Research and Problem Statement

Research and Problem Statement

Introduction

Credit Unions are non-for-profit financial cooperatives, which are under the possession of its members. As a matter of fact, a credit union provides many services, under the head of financial services. Among them, few essential are saving services and other credit related services for its members. Members of these unions create a pool of money in order to finance the loans of each other rather than relying on external capital. Regardless of size of account in the credit union, each of the members can cast a vote and may run volunteer board of directors (WCCU, 2013).

The problem statement in this paper is related to determine the perceptions, beliefs, attitudes and drives of employees related to credit unions. As a matter of fact, it is very essential that employees must see credit unions as one of the vital cooperatives which can provide needy services in hard times. However, if this does not happen, then the clash between the presence of credit unions and employees do occur, which would be detrimental for both of the sides. Hence, the purpose of this paper is to identify the problem statement from the purview of employees to discover the hidden schemes.

Usability of Research

This study on the awareness of employees pertaining to awareness of employees is very helpful. However, their understanding regarding what the purpose of credit unions is, what are the different elements that work within this domain is required. This study, as a matter of fact, helps to unearth hidden agendas which have been an active part in the mind of employees. This could be their assessment of advantages as well as disadvantages of credit unions, or any other factor that might affect their perception. The sole purpose of credit union is to give financial assistance to employees who are part of it (Stango, 2010: Stenning et. al., 2010). These financial facilities are of different natures, but, all in all, they do give remedies at the most critical junctures.

Additional part of the study is the measurement of employee's attitudes and beliefs. The classification of credit union is done on the basis of non-profit-cooperatives; this means that the main purpose of such kind of union is not making any kind of profit or to fetch benefit (Keating etl al., 2011). However, the idea of their existence is to ameliorate the economic conditions of employees. There may be different belief on the side of employees, and this study can give a better image of such a perception. By and large this study is very authentic to discover that why should employees join credit unions, from their own perspectives. However, if there is, then how it can better be improved, on the other hand if this is not the case, then this study can give results accordingly.

In addition to that, this study is very helpful to bridge the gaps between the overall understanding of employees and the concept of credit unions. The alignment between these two domains is very essential ...