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B.F. Goodrich Federal's Betty Phillips started in 1958 as a teller and progressed as services to customers grew
By Marilyn Miller
Beacon Journal business writer
Published on Wednesday, Mar 12, 2008
When Betty Phillips applied for a job at B.F. Goodrich 50 years ago, they weren't hiring that day. She thought she could get a job because her brother worked there.
When she asked if there were any other jobs available, she was told there might be an opening in the credit union.
''I didn't even know what a credit union was,'' she said. ''It was a well-kept secret.''
Phillips, then 27, was hired as a teller, becoming one of two employees in 1958.
Phillips caught on fast and literally worked her way to the top.
For 40 years, she has been the president and chief executive of B.F. Goodrich Federal Credit Union, now overseeing more than 50 employees.
She has seen the credit union grow from 3,652 members and $900,000 in assets to 21,000 members and $170 million in assets. It is now one of Ohio's largest credit unions.
She has seen different services increase with credit and debit cards, mortgage loans, IRAs and money market accounts.
Phillips, of New Franklin, also adapted to the wave of the future — computers. ''I used to take stacks of papers home to work on the budget and spread the papers all over the kitchen table. Then I discovered Excel. Now I use the computer for budgets,'' she said.
She has seen the credit union go through 14 mergers with smaller institutions.
Phillips has a corner office on the second floor in the building that has been home to the main office in Akron on South Main Street since March of 1990. It is a building she helped design.
She also helped design the new Hudson branch, which opened in January. ''I worked with the architect. You will see a lot of space and not a lot of walls,'' she said.
Another location, which was a former bank, is in Twinsburg.
Phillips doesn't miss a chance to promote the credit union, saying the nonprofit financial institution is about ''people helping people.''
''You're not a number at the credit union, you are a member,'' she said. ''Membership service is to help people improve the quality of their life.''
She recalled another time she preached the benefits of the credit union and got in trouble for it. About six months after she started as a teller, a member was drilling her about what services were available.
''I was glad to answer his questions, but I told him he sure didn't know much about his own credit union.'' For that she was reprimanded — the member went straight to the board to complain.
It only inspired her to want to tell the credit union story and explain to others why they should join. She pushed for a marketing department and helped launch it.
She held several positions on her way to the top, including office manager and jobs in accounting and the loan department.
Credit associations provided her with additional schooling.
She already had some on-the-job training working at one of the largest car dealerships in Ohio, the former Folk Chevrolet on West Market Street. There she was a telephone operator and title clerk, learned how to take repair orders and did some bookkeeping. Hired right out of high school, she also took a couple of classes at the University of Akron.
Phillips left Folk Chevrolet to become a stay-at-home mom, but after her daughter turned 3, she decided to go back to work.
''My husband (now deceased) didn't have a problem with it,'' she said. ''I wanted to go back to work and it was at a time when women were going to work.''
She wasn't afraid to give things a try.
When the manager of the credit union, James Blue, announced his retirement, she applied for the top job in a male-dominated field.
The board advertised for the job and held a statewide search.
''There were a lot of applications throughout Ohio, but I was at the right place at the right time,'' Phillips said. ''I had an edge over the competition, because all they had to offer was only on paper, they had nothing to demonstrate. I had made my mark and showed what I could do. They knew what they were getting.''
She said the position has had many titles; manager, general manager and now CEO and president. As CEO, Phillips said she always believed in an open-door policy. ''I wanted employees to know what was going on — good, bad or indifferent. I'd tell them I was always available to listen. I wanted everybody to enjoy working at the credit union, you can't provide service if you're not happy with what you're doing.''
Now, after 50 years at age 76, Phillips has decided to retire at the end of the month. ''I wouldn't have stayed this long if I hadn't enjoyed what I do,'' she said.
She will continue her volunteer work with the Bridgestone Invitational golf tournament and as treasurer of the Summit County Sports Hall of Fame and will volunteer in the schools.
There will also be more time for travel. ''I love Cape Cod and go up there three or four times a year. I love to ski and play golf. I only do cross-country skiing now, no downhill slopes, that's a little risky,'' she said.
She loves to knit, and disputes fellow workers who catch her in the act and tell her it's an old lady's hobby. ''Knitting is popular again; besides I was knitting when I was young,'' she said.
Her last official duty as CEO is to preside over the credit union's annual meeting tonight.
She will discuss the budget and hand out five service awards, two for 20 years and three for 30.
In a small business where everyone knows each other's names, Phillips was one up. ''I hired all five of them.''
Marilyn Miller can be reached at 330-996-3098 or 800-777-7232 or mmiller@thebeaconjournal.com.
When Betty Phillips applied for a job at B.F. Goodrich 50 years ago, they weren't hiring that day. She thought she could get a job because her brother worked there.
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