11 minute read
INFLUENTIAL WOMAN
SUMMIT FEDERAL CREDIT UNION’S LAURIE BAKER
PHOTOS BY JENNY BERLINER
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Tell our audience a little about
Laurie Baker and your background. I grew up on Long Island. My exposure to Rochester occurred when I enrolled in college at the State University of New York at Geneseo. I spent four years there and graduated with a degree in Sociology. After graduation, I eventually wound up migrating back to Rochester where I was able to spend more time with my sister, who was also a Geneseo graduate. Soon after, I met my husband of 27 years, Jerry. We have two children – 22 and 17. I now consider Rochester one of my “homes,” along with Long Island. How great to have two places that you consider home and where you have strong connections!
What credentials do you have that prepared you to become the CEO of one of the fastest growing credit unions in our region?
My years of diverse, up-throughthe-ranks credit union experience have certainly positioned me well for this role. Over the years, I was exposed to many facets of credit union operations and worked on multiple cross-functional teams. My tenure as Chief Operating Officer positioned me well for the CEO role. My educational background includes degrees in sociology and social science with a focus on organizational behavior. I’m pretty well-rounded and I do believe a liberal arts background can be very valuable from many perspectives, including leadership. Credit unions are people businesses. I’ve served on the Board of Directors for the New York Credit Union Association, a state-wide trade organization, and as the chair of the organization. Getting involved in the industry in many different capacities over the years has better prepared me to lead a credit union and support the credit union movement.
What was it like assuming the role of CEO during a pandemic, after being with Summit FCU for over 25 years?
When I first assumed the role, it was almost mind boggling. The pace was extraordinary, and we were entering unchartered territory. I have a fabulous executive team and we bonded very quickly. This was one of the great benefits of assuming the CEO role during that time. Everyone rose to the occasion - meeting several times per day, evenings, and weekends to make it work. I believe the credit union experienced more change in the two-year period following the start of the pandemic than it had in the last 25. Luckily, I like change!
How did you get to where you are today?
This question made me take pause for a minute. I’m going to answer with “sheer determination.” I work hard, I’m committed, I enjoy what I do. I have an ongoing desire to personally improve and evolve that originated very early in life. I’m always thinking of the next step: Where do I want to be and what do I want to do next? How will I get there? I’m a planner by nature, so I’m very deliberate in my approach. Someone once said to me, “you’re excited about life.” I think I am. There is so much that life offers – we need to take advantage of all kinds of opportunities. Life is short.
Being in the unique position of being a female leader in a male dominated industry, what advice would you give other women in this field?
There are many female CEOs leading credit unions, but typically not at larger credit unions. As the credit union grows, the number of female leaders diminishes. Approximately 13% of credit unions between $1 and $5 billion in assets have a female CEO.
My advice would be to build alliances with other credit union CEOs and other leaders outside your industry – male and female. Connections are important and they matter. There is a lot to be learned from others. Don’t let the statistics deter you. Go after what you want.
What challenges have you faced since becoming CEO and how have you pivoted?
I think one of the biggest challenges I have faced, and continue to face, is ensuring that we are communicating effectively with all of our employees as the workplace, as we know it, evolves. The pandemic has certainly accelerated some of the issues we face today. We have employees who work remotely or are on hybrid schedules. We are also still facing isolation requirements, quarantines, and school closings due
to COVID. As in many industries, adequate staffing can be a problem at times. We’ve been able to pivot, but more work is needed from a creativity standpoint. This will be a focus in 2022.
What motivates you and keeps you moving forward?
I love a challenge and I love to make a difference every day. I like helping people and I like solving problems. I’m very motivated by that. Working in a mission-based industry, like the credit union industry, compliments what drives me personally. Credit unions are member-owned financial cooperatives that exist to help others with a “peoplehelping-people” philosophy. It’s hard not to be motivated by that.
Where do you see yourself personally and professionally in the next 3-5 years? On a professional level, I see myself continuing to lead The Summit. The world is changing so rapidly. Member and customer expectation across many sectors is evolving. There is a lot to do! We will need to put on our seatbelts for this journey. My involvement in industry causes will continue to be a priority.
On a personal level, I’ll be considering new and different ways to give back to the community and volunteer my time. Yes, I really enjoy this! In addition, my daughter will be graduating from high school this year, so I’m thinking I may have more time for travel and other activities….
What do you feel makes you a successful leader and how do you coach others to empower themselves?
Leaders have to work on being successful every day because the needs are constantly changing. It’s hard work and it should be.
From a leadership perspective, I do embrace open communication. I sincerely like to hear candid opinions and thoughts. I believe it’s the only way to forge a trusting relationship between two people. I’m also very forthright. If I have something to say or share, I typically won’t hesitate to do that in the most respectful way possible.
Coaching others to empower themselves is far easier if they possess self-confidence. It’s the leader’s job to help build that confidence in others so they can grow. Allowing others to make mistakes is important. I like to be supportive, but I am not a micromanager. Micromanagement tends to stifle growth and development, and the most talented individuals will not work under those conditions.
What are some of the pros and cons of being a female leader, and what is your favorite part of what you do?
I don’t think of being a female leader in terms of pros and cons. I’d like to think I work effectively with both men and women, in many situations, and across many types of organizational roles and relationships.
My favorite part of what I do is positively affecting the lives of others each and every day – whether that be ensuring that we focus on offering our members quality products, competitive loan rates, or creative new ways to connect with us, such as our Virtual Branch. Our organizational commitment to supporting the communities we serve is very important to me. We genuinely care about people and that’s evidenced by the frequent feedback we receive from our members. Our employees truly want to help.
What role do you have within the community as far as volunteering?
I serve as a Board member for the Mary Cariola Center. I’m also a long-time supporter of Villa of Hope and serve on their Nominating Committee. Both organizations make a tremendous impact on young people and their families.
Mary Cariola serves children and young adults through academic, residential and community- outreach programs. Their commitment to working with youth with disabilities is unparalleled. The Villa of Hope partners with individuals and families struggling with chemical dependency, mental or behavioral health concerns, or recovering from trauma. The organization is dedicated to providing hope and a sense of purpose for so many who are struggling.
I also serve as a board member for the New York Credit Union Association which is committed to supporting the interests of all credit unions statewide and aims to unite the voice of the
New York Credit Union Community.
What is your approach as CEO and your mission?
I approach my role as CEO with optimism, an excitement about what lies ahead, and with determination to make The Summit a better place for our members and our employees.
Tell us about one moment in your life that has had a lasting impression on you and formed who you are today.
In 2008, I lost my sister to cancer. We were very close and we really relied on each other for friendship, support, and guidance. She was taken way too soon and her absence has left a void that is hard to describe. My message to all of you is don’t sweat the small stuff. Live your life to the fullest and don’t worry about the rest. Do what makes you happy.
Tell our audience one thing about yourself that not many others know.
My husband and I adopted both of our children from Russia. We visited Russia four times to make that a reality. What a tremendous experience on many levels – culturally and personally. I love my kids! The best decision I have ever made.
How do you balance work and life responsibilities, especially with such a demanding career?
It’s not easy. You really have to love what you do to make the necessary sacrifices. I used to think that I could easily separate my personal and professional lives. After years of juggling many balls, I no longer think that’s the case. Portions of your personal and professional life just blend together, and hopefully they blend together well - mine do. You have to enjoy a busy pace.
Who is someone that inspires you and why?
My husband’s Aunt Marge inspires me. She is 96 years old and just sold her home to move into an assisted living facility. She still enjoys gambling at the casino, loves watching the Bills, and is a pleasure to be around. She is fun to talk to and loves to eat and drink wine. I want to be like her some day!
What gives you strength, especially during such trying times in our world today?
I’m generally an optimistic person. Despite all of the divisiveness in our world right now, I do believe that the vast majority of people are good and well-intended. I try to focus on the things I can control.
What are your plans for leading Summit FCU into 2022 and beyond?
The Summit has always supported the communities that it serves in Western New York, the Finger Lakes Region, and Central New York. In 2021, we supported nearly 180 charities and community organizations through sponsorships, monetary or in-kind donations, and event participation. As we move through 2022, out of this pandemic, we plan to continue to look for ways to connect with and serve our communities, ultimately making an impact on the quality of life not just for our members, but the areas in which they live.
What was it like being one of the first to be named to the Rochester Business Journal’s Power 30 List?
It was an honor to be named to the list. There are so many talented people in our financial services community. I know and have collaborated with so many of my fellow Power-Listers personally and it’s great to have our industry celebrated in this way.
Where will we see Laurie Baker next?
You will see me getting involved in some carefully selected community organizations serving the Rochester area. Volunteering my time and giving back to the community are very important to me. The rest will be a surprise!
