Episode 24: Pocket Change Podcast
On this episode of Pocket Change Podcast, we explore the unique culture and mission of Leaders Credit Union through a conversation with our CEO, Todd Swims. They dive into Todd's 33-year journey with Leaders, highlighting the credit union’s growth and his personal experience. Leaders with Love, an annual community service project around the holidays driven by our employees, exemplifies the credit union's commitment to its members and the local community.
“I think it's really important to give back. And I feel like it's really, at the end of day, a real privilege. After all, it's more a blessing to give than receive, right? When we get out of our own selves and our own business, and we really look to the community and see the real needs that really do exist. If we can at all be a part of that, I think it's something that we’re almost just motivated to do because it's just the right thing to do,” Todd said.
Summary
Leaders is a member-owned cooperative, where members are not just customers but owners. This translates to a focus on providing relevant products and services that serve our members and lookout for what is best for them. This also means that Leaders gives back to the community we’re in.
Leaders with Love empowers employees to identify and fulfill needs within the community, showcasing the "people above profit" philosophy. The mission of Leaders is "powering people's passion and making lives better,” which is evident in both our core business and community initiatives like Leaders with Love.
Todd has been at Leaders for 33 years and is proud of the growth he's been able to see. However, he is the proudest of the culture that has been created at Leaders, one of giving to others and caring more for others than ourselves.
Key Takeaways
- Todd emphasizes the importance of Leaders' "servant's heart," referring to an internal branding exercise that revealed their core value as the golden rule. This dedication to putting people first sets Leaders apart in the financial landscape.
- Leaders with Love is an employee-driven initiative where teams choose and execute projects to give back to the community. Todd shares heartwarming stories of past projects, demonstrating the diversity and impact of their efforts.
- Todd explains “the credit union difference,” which is the cooperative model, contrasting it with the for-profit structure of banks. He emphasizes how member ownership translates to better rates, relevant services, and a shared sense of purpose.
- Leaders has a member-focused approach that translates into community involvement and unwavering commitment to making a positive impact.
Watch our full Leaders with Love 2023 video to see some of the incredible projects our financial champions came up with.
Listen and Follow
Full Transcript
Shea:
Hey, this is Shea.
Maddie:
And this is Maddie.
Shea:
Welcome to the Pocket Change podcast.
Maddie:
Where you'll learn better ways to spend, save, and invest and take control of your financial journey.
Shea:
So, Maddie, Leaders with Love is in full swing here at Leaders. And it's one of my favorite projects that we do as a credit union. So everyone gets involved with this project at Leaders.
Maddie:
Yeah, and this is my first year to do Leaders with Love, but I really loved it and just how it's a practical way to really live out our mission here at Leaders. And it's why we're wearing these hats today.
Shea:
We have these festive hats for our festive episode today, and we're going to hear from our president and CEO here at Leaders, and he's going to tell us more about the history behind this project and how it all got started.
Maddie:
Yeah! Think we should take these off?
Shea:
Yeah, maybe we should take these off for this episode.
Maddie:
So we're excited to welcome our guest, our very own CEO here at Leaders, Todd Swims, to the podcast today. Welcome to Pocket Change, Todd.
Todd Swims:
Well, listen, thank you so much. It's a pleasure and first time on.
Maddie:
Yeah, we're happy that we could get you on. So first, just tell us about you and your journey here at Leaders from where you started to where you are now.
Todd Swims:
Wow. I've got to go back a long way and it's actually probably before both of you guys were even born, right? So 33 years ago, came to Leaders. Prior to that, actually had worked for General Motors Acceptance Corporation out of Memphis and was transferred here to a branch office in the Jackson area, along with my new wife.
And so we started here in Jackson working for GMAC. And that led me here through a friend to Leaders. And so 33 years ago today. So that's kind of interesting.
Shea:
And when you started there was one branch or one office?
Todd Swims:
One office. I think we had eight employees and maybe 2,500 members. So very interesting times, but really was a big shift. You know, when I was working for General Motors Acceptance Corporation was a little larger corporation and so kind of used to more corporate type policy procedure, things of that nature. And then I landed at Leaders in 1990 and have been there ever since.
And it's been a growing experience and a professional experience that I really do value. It's just been terrific.
Shea:
And you built us up into a great credit union supporting the community and its members, around 75,000 members now. So it's come a long way since that time.
Todd Swims:
Well, had a lot of help, had a lot of great help, a lot of great, great staff and a lot of professionals that’ve helped us along the way for sure.
Shea:
So thinking back about that, what are you most proud of during that 33 years that Leaders has accomplished?
Todd Swims:
Wow. That's that's a great question, Shea. I'll have to say that looking at exactly what really makes us unique, I think in the marketplace, it has to do with our people - it really does. We've got so many great financial champions that really lead the way on behalf of our members and they do such a tremendous job.
And I think it's really about their heart. You know, every single one of them seem to kind of serve others and serve the community around them. And they have that servant's heart that's really, really important. I'll tell you a funny story, too. Back, I guess, now, maybe ten years or so. We went through a brand refresh. I don't know if you're familiar with that. Y'all may or may not have been around back then.
Shea:
We've seen it. We've seen what the old brand looked like.
Todd Swims:
Yeah. And so we were going through that. We actually hired a consultant and they did a tremendous job. They came in and did a lot of research. They spent time with focus groups. They looked at both internal, you know, folks here at Leaders, our staff, and then also members that actually knew us. And then they actually did some focus group testing with folks in the community.
And they were really trying to figure out, what is your brand, right? And so we were trying to make sure that we put a stake in the ground and we kind of articulated that brand well. And so they helped us kind of gather some information to say like: who do others think that you are?
And so at the end of the day, I got a phone call from the consultant and they said, “Hey, listen, we wanted to have a conversation with you about the findings that we've had”. And they said, “you know, we're having a tough time really understanding how to actually articulate your brand”. And I was kind of a little bit scared at first.
It was like, well, I hope this is good. But they said, you know, it's funny. What we really found is that both the community and also your internal customer is actually saying that they all live by the golden rule and that seems to kind of articulate who you are. And so I got to thinking about that and I thought, I think the golden rule is to, you know, do unto others as you'd have them do unto you.
Right? And so that was a proud moment for me, because quite frankly, it's kind of unusual for that to kind of bubble up really from a business standpoint. And from a community standpoint. So really proud of that. I think that's something that I hope that I've been a little bit of a part of. But, I do know that it really resonates out of the hearts of the folks that we work with each and every day.
Shea:
Yeah, I think it speaks volumes to our culture. And just like you said, the people we have here that are trying to make that difference every day and support our members. So I think that's just a great thing to think back on and look back on over your time at Leaders.
Todd Swims:
Yeah, absolutely. One of the proudest moments.
Maddie:
And because you know we had that heart of giving back to our community and in loving those around us, we have Leaders with Love around Christmas time. So it's an annual event that we do here at Leaders to give back. And so can you kind of tell us how that got started and just the purpose behind Leaders with Love?
Todd Swims:
Yeah, absolutely. Really a fantastic project. We just wrapped that up. And so it's been, really, a fun time for us. But kind of looking back, really what happened from a historical standpoint is we were always around Christmas time, you know, it's always a great thing at Leaders to kind of get together and and have breakfast together with our fellow employees and that sort of thing.
Shea:
Maybe some dirty Santa in there?
Todd Swims:
You know, just have a little fun with, you know, with our financial champions, you know, all of our favorite folks we like to work with. And so that was going on. And we started seeing from different folks within different branches, different areas of the operation itself. They were really looking at ideas of trying to do something for someone else, kind of get out of that self, right?
To kind of look to outside of the walls of Leaders to do something special around Christmas. And so it came up that, hey, wouldn't it be great if everybody chose a project and just really found something they could do to really take care of somebody else that's in need. And, you know, in the Christmas time, you know, the spirits in the air and everybody is really, really all about trying to look at somebody else outside of yourself.
And so giving back was really important. And so, they wanted to do it. And it has been just something that everyone looks forward to each and every year, that's for sure.
Shea:
So we all ran with it about, I think, seven, six or seven years ago. And from the heart of employees just to be able to do something in the community and it's come this far, we're still doing it today. What is one of your favorite projects that Leaders worked on in years past?
Todd Swims:
Oh you’re putting me on the spot because there are a lot! When I really think back over the years, it's really interesting because every project that kind of bubbles up in each area, whether it's in the Memphis office or whether it's in, you know, over in Union City, wherever it might be here in Jackson, each group really has the opportunity to kind of look around and start preparing for what do we see and what need do we see.
And so there's so many needs are fulfilled during this whole project time that it's really hard to pin one down. But I do have a couple. I love this. And one of the stories that I heard - and this was actually from one of our very own. We had an employee that was really struggling. She was battling cancer and thank goodness she recovered.
And she you know, the journey that she had was just amazing. The staff that was closest to her and around her really recognize is that there were people here in our very own community really taking care of her healing process. And so I know the Kirkland Cancer Center was instrumental in helping her move forward and healing.
And so they chose to actually really give back there, you know, and so I think breakfast was served and just big hugs and thank you for just doing something special for one of our own and another one that I really love actually has to do with a smaller branch. You know, when you're in a smaller branch, you always get to know your members very, very well.
And sometimes you see the same members every single week. And so, this branch did and they recognized that there were two or three people that really they knew well and knew they were struggling with a few things and one of their favorite members actually came to see them each week on a scooter, you know, like you see at Wal Mart or something like that - or Target. But he actually lived in an assisted living community. And he would come down and visit each week and take care of business. And a week or so passed and he didn't come in. And so they called to check on him and said, “Where is he?” you know, “We haven't seen him”. And his scooter actually broke down and was having problems.
And so anyway, they raised money to take care of that and to make sure that he had the transportation he needed, you know, to get back and forth. So kind of a unique give back, actually, and really love that. But man, doing so many great things. There's been folks here at Leaders that have chosen to really take care of our first responders and be attentive to them and different food banks and care packages that are being delivered.
So there's just so many different projects that really kind of come from this particular Leaders for Love project. And so really, really interesting to see the outcome of that.
Maddie:
Yeah, and I love that here at Leaders we’re giving, you know, our financial champions, our employees the opportunity to see a need and like enabling them to meet that need. That that's encouraged of us and like that you want us personally to give back to our community. And so I think just this whole project really speaks a lot to that mission here at Leaders.
It's not just in writing, but we really do live it out through projects like Leaders with Love.
Todd Swims:
Yeah, you know, and I really think that it would probably happen organically anyway without, you know, Leaders with Love around it. Because we do have so many people with just that heart, that passion to really do something for someone else.
Maddie:
So why do you think it's important to give back to our community?
Todd Swims:
Oh wow, I tell you, you know, we've been blessed as a business and an organization that operates in several different communities. And it's really a... not only just a privilege, but I think it's an obligation really from any business that really benefits from a community to for sure, be aware of what's around you and and try to play a bigger role than just the business itself.
So I think it's really important to give back. And I feel like it's really, at the end of day, you know, a real privilege. After all, it's more a blessing to give than receive, right? And so when we get out of our own selves and our own business and we really look to the community and see the real needs that really do exist. If we can at all be a part of that, I think it's something that we’re almost just motivated to do because it's just the right thing to do, you know?
Shea:
And I think it goes back to our mission. It kind of fulfills the mission of credit unions, right? People helping people.
Todd Swims:
Our mission is actually powering people's passion, you know, and making lives better. And I think that passion from our financial champions here at Leaders is something that we really get to see on display, you know, through this Leaders with Love project.
Shea:
To see what they're passionate about and what we can get behind.
Todd Swims:
Absolutely. And so I love the fact that they get to choose it on their own and do things that they're passionate about in the community because it is kind of who we are and our core mission. Yeah, absolutely.
Shea:
What do you think the credit union difference is and how is that important?
Todd Swims:
Oh Shea, I get asked that question a million times a year, I think.
Shea:
Me too.
Todd Swims:
Yeah, I hear credit, the word credit union. What does that really mean and how is that different than a bank? And I will tell you, I think that for me personally, early on in my career with Leaders, it was something that I had to get very familiar with. But I tell you in in a nutshell, it really has to do with: it's a member owned cooperative, which is really different than what you'll find sometimes in that for profit model. That member owned cooperative, really, the members are really at the center and the core of our business and everything that we do. And so the difference there really resonates, I think, and really what they see and probably the focus that we have really as an organization, but this member own cooperative is really owned by every member and they own an equal share of Leaders.
And we're just unique in that respect, right? When everybody walks in the door, anybody that walks in the door, you know, they're an equal owner, they're an owner of our business. And so that truly does make a difference. And I think it actually makes a difference in our mindset. When you think about delivering products that are relevant and services that are relevant and making sure that, you know, you're paying a fair rate and a better rate if you can at all.
So saving well and spending well, I think is what it's all about. It is a unique business model and it's something that I have just enjoyed tremendously being a part of. I've seen a lot of growth. And I think that it does resonate with people in our communities.
Shea:
I think once they find out the difference, you know, where a lot of what we do is educate people about the difference. And so I think once people find out they're, you know, surprised and excited that there's something like this that they can be a part of and they notice that focus, that mission that we talked about and they can see the difference.
And so I think that kind of goes right along with Leaders with Love, because it showcases that it's kind of on display. You know, we're out doing those projects and supporting our community.
Todd Swims:
Right. It’s kind of people above profit, right? So to some degree that is a part of it. And we've got to make money, right? So we have to make sure that we have a healthy and financially sound financial institution to be around for years and years and years and hopefully we've done a good job. We were chartered in 1957, been around for a very long time doing the same thing.
But, you know, now we serve over 75,000 members. And it's just been remarkable to see the growth that we've experienced. And so hopefully people appreciate it and appreciate what we do, and at least we hope so.
Shea:
Exactly.
Maddie:
So we have one final question for you today, Todd, and it's a fun one. So if you had any extra change in your pocket, what would you do with it?
Todd Swims:
Oh, wow. Well, it's pretty easy, actually. So, I have one granddaughter. So Shea, I am old. Getting old. And looking forward to one that’s on its way as well. If I had a little change in my pocket, I promise you I would probably take that little girl out for some ice cream or buy a popsicle cause that’s her favorite thing right now.
So she's turning two soon and we're super excited, But yeah, that's what I would do with it. I would spoil her rotten with whatever I had in my pocket.
Maddie:
That’s a fun one.
Shea:
That's what grandparents do. That's what they're for.
Maddie:
That's their job. Well thank you so much for being on the podcast today. We really love talking to you today.
Todd Swims:
Well, thank y’all. I enjoyed it. I enjoyed it very much. Merry Christmas, guys.
