“This credit union has treated me like family and that's why I came back to work here,” she said. “I'm pretty sure I'll be here until I retire.”

According to a study by Chelle DuBois, an adjunct professor at University of California Irvine, one way to retain employees is to provide rewards for great performance, such as a dinner out or even a short vacation.

“People need to feel appreciated,” DuBois said. “Feedback is a great tool but employees need to feel valued in a tangible way. The return on this type of employee investment will far outweigh the financial costs of this type of recognition over the long run.”

Speaking of a long run, Tennessee Valley Federal Credit Union (TVFCU) president Blake Strickland recently retired after a 37-year career at the credit union.

Strickland began as the organization's first marketing employee in 1978 and held several marketing and operational roles before becoming president and CEO in 1999. Under his leadership, TVFCU grew from $289 million in assets and 66,783 members to more than $1.1 billion in assets and more than 114,000 members.

“It has been a privilege to have worked with our dedicated board of directors and supervisory committee volunteers and to be just a small part of this tremendous staff that takes care of our members each and every day,” Strickland said.

Employees who have been with a credit union for many years are important because they have considerable knowledge of the organization's culture, products and services. They have experienced changes within the workplace and consequently understand what works and what doesn't. In performing their duties day after day, they develop a strong knowledge base, which results in higher productivity because fewer mistakes are made.

Employee turnover costs a credit union money. Expenses vary, but they typically include the costs for exit interviews and administrative tasks related to termination processing, severance or separation pay, and unemployment compensation.

Holding on to valued employees as well as taking the time to hire employees who will stay for the long term is important, especially with credit union hiring plans continuing to trend gradually upward.

Nearly 35% of credit unions – including about 55% of those with assets of $100 million or more – plan to add full-time employees in 2015, according to the CUNA report.

On average, credit unions plan to add 4.1 full-time employees. The figure generally rises with asset size, reaching nearly 20 anticipated new hires at credit unions with assets of $1 billion or more.

Almost 25% of credit unions plan to add an average of 1.8 part-time employees this year and fewer than 10% of credit unions plan to reduce full- or part-time staff in 2015.

Salaries are often cited as the main reason for an employee leaving, but it's not always about the money.

Taylor Monk, a career coach for Apple Temps in Riverside, Calif., stressed the importance of respect, communication, coaching and a work/life balance. “Of course people want to earn as much as they can, but they also want to contribute to the organization and be recognized for doing so,” Monk said.

Last month Tony Costa, a financial control specialist, celebrated his 40^th anniversary in the accounting department at the $1 billion Hanscom Federal Credit Union in Boston.

“In 1975, I had just graduated and was looking for work. The unemployment rate was really high then, about 10%, so I felt lucky to get the job, and I'm still here,” Costa said. “I just kept showing up. I never wanted to let anyone down.”

Back at Catholic CU, respect and recognition are something Byron “Spike” Weber receives on a daily basis.

Weber, Prast's father, decided to join his daughter at the credit union after he retired from a career in the auto industry. Weber said that his last 12 years as the maintenance coordinator at the credit union have been even more enjoyable than the job he worked at for more than 30 years. His job description includes keeping the company vehicles maintained, fixing broken office equipment, assembling toys for the marketing department and taking care of homes repossessed through foreclosures

“I had no idea my retirement job would keep me so busy,” Weber said. “Who knew I would work at a credit union well into my 70s?”