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The financial marketplace is dominated by a small number of mega-banks. These banks have a reputation of impersonal service and of being focused solely on their bottom-line. Credit unions have emerged as a smaller, more flexible alternative.
Build a functional team derived from disparate
CLIENT PROFILE The client is the result of successive mergers over two years of three independent credit unions. The final merger with the third credit union was completed before the initial merger had stabilized into a single cohesive organization. There was no time for effective staff integration; the organization remained polarized in three distinct groups.
All three credit unions had within the last 20 years recovered from near bankruptcy and were now successful financial institutions. Between them there were significant differences; three unique business drivers, three operational styles, and three different organizational cultures. A full assessment and analysis of the human resource capital comprising the new organization was critical, followed by the development of a new corporate culture.
SOLUTION Results Performance Management was asked as part of a larger consortium, to provide coaching of the executive staff.
The goal of the coaching was twofold:
Several intense team-building and coaching sessions were required to reconcile underlying cultural differences, before the team was able to move to the next phase of defining the new organization. The senior staff determined that they could not be competitive with large financial institutions on products or pricing. Their key competitive advantage was excellent customer service. The new organization's focus would be delivering an unrivaled customer experience. They then proceeded to define how the organization would react both from a process standpoint and also interpersonally, which would support that vision from a customer standpoint.
THE RESULT The organization is currently communicating their focus and driving their new corporate culture down into the organization with visible results. Furthermore, they are also in the process of effectively defining a new business model to support this direction.
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