Maritimes Credit Union
(7 pages of text)
Case (Gen Exp)
In 2015, the general manager of Maritimes Credit Union based in Atlantic Canada was faced with a merger proposal that involved amalgamation with another, much larger credit union. The major concern was how co-operatives and credit unions could compete while retaining the values and mission that were at the core of their foundation. The credit union was dealing with the issue of competing in a modern world where technology was changing at a rapid pace, where the value demanded by younger customers had evolved, and where the competitive landscape was more intense, even in rural areas. The values and culture of a credit union were called into question as it coped by developing strategies that resembled those of investor-owned firms.
The case is suitable for use at the undergraduate level in an advanced management, strategy, and governance course as well as any class that deals directly with member-owned firms. It can also be used in graduate-level courses in management and governance and in courses designed specifically for examining co-operatives. After completion of the case, students will be able to
- appreciate a real-life situation experienced by a credit union and the challenges associated with running a successful credit union in today's world;
- understand the importance of values and culture in member-owned firms, including specific elements of how these values and culture impact decision-making; and
- identify the challenges associated with running a successful credit union.
Finance and Insurance
Canada, Small, 2015
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