42 min

Aligning Stakeholders For A Century Of Enduring Value with Faheem Masood of ESL For the EVOLution of Business

    • Business

When ESL Federal Credit Union defined its purpose "to help the community thrive and prosper," it was putting into words what had been there from its founding in 1920.

Despite countless investments in the community as well as their recognition as a Great Place to Work for 9 of the past 10 years, CEO Faheem Masood believes they will always be evolving to better align stakeholders and more fully live that purpose: "We wouldn't be here if we didn't have a thriving community...so we are now on a journey to better understand what that means and remove some contradictions that may not be consistent...All of us will prosper if the community prospers."

As they celebrate their 100th anniversary, their long-term mindset and community focus has also led to enduring value for the company, which was able to give their member owners their largest-ever dividend, proving that in the long run, purpose and profit are mutually reinforcing!

Faheem Masood has served as President & CEO of ESL Federal Credit Union since March 2016.ESL the largest locally led financial services institution in the Greater Rochester area and with assets of $6.8 billion, ESL is one of the largest credit unions in New York State And in the top 1% of more than 7,000 federally insured credit unions in the U.S. They’ve also been nationally recognized as a Great Place to Work Best Small and Medium Workplaces 9 times since 2010.

When ESL Federal Credit Union defined its purpose "to help the community thrive and prosper," it was putting into words what had been there from its founding in 1920.

Despite countless investments in the community as well as their recognition as a Great Place to Work for 9 of the past 10 years, CEO Faheem Masood believes they will always be evolving to better align stakeholders and more fully live that purpose: "We wouldn't be here if we didn't have a thriving community...so we are now on a journey to better understand what that means and remove some contradictions that may not be consistent...All of us will prosper if the community prospers."

As they celebrate their 100th anniversary, their long-term mindset and community focus has also led to enduring value for the company, which was able to give their member owners their largest-ever dividend, proving that in the long run, purpose and profit are mutually reinforcing!

Faheem Masood has served as President & CEO of ESL Federal Credit Union since March 2016.ESL the largest locally led financial services institution in the Greater Rochester area and with assets of $6.8 billion, ESL is one of the largest credit unions in New York State And in the top 1% of more than 7,000 federally insured credit unions in the U.S. They’ve also been nationally recognized as a Great Place to Work Best Small and Medium Workplaces 9 times since 2010.

42 min

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