Advia Credit Union: A Case Study

Organizational success is dependent on several interior and exterior factors. While exterior factors are important, the internal workings of an organization are vital. Specifically, empowered employees and effective communication contribute indefinitely to accomplishing common goals within the company. The foundation of successful high performing teams is through effective leadership. Without effective leadership, company morale and productivity can decline causing, the company to fall into a downward spiral. Therefore, to pursue and maintain a career as a leader in financial management, I will need to empower employees and effectively communicate the goals of the organization.

The credit union offers many opportunities for its members. No union is quite the same. Every company has many similarities. Members of the union are given advantages that may not be available to others. There are many advantages and disadvantages to being part of a union. What is the America First Credit Union? It is a credit union associated with the Salt Lake County, Utah area. Members of this union must live within a twelve mile radius of the Mesquite Nevada post office. This company provides service to these residents only. The eligibility to become a member is stricter than most companies. A member of your immediate family must have a membership with the America first credit union. The other eligibility requirement is if your

In order for the corporate lending unit to meet the goal of cutting 15 percent of the operating cost, a redesign team comprised of volunteers from the different departments of the unit. The purpose of this redesign team was to develop a design for the account management team that will streamline the departments function when it comes to serving its customers. This design will allow more resources to be readily available to customers through the Internet. Also, this team will be addressing reorganizing and designing new roles for the AMs to work more efficiently when it comes to addressing the needs of the customers. The development of this team is considered more of transformational leadership, where the GM pushed the senior management team to encourage their employees to volunteer and have a say in the mission to meet the goals of the unit.

We appreciate your thoughtful message requesting that Fox Federal Credit Union create a program to reimburse the costs of college expenses such as tuition and books for employees taking college courses.

First South Credit Union is the business that I chose to perform a risk identification analysis on. First South Financial Credit Union serves the entire Mid South community. In order to be eligible for membership you must live, work, worship or attend school in any of the following areas, Memphis Metropolitan Statistical Area (MSA), Dyer County, Madison County, and North Nashville. First South Financial was founded in 1957. It was originally established to serve the personnel on the Naval base in Millington, they have grown into one of the strongest and safest financial institutions in the entire nation, according to all independent rating agencies. They have locations throughout the Mid South along with a full suite of electronic products

Kiting could involve collusion between account holders at different financial institutions. An example is a husband and wife who have checking accounts at different institutions (e.g., a credit union and a bank). While the accounts at both institutions may be titled in both names, the checks on one account might only contain the husband’s name and the checks on the other account might only contain the wife’s name. Tellers should be aware of this when evaluating kiting symptoms.

While Golden 1 Credit Union is having $10.2 Billion in assets and 791,570 members in its reach, chief marketing officer Douglas Aguiar views social media as a means to carry the Golden 1 brand personality and to know the mind-set of the members and community.

There are more than 11,000 employees employed at the Navy Federal Credit Union. There are 250 branches around the world. A good majority of the employees work in a traditional working environment. A survey on the Navy Federal Credit Union was conducted and showed that 94 percent of the employees think that they have a great boss. Within that category 74 percent of the employees said “managers often or almost always act with integrity and care, are competent in their positions and provide clear directions and vision for the organization. Another 15 percent say their managers sometimes display these characteristics” (http://reviews.greatplacetowork.com/navy-federal-credit-union). Overall the employees feel that their jobs are secure, the

he Gramm-Leach-Bliley Act, which is implemented by Regulation P, requires credit unions to provide their members with initial and annual privacy notices that inform members about the sharing of nonpublic personal information with third parties. The notices required by Regulation P must be clear and conspicuous, and disclose, in detail, the institution 's privacy policies. In addition to the annual privacy notice, credit unions are also required to inform members of their right to opt-out of the sharing of nonpublic personal information with certain types of third parties.

Through a statistical analysis of 100 United States credit unions, they tend to spend over $400 million in total online marketing. The average spending for credit union members is between $8 and $16 per member of marketing, with the spending median at $12.52. Melrose Credit Union spends the most per member at $236.51, with 24,448 members and $5.8 million marketing budget. The Navy Credit Union, in 2014, was projected to have the highest marketing budget of the total credit union at $62,633,808 and marketing 0.10% of its $60.49 billions in assets.

Synovus Financial Corporation utilizes a value based leadership style in which they use to shape the organization’s relationship to its customers and the community. The corporation held top rankings as one of the best company to work for, the best bank in the south for its profitability and returns, outstanding performance, on the S&P 500, and for its top money managers with pensions and investments (Hess & Cameron, 2006). The most important concept at Synovus centers around the values that focus on people, culture, service, integrity, and character.

While going through the list of Fortune 100 companies, the Navy Federal Credit Union stood out to me as a company that I would like to work for in the future. By reviewing the company’s outlook it shows that they only have a 7% turnover rate and continue to hire year after year. The company has been very successful and has made the fortune 100 for the past 5 years. What are they doing to keep their employees happy and motivated? Will they be able to keep their success growing?

Upon reading your post of this week’s discussion on the negative outcomes at Affinity Credit Union, I also pointed out two of the three of your selected outcomes. The one which I didn’t address was the training and that was due to lack of information within the case study, reference the timing incoming calls and the offering of better lending rates. I agree if there would have been clear policy guidelines all customers would get an approval of a lending rate based on a set guideline instead of employees being empower to make fluctuating lending rates. By empowering employees to make decisions on establishing a loan rate for members could possibly create even more negative outcomes for the credit union due to some members receiving better rates

In the same time, Wells Fargo recruited talented people into the company without any specific job, because the CEO believed that these smart people could help company to face and deal with the future changes and difficulties (Collins, 2001, p.42). Well Fargo is easy to adapt to a changing world when banking deregulation arrived. Moreover, Wells Fargo went three times higher than general stock market which the banking fell 59 percent behind. CEO of Wells Fargo, Dick Cooley a level 5 leader, understand three simple truths. First, if you begin with "who," rather than "what," you can more easily adapt to a changing world. Second, if you have the right people on the bus, there are no problem to motivate and manage people goes. Right people are self-motivated by the inner drive to produce the best results, and right people don't need to be tightly managed, they know what they should or should not do. Third, if you have the wrong people on the bus, you won't get to the place where you want to go, whatever how hard to motivate and manage them. Right people are the most important asset in the company. Right people can turn a nearly bankruptcy company to Fortune 500 company.

For decade’s individuals, companies, and organizations have spent an unprecedented amount of money on researching, molding, modeling and working to define what a leader is and what characteristics make successful leaders. Despite all the research, there is not a quick answer or even full agreement as to what makes an individual an effective leader. The definition of a leader is “someone who can influence others and who has managerial authority.” (Robbins, Decenzo, Coulter, 2015. P.370)