Report
157
Number
Jun 24 2008

Building a Culture of Credit Union Excellence

As the financial services industry becomes more complex, more competitive, and more crowded, engaged employees are a critical ingredient contributing to credit union success. Filene held a colloquium at Loyola University in Chicago to examine the roles that compensation, human resource management, and organizational development play in a credit union’s ability to create a culture of excellence that engages in exceeding members’ expectations.

Building a Culture of Credit Union Excellence, features presentations by noted human resources theorists, including Paul Davis, president of the Scanlon Leadership Network. The Scanlon Plan aims to:

  • Include the worker in on the adventure, the decisions and the profits of increased production.
  • Help management tap the ingenuity of employees as a means of improving production.

The report also features the work of Dow Scott, professor of human resources at Loyola and president of Performance Development International, Inc.. Scott makes the case that, based on Scanlon methodology, an organization must meet the needs of three primary stakeholder groups. Scott also describes the relationship between a culture of excellence and a culture of innovation.

Additionally, Chuck Cockburn, CEO of Watermark Credit Union, presents a case study of Watermark’s initiation of the Scanlon process.

Report Number 157