Executive Summary
The topic of the 1998 Filene colloquium was "Information Technology and Management Structure." This colloquium focused on the interplay between information technology (IT) and the products offered by credit unions, back office support functions, and the structure of management. This is the first of two reports based upon the results of the colloquium.
What is this research about?
This report examines the innovative and successful policies of First Technology Credit Union in Beaverton, Oregon, with assets over $500 million. First Technology is an extreme example of a management structure that is driven by the latest developments in information technology. It is not intended that focusing on one credit union will be a guideline for other credit unions, but rather that it will provide insights and stimulate discussion of how technology can affect optimal management structures.
What are the credit union implications?
There is no more pervasive topic of conversation among credit union managers than IT. Times are changing rapidly and unpredictably. These changes impact all aspects of credit union operations — the front-office delivery of services to members, the range of products offered, the job descriptions of employees, data processing operations in the back-office, the competitive environment, and the internal structure of management.
This report is sponsored by the Center for Financial Services Studies at the McIntire School of Commerce, University of Virginia and the Center for Credit Union Research at the School of Business, University of Wisconsin-Madison.