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Being A Mission-Driven CEO Means Listening—To Everyone

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John Bissell wasn’t always a finance guy.  

When he was hired in 2003 as a vice president at Greylock Federal Credit Union, he had plenty of experience in marketing and public relations and was hired to run marketing, community outreach, and HR. But he certainly did not have the training and expertise in accounting, investments, reading balance sheets, managing P&Ls, or the many other skills necessary to lead a large, complex financial institution.

Just twelve years later, in 2015, John Bissell became CEO, and since then has helped build the institution to more than 90,000 members and more than 1.4 billion dollars in assets.

How did he do it?

Yes, Bissell took accounting courses along the way and then took the plunge and earned an MBA, all the while working full time. Still, he attributes his success ultimately to a far more fundamental trait: curiosity. 

“Always be curious,” Bissell said in a recent interview. “Ask a lot of questions. I wanted to know: ‘What is the system behind the system?’ ‘What is under the hood?’ I had to know a certain amount about how the engine runs: ‘What matters most?’ ‘If we are able to develop more auto loans,’ for example, ‘how will that help the balance sheet?’ I had a lot to learn.”

“I had the great privilege always to work with excellent teams at Greylock,” said Bissell. “I recall an individual who used to be our CFO, and it was typical that he and I would be in there on a Saturday morning. It was quiet. And I would just go down and ask questions: The ‘what’s and ‘why’s of the balance sheet and the P&L, questions about the investments. For whatever reason, I wasn't afraid to ask the dumb questions. That maybe it would embarrass somebody else to ask, but that's just my nature. And he would patiently walk me through whatever questions I had.”

This intense curiosity and willingness to ask questions comes as no surprise to those who know Bissell. He says this core trait is also essential to his skill in cultivating relationships of trust and confidence with all sorts of people. He is genuinely curious about others, their expertise, and their experiences. That has made him a better leader of the people and the enterprise, as well as a better citizen of the community served by Greylock Federal. 

“I ask questions of everyone. It doesn't matter what their title is,” Bissell says. “I get great advice from our tellers, from our loan officers, every day. Some of the deepest insights I have into how our business is really going come from those frontline folks.”

Bissell’s curiosity helps him form such authentic connections with others because he approaches every interaction as an opportunity, not just to learn, but also to empathize and tune-in.  

“You have to think about” whoever you are communicating with “at a deep level,” Bissell says. “If I'm just speaking from inside my own head, then the message will fall flat. ‘What do they care about?’ ‘What is our shared care?’”

If Bissell sounds especially warm and fuzzy for a CEO leading a billion-dollar-plus financial institution, there are two things you need to know. 

First, Bissell has always been a service-oriented, mission-driven person: “My parents always volunteered, constantly looking for ways to strengthen the community. That's the way I was raised.” Bissell is also an Eagle Scout! And Greylock serves the community in Western Massachusetts where Bissell was born and raised and where his extended family still resides.

Second, for Greylock, like all credit unions, “mission is everything,” Bissell insists, “we have to earn our non-profit designation every day.” That’s the difference between a credit union and a bank.

“Our financial system, broadly speaking, was designed to be exclusive. The reason the banking system wasn't functioning well in the 1930s was it had been designed to provide credit to people who already had money,” Bissell explained. “In our case, financial inclusion means we are a pathway for folks to fully participate in the economy, fully participate in the financial system. No matter what their income level, no matter what their credit score, we find a way to serve them.”

As of late, Bissell has been most focused on building relationships with the Black and Brown communities of his region. Following generations of mistreatment by, and mistrust of, the U.S. financial system, Bissell knows investing in these relationships is a long-term project.

“I'm gratified to say that there's a strong network of Black leaders who've trusted me, who've mentored me. And we are now in a much better place than we were,” Bissell said. “But I will never be done investing in that process with them, and earning their trust.”

Still, there are tangible successes Bissell can point to. A recent renovation in 2019 converted half of one of Greylock’s branches into a community empowerment center, where they provide financial education and coaching. The educational opportunities and associated outreach have meant that particular branch is now growing for the first time in decades.

But the business growth, for Bissell, is just extra. What matters most to him is meeting the mission, and approaching that mission with a sense of service.

“When I became CEO of this 90,000-person community credit union, what struck me was, I belong to them. I have 90,000 bosses as a not-for-profit financial cooperative,” Bissell explained. “I took a call last night from someone who's irritated about a direct-mail piece that he got. It wasn't from us, but it had our name on it. He’s calling me at 6:30 at night. I'm going to take that call.”

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