WaMU is the owner of the largest savings and loan in the U.S, Washington Mutual, Inc. working as the bank holding corporation for Washington Mutual Bank, its chief operating contributory, and different other financial services businesses. WaMu acquire fsb, a federal savings bank, Washington Mutual Life Insurance Company, a life insurance company, Murphey Favre, Inc and Composite Research & Management Co. Founded in 1889, Washington Mutual registered rampant growth during the 1990s as it expanded throughout the Pacific Northwest. In 1996, the bank nearly doubled its size by acquiring Irvine, California-based American Savings Bank.
Different organizations have different cultures. cultures is something that managers have to establish and run all the way through a business, with clear values and beliefs, successful business principles and operations, and a suitable emphasis on human resources and customer satisfaction. Culture plays an important role in growth of any organization WaMu have growth culture with customers and the community through innovation and enhancement in their corporate culture as they bring the friend and family catalog for their customers in filed of mortgage. They have a friendly culture for both the employees and the customers. WaMu have a growth culture through acquisitions. They transfer their culture by acquiring them and putting their employees under the few days training so they can understand the culture of WaMu. More over they believe that the customer is every thing, so they build up organizational values to help the customers.
WaMu's bosses radiated hubris. CEO Kerry Killinger predicted that the bank would become the "nation's leading retailer of financial services" and vowed to grab an incredible 20% of market share in mortgag ...