Kevin Miller, CEO, at $4.8 billion asset Travis Credit Union in Vacaville, Calif., shares insights into what makes a successful leader.

Q: What’s your approach to leadership?

Kevin Miller: I believe in the inverted leadership pyramid. The role of the CEO is to empower those who serve our members. Our success hinges on providing compelling value to the member segments we are trying to serve.

Each employee needs to know that they are an important part of our team, and that our successes are tied together. Greater engagement leads to greater results.

Q: What advice would you offer new or aspiring CEOs?

A: Taking on the CEO role is a great honor and responsibility. First, get a clear sense of what your career ambitions are. Second, think of your career as building a portfolio of skills—your objective is to continue to gain different experiences.

Third, I would suggest reading the book “CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest.” It does a great job talking about the six responsibilities of the role.

Fourth, while some career paths are perceived as the preferred path to become a CEO, there is no one perfect path. For example, I started my career in marketing and then took several business roles to build out my skill set.

Lastly, it is all about matching your background and skill set with the right opportunity. You can have the right background but not be the right fit for a specific CEO role, yet it could be a great fit for another role.

Q: How can credit unions use technology to create a fintech-like environment for business lending?

A: First, you need clarity. Determine the members you are serving, what service you are prioritizing, and how you can improve the member experience.

For instance, the business market poses a challenge because there is huge segmentation in the landscape. The needs of a microbusiness with fewer than 10 employees is very different than the needs of a small business versus amid-sized business.

One big opportunity for credit unions is to get really clear on what member segments or populations they are trying to serve. What are their specific needs?

Sometimes what they need isn't a product you offer today, which leads to the question, “Am I building, buying or renting?” This can be determined by the value and importance you place on speed to market and the owning of intellectual property, etc.

When it comes to new technology solutions, the financial services industry is fast-evolving. Credit unions need to continuously identify ways to remain competitive and provide members with the best possible experience.