So, I had a situation today that quite literally almost had me loose my cool. A gentleman (not really, but I’ll be nice) of a certain age came into the credit union today and wanted to discuss his finances and talk about a loan. I told him that I could help him with that and invited him into an office. He looked at me funny for a moment, but then followed me in.

As he sat down, I offered to get him some coffee or water and he seemed to brighten up when I asked. He looked at me and said, “You mean you’re just the coffee girl? Oh thank goodness, I thought you were really going to try and talk to me about my finances.”

What the hay????

So, I took a deep breath and politely explained that I was the loan officer and while I’d be happy to get him refreshments, I was also going to talk to him about his finances. He shook his head gravely and said that it simply wouldn’t do. He demanded to speak to my manager. I said I’d be happy to get her if he’d like, but that she would tell him the same things I would. He furrows his brow and says, “Her? You mean they don’t have a man in charge around here? Well, I just can’t have that. What the hell do you girls know about finances anyway?”

He gets up and leaves.

I was affronted, I won’t lie. Here we are in 2009, making history as we swear in the first African American president, and this man practically said I didn’t know a thing about finances and couldn’t possibly help him because I was a woman. I’ve been in banking going on seven years. In that time I’ve worked myself out of debt – except the student loans and a few more payments on the car, I’ve helped get others out of debt, advised people on their investments, and handled more cash than that man will ever see in his entire life! And let’s not forget that I’ve worked for large and small banks, as well as credit unions, so my industry awareness and overall knowledge of regulations is top notch.

I am recertified every year for my regulation and lending training, I constantly attend training courses I’ve already done simply to reaffirm my knowledge, and I am a voracious reader of financial news. I may not know everything under the sun, but I can tell you I’ve learned a lot in my financial career. I think I’m fairly qualified to assist someone with their finances and take loan applications.

My question is, what makes someone a good personal finance leader? I don’t believe it has anything to do with their age or gender. He didn’t comment on my age at least, but still.

In my opinion, a good personal finance leader should have the following qualities:

- Knowledge

They don’t have to know everything, but they do have to understand how it works. No one has confidence in their bankers when they don’t know what they’re doing, particularly when it comes to dealing with someone’s money. And knowing how it works doesn’t mean they have to have all the answers, either. I’m constantly explaining that to those I’ve helped train over the years. It’s better to tell someone you don’t know the answer to their question than to lie and make something up. There’s a professional way to handle it, though. The key to not knowing something is saying you don’t know, but you can find out, and then following up.

- Sincerity

Banking isn’t my life long passion, I’ll be the first to admit it. However, that doesn’t mean I want to trample over other people, or only do my job to half of my ability. People depend on me to be there for them when they need help. I’m not just there for the paycheck, they know I’m genuinely there to help them in any way I can. I may not be able to help them, but they know that I gave it my best effort and that I was sincerely looking out for their best interests.

- Member/Client Advocacy

As an employee, we have a bottom line to look after for the company that we work for. Obviously we can’t give the cow away for free, but at the same time, without our customers we wouldn’t have jobs. Our job as bankers is to make sure we’re taking care of those who are trusting us to do so. We are supposed to take care of their money and their needs. If we can offer them a product that can save them money or earn them more money, then we offer it. But, this is why I left the bigger banks. I felt all their product pushing was getting away from what was really important, which is doing what’s right for the customer.

- Honesty/Ethics

This goes without saying, but anytime you deal with the public – or anyone, for that matter – you should always be honest and ethical in your dealings. It’s just a sign of good character. I have a conscience. I could not knowingly swindle a customer and feel good about myself. I left one bank because the manager was lying to people about running loan applications. He told them we’d get them pre-approved and people left thinking that’s all that was going on, when in reality he was running applications and pulling credit reports in order to meet his numbers. That’s unethical. I won’t stand for it, so I turned him in and then left.

- A Firm Hand/Teacher

Sometimes clients need to be told the hard truth. There’s no need to be condescending or ugly about it, but as bankers we sometimes have to tell people the reason they’re not approved for a loan is because they haven’t repaid their previous creditors. Or when they get an overdraft fee it’s because they’ve spent more money then they actually have. These aren’t fun conversations, but you can’t mollycoddle people all the time. They’ll never learn. As part of our job is to teach people about their finances and how their choices affect their future ability to borrow, we have to be firm in what we tell them and what they need to do.

- Compassionate/Empathetic

We also have to understand that everyone comes from different walks of life. Like I talked about in the 7 Habits series, we must seek first to understand and then to be understood. Not everyone is out to take advantage of the system, some people genuinely don’t have a clue when it comes to their accounts and finances. We have to put ourselves in their shoes and find a way to help them in a way that works for them. We have to leave our frame of reference out of it entirely. It’s not always easy. I find myself forgetting to explain things to people because it’s a no-brainer for me. But I’ve been doing this for seven years. My member hasn’t and I have to remember that.

I’m sure there are a dozen or so qualities that a leader of personal finance should have and I’ve only scratched the surface. But, my point is that none of those qualities have anything to do with my gender. And my gender shouldn’t have anything to do with my ability to complete my job. I’d like to invite those who believe that gender has anything to do with one’s ability to advise others on their finances to the 21st century!

What are your thoughts? Do you think I’m overreacting a little? What sort of qualities do you look for in someone advising you on your finances?

Photo by Ronn Ashore

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1. Personal Finance Is Not A Race
2. Carnival of Personal Finance
3. Teaching Personal Finance
4. Carnival of Personal Finance – Financial Armageddon Edition!
5. When Did Personal Responsibility Become A Lost Art?