Recent Filene Report Details How Culture Affects Performance

“Name the metric and culture has influenced it.”

Parnering with Harvard Business School professor Dennis Campbell, Filene Research Institute recently released a report looking into that very statement: how culture affects peformance of credit unions. The report covers performance metrics like ROI, net income, sales growth and cash flow.

This research from Filene’s Center for Organizational Entrepreneurship demonstrates that regardless of their operating principles, credit unions can foster a high-performance culture by strengthening their core values, accountability systems, boundaries, and employee selection.

The report also includes a case study on Svenska Handelsbanken, a Swedish bank whose banking model focuses on holistic, branch-centric service delivery. From a high-level overview, the report indicated that “strong cultures are those that are well defined and marked by positive behaviors,” something credit unions exemplify in their work.

“I think the Pacific Northwest is a great example of a place where credit union core values resonate,” Ben Rogers, Managing Director, Research, for Filene told Anthem. “It’s a lot easier to build an organization when you can find so many people who buy in. Leaders still have to do the hard work of correct employee selection and boundary setting, but in Oregon and Washington it’s like having a head start.”

A research brief and a short video highlighting the findings can be accessed at filene.org. Filene members may download the full report after log-in.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.

Posted in NWCUA.