Sept. 4, 2006


  • What's the significance of "six" sigma factors?
  • I think Six Sigma or some variant can be an effective tool for credit unions to identify weaknesses in their processes. Some members will have patience with lower efficiency than they can get from a bank, but others think credit unions are banks, so we have to strive to combine the efficiency of a large for-profit institution with the ethos of a cooperative. A tall order for sure, but will ultimately benefit the members.
  • Six Sigma is a management philosophy with a customer based approach that focuses on reducing costly errors. More formally, it is a statistic that allows only 3.4 errors per one million opportunities when serving members. This reduction in errors equates to lower costs and improved customer loyalty. In order to do this effectively, a six sigma process is put into place.
    Molly Francis, Callahan & Associates
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    Jose G Luevano