Jeanne D’Arc Credit Union is the third oldest credit union in the United States, and second oldest in Massachusetts. Opening their doors in 1912, the credit union offered financial services to immigrants working in the textile Mills in Lowell, Massachusetts. Over the years the company has grown exponentially, but has remained truthful to its original mission; “Helping members make smart financial choices”. This mission has been carried out via methods that are tried and true. Examples include, offering specialty products, free workshops, and seminars to assist members in achieving financial independence (About Us, n.d.).
While the credit union has perfected catering to their consumers, the area of business services presents a large opportunity …show more content…
Principles of lean management are utilized frequently throughout the credit union. At the beginning of each fiscal year the executive team sits with the credit union’s department heads to determine areas that need improvement and/ or will add value. These ideas are pitched by the department heads who utilize the principles of lean management when presenting their proposals. In the proposals to the executive team the department heads discuss how their ideas add value for our members and/or the credit union. They also discuss the resources needed and identify the timeline in which the enhancements/changes will be implemented. These proposals are then voted on by the executive team by evaluating the level of impact to our member base, effect on asset growth, and the amount of resources needed to successfully execute these proposals. Once the projects have been formally introduced, project teams are created by the department head that is responsible for overseeing the project. The project lead is responsible for the overall supervision of the project. This includes working with the team to set a realistic timeline and working to avoid bottlenecks. Depending on the level of impact the project has on internal resources it could be considered an Organizational Project (utilizing more than 15% of the project’s resources outside of one department), or a Department …show more content…
As previously stated, there are two other major organizational projects being worked on simultaneously using many of the same resources. Combined with summer vacation requests, scheduling large meetings proved to be very challenging and were ineffective in adding to production value. The project was broken down into three sub-groups; Checking Account Development, Visa Development, and Marketing, Training, and Employee Development. These groups were made by looking at the strengths that all of the team members possessed and delegating tasks within those boundaries. The project leaders understood that with the scheduling and staffing constraints that were present the team’s time was valuable and needed to be respected. Team members provided updates to the project managers via email. They were then updated as to the total project standings via email, and given the option to attend an in person meeting if they felt their presence was needed. This strategy proved to be very effective as it allowed team members to work at their own pace within the given limits and made them feel valued as their time was being respected by the team
While the credit union has perfected catering to their consumers, the area of business services presents a large opportunity …show more content…
Principles of lean management are utilized frequently throughout the credit union. At the beginning of each fiscal year the executive team sits with the credit union’s department heads to determine areas that need improvement and/ or will add value. These ideas are pitched by the department heads who utilize the principles of lean management when presenting their proposals. In the proposals to the executive team the department heads discuss how their ideas add value for our members and/or the credit union. They also discuss the resources needed and identify the timeline in which the enhancements/changes will be implemented. These proposals are then voted on by the executive team by evaluating the level of impact to our member base, effect on asset growth, and the amount of resources needed to successfully execute these proposals. Once the projects have been formally introduced, project teams are created by the department head that is responsible for overseeing the project. The project lead is responsible for the overall supervision of the project. This includes working with the team to set a realistic timeline and working to avoid bottlenecks. Depending on the level of impact the project has on internal resources it could be considered an Organizational Project (utilizing more than 15% of the project’s resources outside of one department), or a Department …show more content…
As previously stated, there are two other major organizational projects being worked on simultaneously using many of the same resources. Combined with summer vacation requests, scheduling large meetings proved to be very challenging and were ineffective in adding to production value. The project was broken down into three sub-groups; Checking Account Development, Visa Development, and Marketing, Training, and Employee Development. These groups were made by looking at the strengths that all of the team members possessed and delegating tasks within those boundaries. The project leaders understood that with the scheduling and staffing constraints that were present the team’s time was valuable and needed to be respected. Team members provided updates to the project managers via email. They were then updated as to the total project standings via email, and given the option to attend an in person meeting if they felt their presence was needed. This strategy proved to be very effective as it allowed team members to work at their own pace within the given limits and made them feel valued as their time was being respected by the team