Member engagement with wealth management services in the Canadian credit union system
Subject
Credit Unions; Digital Adoption; Financial Literacy; Member Engagement; Responsible Investing; Wealth ManagementAbstract
Conducted within a collaborative community of inquiry encompassing a broad range of key
stakeholders, including members, credit union wealth leaders from across the country, and my
sponsor organization, Aviso Wealth, this thesis examined the research question: How might
leaders in the Canadian credit union system increase member engagement with credit union
wealth management services? The overarching methodology followed was an action-orientated
approach. Adhering to Royal Roads University’s ethics guidelines, the research included credit
union members who completed an anonymous survey to understand their current wealth
management relationships and perceptions, followed by a series of two virtual wealth leader
focus groups, during which participants refined the themed survey data and subsequently
engaged in a discussion of implementation recommendations. In both methods, I took an
appreciative inquiry approach, however, the scope of my research did not support the complete
use of the appreciative model. Member resultant findings and recommendations confirmed that
each component of this complex system has a leading role to play in increasing member
engagement with credit union wealth management. Furthermore, leveraging existing credit union
strengths, such as providing financial education to members, taking a collaborative approach,
and recognizing the inherent values in local credit unions intertwined with the national scale of
partnerships within the cooperative system, creates a powerful opportunity for change.
Keywords: credit unions, wealth management, financial literacy, member engagement,
responsible investing, digital adoption
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