Washington Mutual

Washington Mutual

Washington Mutual is the United State 's biggest savings and loan association and is the last remaining survivor of the many major Seattle-based banks established prior to the 1980s mergers . Despite its name , Washington Mutual is no longer a mutual company and is also not a credit union . It is composed of 2600 offices with its headquarters , WaMu Center , located in Seattle . Also , the shares of Washington Mutual are publicly traded on the New York Stock Exchange

The primary activities of Washington Mutual include providing financial services to individual

consumers as well as providing financial services to small businesses . These financial services include retail banking business banking , consumer lending , mortgage lending , real estate mortgage , credit card services , insurance services and consumer investment services . The 2600 offices of the Washington Mutual offer assistance in any collection , if not all , of these given financial services

Ethical Position and Practices

As is the practice of major corporations and associations , Washington Mutual framed for itself an ethical code on which its employees could base their dealings with customers as well as with co-workers . This was in line with the association 's stated core value of fairness . It is the stand of Washington Mutual , based on this value of fairness , that the actions of the association are guided by fair , honest and integrity-driven ethics . In to standardize and make official their claim to ethical practices , the association compiled and published a document named the Mutual Code of Conduct which has been implemented in company dealings ever since the 1900s

The Mutual Code of Conduct includes different scenarios and cases that could possibly occur during an employee 's stay with the association . It also delineates the options of actions and responses that are available to that employee should he or she find himself or herself in that particular ethical dilemma . Exceptions are also stated indicating possible ambiguous cases and underlining strict rules by which these can be overlooked or excused as not being ethical misconducts

One of the ethical considerations included in the Mutual Code of Conduct are conflicts in interest . The association defines this as a situation wherein the employees interests could possibly prevent him or her from doing his or her work fully or when these interests could compete with the dealings of Washington Mutual . Thus employees are discouraged from investing in the businesses of their customers . The exception would be if this business was a public corporation with widely held stock , or if it was a family business of the employee himself or herself and it was closely held

Washington Mutual covers almost all aspects of the employee 's dealings within the company . The Code of Conduct includes aspects of allowable and unallowable acceptance of items of value from clients . This is due to probable bribery allegations and to policies of maintaining the prestigious reputation of the company . The detailed exceptions are also tackled regarding this matter

The Mutual Code of Conduct is so comprehensive that it even includes ethical...