Your Business Called. It Wants a Champion.

Episode 80: Pocket Change Podcast

What does great teamwork look like?

According to Spencer, teamwork is at its best is when a team can perform without saying a word. This requires good communication, clear expectations, and playing to each other’s strengths. When these work together, a team is ready for go time!

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Full Transcript

Shea:

Hey, this is Shea.

Carrie:

And this is Carrie.

Shea:

Welcome to the Pocket Change Podcast.

Carrie:

Where you'll learn better ways to spend, save, and invest and take control of your financial journey.

Shea:

So Carrie. A lot of our members may have a side hustle. Maybe they work or own a small business, and we're going to get to know a little bit more about those services that those members need, and how we can help.

Carrie:

That's right. I don't know if you knew this, but I have a side hustle.

Shea:

Exactly.

Carrie:

I have a business, so it's really important to make sure that your business account is somewhere you trust and you have someone to advocate for you. And we're going to talk to someone who knows all about that today.

Shea:

And really help guide our members on their on their journey.

Carrie:

We're excited to welcome our guest, Tanner Spencer, one of our financial champions here at Leaders. Welcome to Pocket Change.

Tanner Spencer:

Thank you.

Carrie:

Thanks. So tell us a little bit about yourself and how you got here at Leaders.

Tanner Spencer:

Yeah. So I am originally from Martin, Tennessee. I graduated from UT Martin with a business degree. Basically, I didn't really know what I wanted to do after college, so I got a degree that you could do pretty much anything with. Obviously, the trouble in that is you can do anything, and so.

Shea:

You gotta figure it out.

Carrie:

That’s right.

Tanner Spencer:

Yeah, exactly. That's right. So I landed at an accounting firm, very small running payroll, which was basically just data entry. I learned very fast that was not for me. Sitting in an office with a computer screen and, like, no people. And so I did not enjoy that at all. But shortly after, I started working there, my boss came in and told me that they would be closing the firm, which is typically, you know, pretty bad news. But for me, it was great news. It meant that I had to start applying.

Carrie:

You had a way out.

Tanner Spencer:

So I had to look for something different. Somebody suggested that I apply at leaders. I did so and ended up getting an interview with our CEO, Todd and our CFO, Seth.

Shea:

So first interview?

Tanner Spencer:

First interview. Like no pressure. I don't even know what I'm doing really at that point. But they came up with a plan for me to start as a teller. Work that for three months. Go to our call center, work that for three months, and then let me loose in the branch as an MSR. So that was really how I got started at Leaders. It was it was a good way for me to learn how to work in a credit union from the ground up as a teller, even up to eventually a branch manager and now business services.

Carrie:

So how long have you been here at Leaders?

Tanner Spencer:

September, it will be ten years.

Carrie:

Wow. Went by pretty fast, huh?

Tanner Spencer:

It went by very fast. Yes it did.

Shea:

Yeah. So you've had a lot of different roles at Leaders, but what did you enjoy about managing a branch? You were at one of our branches for a while and got to do that.

Tanner Spencer:

Yeah. So I managed two different branches, one, our North Highland branch by the mall and then our Thomsen Farms branches. So very different cultures at both of those places. Very different membership base. But my really my favorite thing about managing a branch was, you know, I mentioned I started as a teller. I remember starting, like, first day nerves. You're dealing with people's money. It's an anxiety ridden day, right? And seeing, you know, young people come in being exactly like I was… being nervous and being able to coach them through that and coach some confidence into them and, and watch them grow and even grow into different roles in different areas of the credit union was always really rewarding for me. Yeah. Knowing I got to play a tiny little part in that.

Shea:

Yeah, I got one of those folks on our team here. So yeah, he did. He learned everything knew from you. That's right. I don't know.

Carrie:

So, Tanner, tell us what great teamwork looks like to you.

Tanner Spencer:

That's a good question. I think that great teamwork at its peak is when a team can perform, without saying a word. Really. I, equate it to football. I played football in high school, and quarterback calls a play. And that play call tells everybody what to do. So it's communication ahead of time. And during that play, everybody knows exactly what they're supposed to do based on their position. And I think you can apply that to any role if you, you know, set clear expectations. You know, you've already got people in place where their strengths match their role. Then when it's go time, you don't have to say a word. Everybody knows what they're supposed to do and they do it well.

Shea:

That's really good.

Carrie:

Yeah.

Shea: So now you're in business services for the credit union. So serving a lot of our business members. So what does a day look like for you over there?

Tanner Spencer:

Oh, gosh. Really? There's no day is the same. We, you know, we do anything from, open new business accounts to servicing existing business accounts. You know, we take in loan applications, we underwrite those loan applications, we process and fund those loans and even, you know, some project management. We have a new, had a new technology upgrade recently. We got a new account opening software recently. So being hands on in that, I really get to be kind of a Swiss Army knife sort of role, and get to touch all of that, which is a lot of fun. No day is the same.

Shea:

Yeah.

Carrie:

We know exactly what that feels like. I like the analogy of a Swiss Army knife.

Tanner Spencer:

Yeah, it's a lot of fun.

Carrie:

All right, so tell us what kind of businesses leader serves.

Tanner Spencer:

Yeah. Really a wide variety. Anything from your small, you know, kind of side gigs that, you do on the weekend to make a little extra money… Up to your, you know, well-established local businesses that you're familiar with that you probably frequent. So wide variety.

Shea:

So in your role, what are some of the common problems you see some of our business members face and what do you all do about that?

Tanner Spencer:

Yeah. We that's a tough question because, you know, behind every business is at least one person. And often times there's more than one person. And we all know that individual people are different. And that means that their businesses are different. And that means that their problems are different. Which also means their solutions are different. Right.

Carrie:

That’s right.

Tanner Spencer:

So we really just try to try to listen and understand exactly what the problem is and try to understand how your business operates and then form a solution that that fits that. So there's you know, we have our “my debit card doesn't work” type questions that come in. That's a that's an easy fix. That's something that we do every day. But when you talk about a, you know, common problems, I wouldn't say there are any. I think every problem that comes in is unique because our businesses are unique.

Shea:

Maybe not a problem. Just, you know, what they're wanting to do or how they're wanting to expand.

Tanner Spencer:

That's right.

Shea:

Or different things in their business goals. So you're just trying to provide a tailored solution to what their needs are.

Tanner Spencer:

That's the goal.

Carrie:

Yeah. So it sounds a little bit like Leaders Business Services acts as a concierge service. Would you say that's accurate?

Tanner Spencer:

I would agree with that. Yeah. We try to take that advisory role and really again tailor our solutions to what that or how that business functions. And sometimes that even means a good referral to a third party for a service that we don't offer internally. And, you know, at the end of the day, it comes down to… we want we want what's best for our members. And that's no different in business services.

Carrie:

That's right. And we meet people where they're at.

Tanner Spencer:

That's exactly right.

Carrie:

Yeah.

Shea:

So you may meet a lot of people when they're just starting out. So do you see a lot of new businesses just starting out? And what does a typical new business need to get started? I mean, they've got to establish banking and things like that. So what does that look like?

Tanner Spencer:

Again, it kind of depends. We certainly do see a lot of new businesses that existing personal members have started, which is awesome that they, you know, they trust us with their business, but we see referrals from, from branches when they recognize opportunity to, to get additional business. As far as what's needed to start a business account. It's a… for example, you've got sole proprietorships, you've got LLCs which can be single member or multi-member LLCs. You've got corporations you've got which could be nonprofit and you've got nonprofit organizations. You've got partnerships which have several different layers of what they could be. You've got associations, you've got organizations. So you've got all kinds of different options as to what this particular business could be. And that determines, you know, what documents or deposit requirements there could be. So my best answer to that would be to give us a call. Talk to us. We'll learn about you and learn about your business. And then let you know exactly what you need to get started with us.

Carrie:

And if they want to come see you, do they need to make an appointment beforehand or can they just walk in?

Tanner Spencer:

We like an appointment. We have a relatively small team. So we like to know you're coming like to have a conversation ahead of time so that you're well prepared for your visit. It's not required. You're welcome to walk in, but to get the most out of a meeting with us, I would say call us first.

Carrie:

Yeah. That's great.

Shea:

And for people to contact you or our listeners or maybe even potential members, you can visit leaderscu.com/business that brings up our business services accounts, y'all's contact information for the team. Make an appointment online like you said. So we love everybody to check that out. Leaderscu.com/business.

Tanner Spencer:

Absolutely.

Carrie:

All right. Okay. So they've made their appointment. All the things. Now we're going to shift gears a little bit because we are a financial podcast. So tell us what your best piece of financial advice that you've ever been given?

Tanner Spencer:

Okay. The one that comes to mind is actually it was a status message of an employee that still works here on an old instant messaging platform. Y'all both might know… it’s Big Ant. Yeah. It was... I won't name the employee, but his status message was a Benjamin Franklin quote. It was “be aware of little expenses. Small leaks can sink the ship.”

Carrie:

Yeah. That’s great.

Tanner Spencer:

And that stuck with me. You know, I was fresh out of college, and that was one of the first things I saw when I kind of got into my role. And that stuck with me just knowing that that $5 coffee stop every morning, that adds up. It doesn't feel like it in the moment. But when you when you look back on it and you go, wow, I spent $300.

Carrie:

Yeah. I know. That's great advice.

Shea:

So if you had that extra $5, you know, if you had some change in your pocket, what would you spend it on? Or is that when you would go get the coffee.

Shea:

For me it would be...

Tanner Spencer:

Yeah, because I haven't… I've deprived myself of the coffee run and probably use it to go buy coffee. Yeah. No, I think that answer for me would have been a lot different 2 or 3 years ago. Today I would, I would I wouldn't spend that money. I would, I would put it in an account for, for our daughter and save it. I know we've got lots of great savings accounts.

Shea:

Save for the future leaders.

Carrie:

That’s right!

Tanner Spencer:

So that's right… that’s what I would do.

Carrie:

I think that's great advice, especially with a baby and young parents and go ahead and start saving for her now. So she'll have that when she gets older.

Tanner Spencer:

That's right.

Carrie:

All right. Well thanks, Tanner, for joining us today and telling us all about business services and how you got here at Leaders. We're thankful that you work here and to have you on the podcast.

Tanner Spencer:

Yeah. Thank you all for having me!