Prospera.

Industry Sector:

Financial Services

Date of Partnership:

2022

Duration of Partnership:

Ongoing

Company Overview

Prospera is a credit union and at the time of this partnership was delivering financial services to more than 117,000 members across British Columbia through a network of 26 branches and Member Service Centre. Their primary lines of business are Personal Banking, Business Banking (including Leasing) and Wealth Planning. On July 9, 2025, members of Prospera, Coast Capital Savings (a federally regulated credit union), and Sunshine Coast Credit Union vote overwhelmingly in favor of merging to form Canada’s largest national purpose-driven credit union.

Opportunities

Prospera experienced significant change within a short period, including the rapid integration of two credit unions and a 24% reduction in the workforce as a result of the pandemic. After the merger, Prospera encountered a lack of clarity around their values and behaviours necessary to drive strategic alignment. There was a desire to build a comprehensive, neuroscience-based leadership development program for all employees to support one culture for Prospera aligned to their strategic plan.

ViRTUSfied Initiatives & Solutions

ViRTUS’s intervention, which involved comprehensive interviews across the organization to identify a unified set of values and leadership behaviours, led to the development of succession planning for senior leadership roles. Based on what we learned at this needs assessment, we created a leadership model and designed road maps for six levels of leaders and phased rollout by level. The programs are in different formats to suit the needs of each level. This process not only aligned individuals with appropriate roles but also facilitated upward career progression, thereby strengthening the organizational culture and strategic focus.

Outcome

The leadership development program has significantly impacted the organization, delivering notable results. To date, the organization’s Directors and Executive Reports have nearly completed their participation in the program, with the Executive Leadership Team (ELT) poised to move into a sustainment program shortly. Meanwhile, the People Leaders have begun their blended program.

A key achievement of the program is the establishment of a consistent language and learning approach across different organizational levels. This commonality in leadership philosophy is streamlining operations and enhancing communication throughout the organization. Another major outcome is the increased use of feedback as a communication and improvement tool. The strategic focus on feedback has fostered improved relationships and a stronger sense of unity among team members.

Moreover, the program has significantly boosted collaboration and trust within the organization. The adoption of a shared leadership model has facilitated closer connections among individuals, laying the foundation for enhanced teamwork. The increase in team-building activities has further cemented mutual confidence and cooperation. In summary, the leadership development program is not only refining leadership capabilities but also fostering a more cohesive and enjoyable work environment. This progress represents a substantial stride forward for the entire organization.

“Being with a cohort of my peers going through something like this together was invaluable.”

Prospera Participant, 2024

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