My Journey to Credit Union Leadership: Timothy Moore of Allegacy Federal Credit Union

Name: Timothy Moore

Credit Union: Allegacy Federal Credit Union ($2.2 billion, Winston Salem, N.C.)

Title: General Counsel and Chief Risk Officer

Age: 51

Number of years at current credit union: Eight; joined Allegacy’s executive management team in March 2021

Educational background: Bachelor of arts from University of North Carolina-Chapel Hill; Juris Doctorate from Washington and Lee University

CU Times: What are your key responsibilities in your current role?

Moore: In less than three years, I have held two different positions on Allegacy’s executive management team. In May 2023, I became general counsel and chief risk officer. In this role, I lead our legal, compliance, fraud and enterprise risk groups, and have primary responsibility regarding governance and our government relations efforts. From 2021 to May 2023, I was president of Allegacy Services, which is our CUSO holding company. In this role, I was responsible for Allegacy Services and its various holdings.

CU Times: What drew you to the credit union industry?

Moore: For me, the draw was to Allegacy itself. I had done work for Allegacy when I was in private practice, so I knew many in the organization and thought very highly of them. I also knew of Allegacy’s great reputation and community involvement. I also believed that I could make a real difference here and wanted to be helpful. I can say that one of the things that has impressed me the most about the credit union industry is its collaborative spirit. Credit unions are always ready to support other credit unions and understand that each of us are serving the same mission and movement.

CU Times: What unique skills, experience and attributes do you bring to your role?

Moore: Law school is an experience that will shape (or some may say, warp) someone for life. It’s impossible to move beyond the analytical and questioning training one receives. So, I question all the time. This is how I learn. It’s not without difficulties because I’ve learned the hard way to always be careful. Constant questioning can put others on the defense, so I needed to be intentional to question in as open and friendly a manner as possible. Through this process, I aim to better understand not only what we are doing, but why we are doing it. Sometimes, I learn that we can do it better, and sometimes I learn that although it looks odd, it is the best way to do it given our circumstances. Regardless, it is through this process that I better learn how I can best contribute and lead.

CU Times: Which person (or people) do you credit the most for helping and supporting you along your career journey?

Moore: I would thank my parents for all their support and the work ethic they instilled in me from a young age. I’d also recognize one of my former law partners, Lloyd Baucom, for helping me understand the need to develop personal relationships. Finally, I’d credit Cathy J. Pace, Allegacy’s president/CEO. It was not always easy for me coming from a private firm background, but she gave me great counsel on how not only to survive but succeed in our culture.

CU Times: What are some of the biggest differences between working in your current executive level role and your previous, non-executive roles?

Moore: One of the biggest differences that I struggle with is delegating or letting go. I am so fortunate to have a great team around me, who can do their jobs and more. Sometimes, when I want something done or need some information, my first instinct is to do it myself. In my current role, I’ve learned to be careful about my independence and capabilities as a worker and rely on my team to complete what needs to be done. Oftentimes, if I reach too far into a problem, I could serve to only mess it up!

CU Times: What’s a challenge you faced when you first joined your executive team, and how did you overcome it?

Moore: Prior to my joining the Allegacy executive management team in 2021, I had been general counsel for five years. Although I was extremely excited about my new role, I knew it was going to be challenging because I was leading new (to me) teams and business lines. First and foremost, I was able to rely on the excellent management team that was already in place. They were patient and gracious to me as I spent the first 90 days focused on learning. I strongly believe a leader should focus on the important topics and try to keep things as simple as possible. This duality enabled me to implement important fundamental realignments of Allegacy Services without getting mired in operational details.

CU Times: How would you describe your current leadership style?

Moore: Leadership styles should evolve over time based on the needs of the team and organization. With that being said, I know there are some constants in my approach, which tend to a “transformational” leadership style. By this I mean, I am not only comfortable with change, but embrace it and believe it is necessary for a successful organization. It’s important that my team is also comfortable with it. I prefer to set goals and then collaborate with my team to find what is doable from a practical level and the best way to accomplish it, and then offer support for success.

CU Times: Do you approach your job any differently now compared to how you did pre-pandemic? If yes, how so?

Moore: I joined the executive management team during the pandemic, so I don’t have a pre-pandemic perspective of executive leadership. However, I was in a senior leader position pre-pandemic and do have a different approach. One must be more intentional in a world where many meetings are virtual and set aside time to work on relationships with co-workers. It is these personal relationships that establish trust and appreciation for each other. It allows us to enjoy our roles and become more efficient not only as individuals, but as teammates and organizations.

CU Times: What’s next for you on your executive career journey? Do you have any specific career goals you’re working toward?

Moore: In my role, I’m able to create positive impacts and change, and contribute to the organization to help live out its mission. Being part of Allegacy means that I am working to improve the lives of more than 175,000 members, and am surrounded by smart, caring and talented people. So, as long as I enjoy where I’m at, then I am in no hurry to move on.

CU Times: What big-picture impact do you hope to make within your credit union, as well as for your members and community?

Moore: I truly believe in the mission of credit unions and what many refer to as, “the credit union difference.” I aim to continue helping Allegacy grow and to improve. By prioritizing our members, we can help improve their financial lives and provide resources they need to be successful. Simultaneously, I believe that Allegacy, like all credit unions, should be committed to improving the communities where our members live, work, worship and study. It is through the roles our members play in our community that allow credit unions to thrive and distinguish themselves. The trust and relationships Allegacy shares with its members ensures we will continue to grow for many years to come.

CU Times: What career advice would you give your younger self?

Moore: I would tell my younger self that it is alright not to always know the answer immediately when asked. Before you solve a problem, you must take an approach from all angles and perspectives to gain a more holistic view. I’d also say early on that “good is not the enemy of perfect.” I also would tell myself that there will be some moments in your career that are difficult, but those times will shape you into a better and more appreciative leader.

Would you or someone you know like to share your journey to credit union leadership? Please reach out to Natasha Chilingerian at nchilingerian@cutimes.com. To qualify, you must have been placed or promoted into a new senior-level leadership role within the last three years at a credit union.