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Swot Analysis For Summit Credit Union Regarding Training

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HRM420 Course project draft 1 Jennifer Measheaw Business Management, DeVry University HRM420 Kristen Thomure March 18, 2023 Course Project Draft 1 A SWOT Analysis for Summit Credit Union Regarding Training The SWOT analysis would identify the Strengths, Weaknesses, Opportunities, and Threats that Summit Credit Union faces regarding its training program. The analysis would highlight the areas where Summit Credit Union is strong, and improvements could be made. Strengths • Summit Credit Union has a world-class learning function that is well-versed in developing customized training programs to meet the needs of its employees. • The learning staff has a wealth of experience and knowledge that they can draw on to develop …show more content…

• The training resources to cover all the topics in a training program must be increased. This means some areas, such as loan underwriting, must be better covered. Opportunities • Summit Credit Union's learning staff has a wealth of experience and knowledge they can draw to cultivate advanced and effective training programs. • The lending guidelines, underwriting, and sales skills courses are highly rated by borrowers who crave to participate at any time. • The organization focuses more on customer service, thus making it a fantastic place to learn about lending. Threats • The economic downturn experienced in the US has caused a decline in the demand for loans, thus putting pressure on Summit Credit Union's training budget. • As the lending industry becomes more structured in the US and worldwide, it is likely to affect credit unions, which would need to invest more in compliance training (Summit Credit Union, …show more content…

• Lack of formal training in certain areas. Discussion of the two gaps and explaining how they could be filled with employee and lender training 1. Lack of formal training in areas such as loan underwriting and sales skills could be filled with employee training covering how to assess a loan application and close a loan. 2. The credit union's dependence on online learning tools makes it vulnerable to cyber-attacks and denies it an opportunity to achieve compliance training objectives. The gap can be addressed by implementing cyber security measures such as firewalls and anti-virus software. Needs Assessment What two needs assessment methods would you utilize based on your gap analysis? The two needs assessment methods that could be used in this situation are interviews and focus groups. Interviews with employees help to identify areas where formal training is needed, and focus groups can provide insights into how informal learning can be improved. Whom would you involve in your needs assessment, and

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