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Wk 1 Strategic Plan - Running head STRATEGIC PLAN PART I...

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Running head: STRATEGIC PLAN, PART I: CONCEPTUALIZING A BUSINESS 1 Strategic Plan, Part I: Conceptualizing a Business Christi Gurgis BUS/475 December 20, 2010 Brad Bergman
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STRATEGIC PLAN, PART I: CONCEPTUALIZING A BUSINESS 2 Conceptualizing a Business A credit union is a nonprofit, member owned financial institution owned and operated entirely by its members, providing low interest rates on loans and help its members in other areas of their finances (InvestorWords.com, 2010). Many credit unions do not have the ability, nor the funding means, to provide mortgages to their customers. To join the cooperative, it will give smaller credit unions the ability to offer these services to their customers at affordable rates. The following will discuss the cooperative, its mission, vision, and values, and analyze and evaluate the direction and needs. Business Defined My plan is to start a cooperative to assist credit unions in servicing their members with a centralized Chief Executive Officer and mortgage operations. This is not a new concept or idea, but cooperatives are not available in all states. I will start in North Carolina and work my way out to give other credit unions in other states the same financial success. Credit unions are on the decline and many are losing their CEOs to retirement or because of mergers. Many are too small to provide all services that larger credit unions can and joining a cooperative for half the cost of paying their own CEO is one of the best solutions to keep the doors open. The cooperative will be a full service, community-based and operated financial institution that provides a complete range of financial services with the convenience, ease, affordability and dependability that only a member-owned cooperative can offer (Credit Union One, 2010).
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