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Credit Unions Adding to HR Toolkit

WASHINGTON -There's priceless treasure waiting to be found in your credit union- employees. A recent NAFCU Flash Report survey finds that more credit unions are developing compensation and benefits programs to attract and retain staffers and even CEOs. According to the survey, creating an "ideal" CU work environment generally involves...

By Staff Writer | Updated on December 10, 2002

WASHINGTON -There’s priceless treasure waiting to be found in your credit union- employees. A recent NAFCU Flash Report survey finds that more credit unions are developing compensation and benefits programs to attract and retain staffers and even CEOs. According to the survey, creating an “ideal” CU work environment generally involves increasing coverage of medical benefits; paying larger portions of the premiums; and extending medical benefits to cover all family members. To entice CEOs, many credit unions offer an additional compensation structure such as 457 plans. The timing couldn’t be better for creative offerings. The Society for Human Resource Management finds that companies are tapping into basic needs such as shelter with 15% dangling housing perks such as grants or forgivable loans to help employees with rental, down payment or mortgage costs.

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