Executive Summary
The purpose of the research reported here is to learn how credit unions who wish to retain their identity can remain viable through shared management. We identified four successful models of organizations that provide shared management services. These models were explored and discussed in detail at a colloquiums.
What is the Research About?
The four models are as followed:
- A family run business (the Seattle Credit Union Center)operating since 1959 and wholly owned by the family.
- A corporation wholly owned by the credit unions it manages. This business, the Green Bay Credit Union Center, manages five credit unions with a total of about $30 million in assets.
- A business, wholly owned by one person, with three full time and two part-time employees. This business is the Service Center for Credit Unions, in Philadelphia.
- The fourth example is State Employees Credit Union of NorthCarolina, a large credit union that provides complete management services to one credit union; nearly-complete management services to a second credit union; and partial, but very substantial, services to a third.
What Are the Credit Union Implications?
This report provides guidance for entrepreneurial individuals or organizations who may wish to replicate or modify one of these models, in order to provide management services to credit unions that want to retain their identity rather than merge out of existence.