...Case 2: Ethics To adjust or Not to Adjust: The case of BNB Credit Union ACCT 315-01 September 5 2013 Personal Ethical Code What do you consider to be right and wrong? I am a Buddhist. What I believe to be right is to follow five precepts of Buddha: abstaining from harming living beings, stealing, sexual misconduct, lying, and intoxication. In addition, I will follow rules and regulations made by specified society or countries or organizations. On the other hand, not following the conducts mentioning above will result in wrong doings for me. What is your priority in life? My priority in life is to stay alive with good health and to obtain a regular and sufficient income. My top priority is to make my family, as well as the people around me happy by providing love, support, financial security, care and protection. How far are you willing to go to make money? I do not have specific limits when it comes to money, but I need a sufficient income to afford a normal, comfortable life. Truthfully, I want as much money as I could get, but it must be from honest and legal business practice. Honestly, since my country, Myanmar, is a developing country, I would like to make enough to contribute to my society. How do you wish to treat others? I will treat people in a nice and friendly manner, even if they are not treating me nicely during our first meeting. However, the next time we meet, I will be careful with people who were not nice to me because they could possibly...
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...DIGIFAST MEMORANDUM TO: Dave Martinez, Graphic Designer FROM: Nicole Bree, Designer NB DATE: 9/19/08 SUBJECT: First Technology Credit Union/ New Service First Technology Credit Union has recently expanded and is looking for a new location to call home. First Technology Credit Union is a financial institution that offers a service that would be beneficial to DigiFast in addition to other companies located here in the River View Plaza. They are also one of the few Credit Unions that hold free monthly educational seminars for the community and they have a large marketing base. Partnering with and having First Technology Credit Union in our building would give DigiFast exposure to a diverse group of people that would not otherwise be reached within the capacity of our business, and in time prove to be a valuable asset. Some immediate benefits to a partnering relationship are: • Customers and families waiting in line would be able to try our new video games and other products that we offer; doing this also helps distract them from their long wait in line. Staff would have the opportunity to mingle with customers and share company information. • Interfacing with the credit union during their monthly seminars DigiFast will promote products through demonstrations and offer free door prizes; in return acquire customer contact information. • The monthly seminars will allow DigiFast to present new products and give technical assistance to existing customers...
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...UNIQUE BANKING MODEL UNIQUE BANKING MODEL LOGO PUNCHLINE FEATURES SERVICES FOR YOUTH MINIMUM CAPITALREQUIREMENT LOGO PUNCHLINE FEATURES SERVICES FOR YOUTH MINIMUM CAPITALREQUIREMENT FEATURES Youth bank is banking service for children, aged up to 18 years, to help the parents meet the present and future aspirations that they hold for their child. It offers various savings and investment options to the parent along with teaching the child to manage his/her personal finance in a more responsible and independent manner. We offer: * Option of a Savings Bank account, Fixed Deposit or Recurring Deposit. * Minimum average balance to be maintained at (100) per quarter for the Savings Bank account. * Free personalized cheque book * Free International Debit Card for children above the age of 7 years with features as below: * Daily withdrawals limits of Rs. 500 * Daily spend limits of Rs. 500 * The next time you want to withdraw cash from your youth bank Savings account, just walk into any bank's ATM and use your Bank ATM-cum-Debit card for free. The above benefit is available to Youth bank Savings Account holders on maintenance of a quarterly average balance of more than Rs.500 in the savings account in a quarter. The above benefit can be availed in the same quarter. * Free Internet banking. * Separate login ids and transaction password. * Access to special zones and links to related websites for...
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...Position: Financial Services Representative Job Description: Provide financial service to our membership. Dispense information about various types of accounts and other Credit Union services. Handle establishment of new membership, open all accounts, and process changes. Handle deposits, withdrawals, issue money orders and enter transactions into a teller terminal. Hours are 8:30AM - 5:30 PM, Monday - Friday. Requirements: Minimum high school diploma - a 4 year degree is preferred. Candidate must possess a high level of self-control, self-confidence, patience as well as good mathematical and communication skills. Candidate must complete the Credit Union's basic module program within 24 months of hire date as a condition of employment. Credit and criminal background check will be performed.”(State Employees Credit Union 2012). “A credit union is a cooperative financial institution owned by, and operated for, the benefit of its member-owners. These members share a common bond—in our case, state and public school employees and their family members. Credit unions are not-for-profit organizations that allow a group of individuals to pool their money, lend it to one another at fair rates of interest, earn reasonable rates of return on their deposits and receive other financial services at low costs. All this is done with the focus squarely on improving the economic and social condition of the member-owner (https://www.ncsecu.org/AboutSECU/WhatisSECU.html 2012). Individuals goals...
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...4 MANAGING YOUR CASH AND SAVINGS Cash Management Strategies Starting Point Go to www.wiley.com/college/bajtelsmit to assess your knowledge of cash and savings management. Determine where you need to concentrate your effort. What You’ll Learn in This Chapter ▲ Cash management ▲ Financial institutions ▲ Financial products and services After Studying This Chapter, You’ll Be Able To ▲ Assess your need for cash management products and services ▲ Evaluate the differences among providers of cash management products and services ▲ Choose cash management products and services that are important to your financial plan ▲ Compare cash management account options based on liquidity, safety, costs, and after-tax annual percentage yield ▲ Select appropriate tools for dealing with cash management errors Copyright © 2012 John Wiley & Sons, Inc. 4.1 OBJECTIVES OF CASH MANAGEMENT 169 INTRODUCTION Everyone manages cash. Your very first exposure to personal financial management was probably related to cash management. Perhaps you received a small allowance when you were a child and had to decide how to spend or save the money. Access to cash to meet transaction needs and emergencies is essential to your financial plan. A central part of your cash management strategies involves choosing cash management services, such as checking and savings accounts. This chapter helps you evaluate companies and the cash management services they offer. After you select the options that best...
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...TOOL 4 W An Introduction to Liquidity and Asset-liability Management Monnie M. Biety hen a formerly credit-only microfinance institution (MFI) starts raising voluntary savings and using those deposits to finance the loan portfolio, the liquidity and asset-liability management of the institution becomes more complex. The institution not only has to deal with the fluctuating demand and varying interest rates and terms on loans, but also with erratic deposit demands and withdrawals and changing interest rates and terms on savings. Liquidity and assetliability management in savings institutions requires a coordinated, planned approach. Liquidity Management Liquidity refers to the ability of an institution to meet demands for funds. Liquidity management means ensuring that the institution maintains sufficient cash and liquid assets (1) to satisfy client demand for loans and savings withdrawals, and (2) to pay the institution’s expenses. Liquidity management involves a daily analysis and detailed estimation of the size and timing of cash inflows and outflows over the coming days and weeks to minimize the risk that savers will be unable to access their deposits in the moments they demand them. In order to manage liquidity, an institution must have a management information system in place—manual or computerized—that is sufficient to generate the information needed to make realistic growth and liquidity projections. The information needed includes: ■ The actual deposit...
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...overall objective of Dutch CFAs to support micro-finance programmes Partners of Dutch CFAs operating in the micro-finance market of Kenya Central questions Organization and methodology Process implementation and limitations of the study Structure of the report A brief description of micro-finance in Kenya and agencies as supported by Dutch CFAs Micro-finance in Kenya 2.1.1 The emergence of micro-finance as an industry 2.1.2 Types of micro-finance agencies in Kenya 2.1.3 Service delivery approaches 2.1.3.1 Savings services 2.1.3.2 Loan products 2.1.4 Outreach 2.1.4.1 Banks 2.1.4.2 NGO-MFAs 2.1.4.3 Savings and Credit Co-operatives (SACCOs) 2.1.4.4 ROSCAs and ASCRAs A profile of micro-finance agencies and schemes as supported by Dutch CFAs 2.2.1 General profile 2.2.2 Specific profiles 2.2.2.1 K-REP Development Agency (KDA) 2.2.2.2 Kenya Women Finance Trust (KWFT) 2.2.2.3 Jitegemea Credit Scheme (JCS) 2.2.2.4 PRIDE Africa – Sunlink Some conclusions 7 9 11 13 13 15 16 17 17 18 19 21 21 21 23 25 26 28 28 31 33 35 35 36 36 37 37 39 42 43 44 2.1 2.2 2.3 3 3.1 Who are the clients of KWFT? The official targeting policy of KWFT 3.1.1 Targeting of individuals 3.1.2 Working through groups 3.1.3 Targeting of areas? Characteristics of KWFT clients: external assessment 3.2.1 Business enterprises 3.2.2 Age and marital status of KWFT clients 3.2.3 Education levels among KWFT clients KWFT clients as they...
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...1. Even though the complete survey is not included in the case, summarize how the closed-ended and open-ended questions provided valuable customer insight for FIR. The closed ended responses, when matched with customer demographics, confirmed that FIR customers were generally typical of internet banking customers. Most had high speed internet connections, were men, and were in medium to high socioeconomic categories and many were in technical occupations. In general the open ended questions support three main points, The potential users still have a need for traditional banking services. One of them being mail deposits, another is access to a local ATM. Security is a concern even among sophisticated users. (Respondents 3 and 137) The big concern is the lack of security with the customers receiving phishing-type emails from hackers which can lead to identity theft. There is also a concern to small businesses that they do not have a big enough protection policy when it comes to identity theft/hackers. The existing user base is happy with the convenience and the quality of service. Based on the surveys, the respondents believe FIR is simple and easy to use when viewing and paying bills. 2. What customer segments are targeted by FIR? On what issues should FIR focus in order to build relationships with its varied customer segments? The customer segments that are targeted by FIR are customers who are innovation-minded, busy and technologically advanced...
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...ABSTRACT This report deals with “internet banking” Its scope, advantages and background ACKNOWLEDGEMENT First of all we owe dear Almighty Allah who gave us strength, knowledge and tenacity to undertake and successfully complete the report. For help in preparation of this report we also extend our gratitude to, Sir Khalid Jamil Ansari who was very cooperative, benevolent and relent throughout. In the absence of his guide lines which were very help full without it we won’t be able to prepare such a report which now is shaped as an ostensible report. Initially this report writing assignment was appeared as an arduous hindrance but the confidence he showed and the way he motivate us develop perk in us and we are finally able to complete this initially abstruse looking assignment. 1. INTRODUCTION Web Banking or Internet Banking is a term used to describe banking transactions that are performed via a secured Internet application. Web Banking transactions include such things as paying bills, transferring funds, viewing account statements and paying down loans and mortgages. Although Web Banking has been popular among young Internet-savvy people for many years, its popularity is expected to grow rapidly as Internet usage grows internationally and people discover the many advantages that it provides. Web-Banking.org provides an overview of Internet Banking. It discusses conventional and virtual banks, e-banking services, Internet security and the cost/benefit considerations...
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...History of Philippine Cooperative Based on available sources, notably the Cooperative Development Authority, tracing the history of Philippine cooperative movement would not be complete without mentioning the name of Dr. Jose P. Rizal who, in his travels to Europe in the latter part of the 19th century, was impressed with the success of a new economic movement which transformed the economic and social life of the Europeans. After his side trip to Sandakan, Borneo in 1892, Rizal requested Governor General Despujol to allow him to move with some relatives and friends to that place and establish therein a colony under the cooperative production and marketing plan of Robert Owen, who is acknowledged as the father of world cooperation. Instead, he was arrested for treason and banished to Dapitan, Zamboanga del Norte. In Dapitan, Rizal had his ideas in cooperation partially fulfilled. He put up a school for the poor community on a purely cooperative basis. He also established a cooperative store with the help of his pupils. One noteworthy group organized by Rizal was the La Sociedad de los Abacaleros (Society of Abaca Producers). This functioned for only one year. Rizal returned the members share capital without any loss. Another name worthy to mention is Teodoro Sandiko, who in his travels in Europe, must have had a close contact with the cooperative movement in Germany where he came across with the Raiffeisen movement. He was very much impressed by this type of cooperative and...
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...ASSIGNMENT 1 CUSTOMER SATISFACTION AT BRITE BANK Brite Bank commenced operations a couple of years back and has a network of 25 branches, primarily operating in Mumbai, Pune, Nashik, Nagpur and some district capitals in Maharashtra. Started by a group of industrialists, the bank has been able to quickly commence operations and currently has more than 25,000 customers in its fold. The top and middle level management have been recruited from large private sector banks and are industry veterans. Ms Sneha Kulkarni, COO was a high flyer at one of the largest private sector banks, when she joined Brite. Her vision was to create a work force that could be nurtured on the vision and values of Brite Bank. Hence, all branch level officers and assistants were recruited and trained by the bank. For this, the bank tied up with AK Institute of Banking & Finance, a training institute, to provide initial training to probationary officers and Banking Assistants recruited by the bank. Advanced training was imparted by Brite’s own training team, both at the bank’s corporate office and at branch level. According to Brite, exemplary customer experience could be a unique differentiator to increase customer base. Large part of the initial infrastructure investment, was spent on creating an IT infrastructure which would enable the bank to quickly roll out value-added facilities like ebanking, mobile banking and enable tracking customer transactions, trends and behaviors. The bank scaled up to 25 branches...
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...SAMPLE CHAPTERS 1-5 1 ASSESSMENT ON THE FINANCIAL SERVICES OF CAVITE METRO CREDIT COOPERATIVE IN IMUS CITY, CAVITE Rosanne Esmeralda Bordador A Research Paper submitted to the faculty members of the Department of Management, Cavite State University-Imus City, Cavite in partial fulfillment of the requirements for the degree of Bachelor of Science in Business Management. Prepared under the supervision of Dr. Jennypher N. Fenomeno. INTRODUCTION Informal types of cooperatives are as old as human history. Whenever people come together voluntarily to help one another by providing a group service, they actually had a simple form of cooperative. But the cooperative movement as we know it today had its beginnings in Europe during the modern times as a result of the Industrial Revolution. In several European countries, the first cooperatives were organized by workingman who were seeking to change the wretched conditions brought about by the new age of machine and factory production that began in England two hundred years ago, and soon after in other countries. In England, the weavers and the other workers in the textile industry were the hardest hit, and they were among the first to organize cooperatives for the purpose of improving their desperate economic and social conditions (San Gabriel, 2010). The International Co-operative Alliance mentioned that Cooperative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural...
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...Interactive Teller Machines CMB 636 May 4, 2015 A new innovation that has evolved from the Automatic Teller Machine, (ATM) first seen in the Unites States in 1969, is the Interactive Teller Machine (ITM). (Wikipedia 2015) An Interactive Teller Machine (ITM) looks like an ATM, the difference is that customers will have a real time, face-to-face conversation with a teller at the machine. Using video cameras, images are transmitted to the personal teller located at a centralized location. Cameras at centralized location transmit the personal teller’s image back to the customer. Sound is carried through built-in speakers and a handset is available when using the machine in the lobby. The personal teller can guide the customer through every step of their transaction and answer questions about accounts. (Visterra 2015) The ITM uses two-way video that will allow the customer to see the Teller while allowing the Teller to see the customer. The ITM has both speakers and a built-in microphone for traditional communication, or the customer may pick up a receiver to allow for a more private dialogue.(Visterra 2015) In the lobby, the customer and the personal teller can see and hear each other using a video camera and speaker. Their conversation is just as private as if they were talking to a teller in the branch, if the customer prefers greater privacy, there is handset. At the drive-up, the customer and the personal teller can see and hear other using a video camera with built...
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...ABC Credit Union Code of Conduct Standards and Procedures The purpose of this procedure is to provide clarification of employee expectations when ethics are involved. This business is dependent on the trust of the members which is derived from the trust and confidence we build in the employees. Employees of a credit union are expected to maintain a higher level of honesty and integrity. The following procedures will help maintain the level of trust and integrity this is expected of employees. Standards and Procedures * Confidentiality 1. Our members have the right to expect that their financial information is kept private. Employees should not disclose any member information to any person who does not have the authorization to have the information; this includes other CU employees whose jobs do not require the information of members (Wasatch Peaks Credit Union, 2014). 2. All CU employees should refrain from discussing confidential member information, including but not limited to, names, account numbers, balances, and transactions; in a public place. All conversations must take place where the privacy of the member will not be compromised (Wasatch Peaks Credit Union, 2014). 3. Any information requested by a member either inside or outside of the CU will require proper identification. The employee must verify the identification of the member by using one of the following documents; driver’s license, passport, state ID; US military ID or permanent...
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...Banking and the client Experience Concept Paper Submitted to Webster University Graduate Faculty of the School in Partial Fulfillment of the Requirements for the Degree of Management and Leadership Banking and the client Experience Introduction In October 2010, the number of Americans expressing a "great deal" or "quite a lot" of confidence in banks fell to an all-time low of 18% -- lower than its level at the height of the global financial collapse. The 2008 financial crisis set into play a new tone of what it means to be financially confident. The once robust economy fueled by banking professionals who leveraged expertise and client banker relationship suddenly was overshadowed with fear and mistrust. The banking industry has invested significantly in rebuilding consumer financial confidence (Wood & Berg 2011) Client experience and exceeding consumer expectation is a critical component in banking success. How can banks exceed client’s expectations as it relates to their banking experience? Statement of the Problem As I continued my research to understand the scope of how to approach the challenge at hand, I interviewed a SunTrust Branch Bank Manager. During the interview, she stated that the client’s response to customer service is a key metric that has a direct effect on her business. She further explained how lobby traffic had decreased significantly due to the increase channels available to consumers’ to access their...
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