Know your mission and deliver on it
While serving as chairman of the Southeast Wisconsin Professional Baseball Park District Board from 1995 to 2014, Robert Trunzo understood the organization’s core mission: Get Milwaukee’s Miller Park built.
Despite some setbacks, including the tragic “Big Blue” crane collapse, he delivered on that mission.
Identifying an organization’s mission — and staying on point to accomplish it — has been the modus operandi of Trunzo’s executive career, going back to when he served as secretary of commerce for former Wisconsin Gov. Tommy Thompson.
In his latest venture, Trunzo became the eighth president and chief executive officer of CUNA Mutual Group in 2014.
Madison-based CUNA Mutual was founded more than 80 years ago by credit union leaders who were looking for an insurance and investment partner. For generations, the company has provided insurance and investment products and resources for credit unions to help their members achieve financial security.
“CUNA Mutual Group was born from the credit union movement, so we have built a different point of view on what it means to serve our customers,” Trunzo said. “The credit union movement was an innovative idea in its own right; a concept that was radically different than what existed at the time — financial services that are not for profit, but for service. The idea is that it placed people at the core. Today, this purpose drives who we are, what we do and why we do it.”
On the front lines with consumers, Trunzo sees the uneven edges of the ongoing economic recovery. He sees too many people still living paycheck to paycheck.
“Where I sit working with credit unions, we see millions of Americans who are still struggling. They haven’t seen the effects of a strong economy,” Trunzo said.
“Financial security for consumers is something we take to heart. I talk to employees every day — we collectively want to make a difference in what we do to help consumers. We challenge ourselves to explore, create and deliver innovative ideas, make bolder investments and try new things, all to help credit unions thrive and serve their members,” Trunzo said.
Trunzo said CUNA Mutual Group’s mission is “doing well by doing good.”
But knowing that mission is useless if service is not delivered. In this week’s C-Level listicle, Trunzo shares his keys for fulfilling an organization’s mission.
1. Focus on serving customers on their terms. “We know customers’ expectations have changed because they
expect the same experience in financial services as they get from Amazon, Apple and Uber, to name a few. These expectations affect our decision-making and the way we operate. Late last year, we completely changed our operating model within the company. We set up experience centers focused solely on the customer, and they are charged with taking our company to the next level by creating big ideas to serve our customers in new ways,” Trunzo said.
2. Stay relevant. Don’t get caught flat-footed. “The financial services and insurance industries continue to experience exponential disruption, thousands of startups working to chip away at the value chain of traditional financial services companies. We established CMFG Ventures to actively explore, invest and be part of the startup landscape. We have invested more than $60 million to
date in 12 companies, started two companies of our own and established our own innovation lab,” Trunzo said.
3. Fail fast. Then try again. “While innovation is a strong focus for the company, we also need to create an environment that encapsulates this mind-set. The first step is being OK that every idea isn’t a winner, and many will fail. But we have put resources and processes in place to build the entrepreneurial spirit to explore, test and, yes, fail quickly. We now celebrate failing fast as a learning opportunity and use those lessons to drive future ideas,” Trunzo said.
4. Build an authentic culture. “We continue to invest in diversity, equity and inclusion at CUNA Mutual Group. It is important to evolve how we do business, and it starts with how we help our employees grow and engage with each other at work. Everyone should be able to be their true self at work. Diversity, equity and inclusion are more than programs or initiatives; they are values within our company,” Trunzo said.
5. Give back. “Giving back is at our company’s heart and soul. Earlier this year, we contributed an additional $20 million to our foundation to create a sustainable funding source for many years to come. We want to make a real difference and help close the gap on economic and educational disparities in our communities.”
Steve Jagler is the business editor of the Milwaukee Journal Sentinel. C-Level stands for high-ranking executives, typically those with “chief” in their titles. Send C-Level column ideas to him at steve.jagler@journalsentinel.com.