Research Article Two:

International Journal of Innovation and Applied Research (2015)

Vol. 3, Issue 3: 24-42.

The New Paradigm in Credit Unions development in Bangladesh: An assessment Study of the NCUDM

Liton Hubert Gomes^1&2

The Graduate School, University of Santo Tomas, España St. Manila, Philippines¹

Notre Dame College, Dhaka, Bangladesh²

Abstract. This pioneering transformational research aims to explore, assess and determine the New Credit Union Development Model (NCUDM) utilizing such specific variables as ideology, organization, human resource, operating environment, marketing, member savings, member loan, financial discipline and financial structure.  The NCUDM attempts to improve business management performance (BMP) and encourages Credit Unions (CUs) in Bangladesh to adopt its attributes.  Its success has been established in other countries; thus, the necessity of a study in this nature.  The key methodological tools are researcher-made questionnaire composed of 66 items with 10 sections to gather needed data from 450 stakeholders in the Cooperative Credit Union League of Bangladesh Limited (CCULB), expert panels, focus group discussions and in-depth interviews.  It also made use of secondary data for the period of 2007 to 2014.  The one-way analysis of variance (ANOVA) was utilized to test whether there are significant differences among the variables in large, medium and small CUs. ANOVA statistics results show variables that are important to the NCUDM with significant differences (p<0.05) in large, medium and small CUs. Overall result yielded a robust and significant contribution to transform CUs in Bangladesh to a new paradigm. Therefore, the NCUDM is favorable to use in transforming CUs in Bangladesh to a new paradigm.

Keywords: ideology, organization, human resource, operating environment, marketing, member savings, member loan, financial discipline, financial structure, transformation, new credit union development model, new paradigm.

Correspondence concerning this article should be addressed to Liton H Gomes. Electronic mail may be sent via internet to gomes_liton@yahoo.com