Free Essays,College Free Essays,Free College Essays at Anti Essays

Perception of power and politics
Orlando credit union is like all credit unions, it is govern by its Board Members. The Boards Members is composite of volunteers which are mostly retired, people from different back grounds. They have the power to change the policies, interest rates and employee loans. These volunteers exercise power which they do not have at work or at home. The size of the credit union does not matter, all credit union have a Board members that have the power to approve or denied any policy changes, refund fees to it members and increase or decrease of the interest rates. The board should implement its power wisely within guidelines of the business, while attending to its fiduciary responsibilities. In the past the Board members have used this power for their owned benefits. Two years ago the credit union was offering 2.50 percent on the savings accounts and 3.15 percent on the auto loans. The credit union was not making much of a profit. While the other financial institutions were offering 0.25 percent on the savings accounts and 5.50 percent on the auto loans. The Board member did not want to change the interest rate because some of them had large amount of monies in their savings accounts. The Board was not protecting the interest of the credit union; they were protecting their own interest.
Power and politics in the credit union goes hand in hand, in order for an employee to move up into a better position he or she must find a mentor or sponsor who has position and power, get under their wings, learn the rules of the game and play or stay in the same position for years.


Business and ethical considerations in operating on a global scale
Credit Unions are conservative when lending money to its members. When the Real Estate boom was in all it’s spender, most of the credit union including the Orlando Federal Credit Union did not joint the band wagon of the increasing prices of the real estate...