Summit Credit Union

Instructions
For this assignment, you will be planning an approach you would use to complete a needs assessment at Summit Credit Union.
Please read the case and answer the 6 questions that follow. Note: It is important you reference your textbook when completing this assignment (for all the questions below).
Case Study. Training Needs at Summit Credit Union
Summit Credit Union, located in Wisconsin, is a small company with 780 employees. Its headquarters is in Cottage Grove, Wisconsin, and they have approximately 50 branches.
A merger in 2015 doubled the size of the company and made it necessary to build a new corporate culture. Summit’s mission is to improve credit members’ financial lives to help them achieve their dreams. For example, in 2020, Summit members saved over $13 million based on higher savings rates, lower loan rates, and lower fees than for-profit banking institutions in Wisconsin. Currently, they are the #1 mortgage lender in Wisconsin.
Summit has invested in creating a world-class learning function, which includes a team of seven professionals who can design and deliver instructor-led training as well as e-learning. Summit has shifted away from generic off-the-shelf training to developing online and face-to-face programs customized to employee needs and the company’s goals and initiatives. For example, the learning function is expected to play a key role in dealing with issues such as loan growth and increased sales. All learning staff members are expected to contribute to new company initiatives, such as new products and services, systems, or regulations.
Given its focus on growing revenue, Summit Credit Union has many lenders. The lenders report to a Lending Manager, who is responsible for supervising activities in the lending department. A lender evaluates and authorizes the approval of business, real estate, or credit loans. They are specialists in evaluating the financial status of a loan applicant. Duties include updating account records and reviewing loan files. Lenders can come into play in many situations. You might need one if you want:
A personal loan
To finance a car purchase
To buy a home
To pay for college
What’s the problem at Summit?
Summit has recently identified a problem with its new lenders. They were starting to perform their jobs without the necessary skills, information, and knowledge that they needed. As a result, when the members of the credit union submit loan applications, the lenders cannot determine if they should be approved for the loan.
The primary operations and source of revenue for banks are their loan and deposit operations. Customers deposit money at the bank, for which they receive a relatively small amount of interest. The bank then lends funds out at a much higher rate, profiting from the difference in interest rates.
As such, loans to customers are classified as assets. This is because the bank expects to receive interest and principal repayments for loans in the future and thus generate economic benefit from the loans.
Why are the lenders at Summit Credit Union unable to determine if loan applications should be approved?
One potential reason for this is how the lending training curriculum is organized. New lenders attend a course on different types of loans and the lending system, start their jobs and later return for a class on lending guidelines and sales skills.
Questions
1. What is the purpose of conducting a needs assessment before employees participate in training workshops? Research Requirement. You are responsible for having at least one citation (including the book, lecture video, and/or an external resource such as a website) for this response. The citation should be listed immediately after your answer (i.e., do not list the resources at the end of the assignment).
2. Who would be involved in the needs assessment – explain your answer? Specifically, describe the purpose of including employees (i.e., the lenders) and use an example to explain your answer. Next, discuss why you would include managers in a needs assessment and use an example to explain your answer.
3. Name and describe two advantages and disadvantages of using the interview method to complete a needs assessment. Research Requirement. You are responsible for having at least one citation (including the book, lecture video, and/or an external resource such as a website) for this response. The citation should be listed immediately after your answer (i.e., do not list the resources at the end of the assignment).
4. Suppose you decided to use the interview method to conduct a needs assessment at Summit Credit Union. Briefly explain who you would interview? State three questions you would ask during the interview. Questions. Rationale. Explain why you selected each question.
5. Name and describe two advantages and disadvantages of using the observations to complete a needs assessment. Research Requirement. You are responsible for having at least one citation (including the book, lecture video, and/or an external resource such as a website) for this response. The citation should be listed immediately after your answer (i.e., do not list the resources at the end of the assignment).
6. Suppose you decided to use observations to conduct a needs assessment at Summit Credit Union. Describe one specific observation you would make of the employees. Rationale. Explain why the observation would help you identify the training needs of the employees at Summit Credit Union.
Formatting Guidelines!
If you do not follow the formatting guidelines (-10), points will be deducted from your assignment.
When responding to the questions:
Copy and paste each question first. Then type in the answer below each question. Make sure you keep the question numbers.
To submit this assignment, select the Submit Assignment tab on this page. Type in your response in the text entry page or upload a document of your assignment.