety of perspectives ensures well-rounded decision-making, often leading to more sustainable and successful outcomes. When team members feel valued for their unique contributions, they’re also more motivated to excel in their roles.
7. High Levels of Trust and Psychological Safety
A trusting environment allows team members to focus on their work without fear of micromanagement or criticism. Psychological safety—the ability to take risks and voice opinions without judgment—fosters creativity and problem-solving.
Nurturing trust and psychological safety can dramatically improve team dynamics. Executives should model transparent, empathetic communication and encourage an atmosphere where mistakes are seen as learning opportunities. When teams feel safe and trusted, they can innovate freely, collaborate effectively, and contribute more productively.
“All the ideas we need to succeed are in this room,” is my favorite phrase, said a Canadian CEO. “My team knows that I value every insight, idea, and initiative, whether it’s right for the moment or not. When we discuss and debate everything, we freely vet and solve our biggest challenges and opportunities.”
To create and sustain high-performance teams, credit union executives need to be intentional in nurturing each of these characteristics. A team built on shared goals, empowered decision-making, continuous learning, and trust will not only boost productivity but also drive long-term organizational success. By investing in a high-performance team culture, executives ensure greater productivity, along with making a deeper impact on the credit union’s mission, member satisfaction, and community well-being.
© 2024 by Jeff Rendel. All rights reserved.
Jeff Rendel, Certified Speaking Professional and President of Rising Above Enterprises, works with credit unions that want entrepreneurial results in sales, service, and strategy. Each year, he addresses and facilitates for more than 100 credit unions and their business partners.
Contact: jeff@jeffrendel.com; www.jeffrendel.com; 951.310.7275 (mobile).