My Journey to Credit Union Leadership: Elizabeth Hayes of Workers Credit Union

Name: Elizabeth Hayes

Credit Union: Workers Credit Union ($2.6 billion, Littleton, Mass.)

Title: EVP and Chief Member Experience Officer

Number of years at current credit union: About one year at Workers. I’ve been an executive for over 15 years, as President/CEO of Infinity Credit Union ($336 million, Westbrook, Maine) and as Chief Administrative Officer at Affinity Plus Federal Credit Union ($4.1 billion, St. Paul, Minn.)

Educational background: Master of arts in organizational leadership from St. Catherine University; bachelor’s degree in marketing and financial services from Metro State University, both in St. Paul.

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

Hayes: I lead all member-facing departments at Workers Credit Union, which includes overseeing the branch teams, PlanIt Centers, marketing, wealth management, and the credit union’s Learning and Development group.

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

Hayes: I started my career in marketing at a bank in Minneapolis as a consumer product analyst. After a few years, I was recruited to be a consultant at Liberty Check Printers, a check printer that worked almost exclusively with credit unions. This was my first exposure to credit unions. My job at Liberty Check Printers was to help develop their strategic plan, grow their membership, and increase and deepen relationships with their members. I quickly learned that credit union executives are concerned about the impact of their decisions on members. At the time, this was a new and different perspective I had not previously experienced at banks. Once I saw the power of the credit union’s not-for-profit cooperative structure, I never wanted to go back to banking. I truly believe that credit unions have a unique opportunity to make a difference in the lives of our members that other financial institutions find challenging because they must answer to shareholders. Credit unions answer to members as owners. The cooperative structure is an important differentiator between banks and credit unions.

CU Times: What unique skills, experience and attributes do you bring to the C-suite?

Hayes: Throughout my career, I’ve earned a reputation for getting positive results for the credit union by focusing on doing what’s right for our members, as well as the organization and employees. Profits and revenue are critically important and necessary to running a successful credit union. The difference is how we generate them – it’s possible to make a profit for the credit union and do what’s right for the member. It is not mutually exclusive and is a really great way to run a business.

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

Hayes: My husband, Paul, and daughters Lucy, Audrey and Irene have been my biggest supporters, advisers and cheerleaders. I simply couldn’t have done it without them. It’s not easy to have a big job professionally and be devoted to your family. However, as a family, we’ve learned that there’s room for everyone to do what they love and no one individual needs to sacrifice more than they should for the good of everyone else. Hopefully, I’ve modeled being a good mom and having a successful career for my daughters so that they know they can do both, if that’s what they choose to do.

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

Hayes: Being a successful executive leader works best when you see your success in the success of others. As an executive, I learned to act on what’s best for the collective whole, including members and employees, more than on what’s in it for me and my own self-interest. This is a leadership attribute that does not always come naturally to new leaders who are ambitious and driven to succeed. But, as you progress professionally, you quickly learn that if you take care of your team, they will take care of you. At least that’s been my experience.

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

Hayes: I am a collaborative leader who is driven for results. I believe that the best results are achieved by a high-performing team that is committed to the same end goal and whose members are committed to one another. I often say that we can move a mountain with a great plan and the right people on your team to execute it. If you have both, then anything is possible.

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

Hayes: Although my temperament and style may have changed somewhat over the years, my drive for doing the right thing for people and our communities has not changed. If anything, I believe more than ever that not only is it possible to serve people and the community, but it’s also the best way to run a business that is successful over time.

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.