Temecula, Calif., March 23, 2018 (Newswire.com)
Redstone Federal Credit Union (RFCU), received two high honor awards during a special awards ceremony held March 14 at the Business Transformation & Operational Excellence World Summit (BTOES18) in Orlando, FL.
Redstone Federal Credit Union took home the Best Achievement of Operational Excellence in Banking, Capital Markets & Insurance, as well as the highest honor in the award program, the Platinum Award for Best Achievement in Organizational Operational Excellence.
“You can create an amazing strategic plan,” said Joe Newberry, CEO and President of RFCU, “however, culture is the engine that drives strategic objectives and performance. It is the greatest tool for achieving organizational success—you need your people aligned and a culture that supports it to achieve results.”
You can create an amazing strategic plan, however, culture is the engine that drives strategic objectives and performance. It is the greatest tool for achieving organizational success—you need your people aligned and a culture that supports it to achieve results.”
CEO AND PRESIDENT OF REDSTONE FEDERAL CREDIT UNION
In 2014, RFCU engaged Partners In Leadership after it discovered the company’s departments, while performing to standards, operated in silos and were not aligned around results. They deployed an immersive culture transformation process structured in a five-year plan across three programs: Accountability Builder™ (taking personal accountability), Leadership Builder™ (holding others accountable), and Lead Culture™ (culture transformation). Training tackled culture from every level and included hundreds of workshops across a multitier process, beginning with leadership engagement and buy-in before cascading to supervisors and employees. The Lead Culture process starts with executive collaboration around Key Results needed by the organization. The process then creates the Cultural Beliefs that build people organizations and a Culture of Positive Accountability.
The credit union has since experienced breakthroughs in cross-collaboration and strategic alignment, surpassing its previous metrics and achieving maximum-tier goals.
· Loan Growth – 960.63%
· Employee Growth – 107.70%
· Average Annual Non-Interest Income Growth – 52.19%
· Average Annual Community Involvement Growth in Contributions – 1,567.84%
· Average Annual Cashback Rebate Growth – 6,688.79%
· Average Annual Total Member Giveback Growth – 1,218.92%*
*This number is in addition to Dividends paid on deposits and equates to 40+% of Net Income given back to RFCU members.
The Business Transformation & Operational Excellence Industry Awards recognizes globally the most outstanding organizational achievements through the application of Operational Excellence programs. The focus of the awards is to showcase to global businesses how tangible results can be achieved through successful implementation of Operational Excellence. Awards were presented to organizations in four categories for a total of 27 awards including the Platinum Awards.
“This win is an outstanding achievement for our friends at Redstone,” said Brent Barton, President and CEO of Partners In Leadership. “Their success and the impact they have in their community and in the industry as a whole is both an inspiration and additional proof that culturally-aware companies that develop an accountable workforce come out on top.”