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Employee benefits

The Best Credit Unions to Work For with assets from $200M - $500M

ByW.B. King
September 22, 2020 10:03 PM

From offering life skills classes and a young professionals group to providing tuition reimbursement and contributions to health savings accounts, these credit unions know how to take care of their employees.

This year 15 institutions with assets from $200 million to $500 million made the Best Credit Unions to Work For list. Overall, there are 50 credit unions in the ranking.

These credit unions distinguished themselves by making the workplace fun, financially taking care of staff members and encouraging community involvement.

Here are some highlights of the benefits those 15 credit unions provide.

Note: The asset size for each institution listed is as of June 30, according to data from the National Credit Union Administration. All credit unions are referred to by their chartered name as listed by NCUA.

Nymeo FCU Photo 2020.jpg

Nymeo Federal Credit Union

Frederick, Md.
Assets: $314 million
Overall rank: 3
Asset category rank: 1
President and CEO: Victoria Johnston

• Employees participate in teambuilding bowling outings.
• The credit union offers “stand out staff awards,” which are an incentive for employees who identify expense reduction or income opportunities.
• The credit union hosts a “bring-your-dog-to-work day” as one employee-centric initiative.

Pictured: Nymeo Federal Credit Union staffers send a reassuring message to members during the coronavirus that states, “We miss our members! We look forward to seeing you again! No matter your financial situation, know that we are here to serve you.”
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Idaho State University Federal Credit Union

Pocatello, Idaho
Assets: $262 million
Overall rank: 4
Asset category rank: 2
President and CEO: Doug Chambers

• Employees appreciate that immediate family members are invited to corporate events.
• The credit union has a self-funded insurance plan that includes auditing and advocate services so employees won’t face unreasonable charges.
• The credit union offers quarterly life skills training classes that provide workers with opportunities to learn important skills, such as public speaking and first aid.

Pictured: ISU Credit Union employees participate in a river cleanup day. The institution has a volunteer program, Teal Team VI, which rewards employees for getting involved in marketing and community efforts. Over 1,500 volunteer hours were logged by 80 employees in 2019.
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JANSSEN PHOTOGRAPHY

Colorado Credit Union

Littleton, Colo.
Assets: $248 million
Overall rank: 5
Asset category rank: 3
President and CEO: Michael Williams

• The credit union offers a tuition-reimbursement program of up to $3,000 for any class related to an employee’s job or career path.
• The credit union offers up to a 4% match for employee contributions to its 401(k) plan and provides profit sharing each year.
• To promote wellness during the pandemic, the credit union subscribed to a program called Wellbeats that offers virtual gym classes and recipes for employees.

Pictured: In a photo taken prior to the pandemic, the Colorado Credit Union team provides a sneak peek of a branch under construction.
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Texas Tech Federal Credit Union

Lubbock, Texas
Assets: $262 million
Overall rank: 12
Asset category rank: 4
CEO: Chris Hutson

• Texas Tech Credit Union recognizes an “employee of the quarter” for each quarter. Any staff member may submit a nominee, and winners are given a personalized award and a paid day off.
• Employees receive a paid day off every quarter to volunteer.
• Every employee must take a mandatory week of vacation so that they can recharge.

Pictured: Texas Tech Credit Union’s accounting team dresses up as an arcade claw machine for Halloween.
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Northern Credit Union

Watertown. N.Y.
Assets: $358 million
Overall rank: 13
Asset category rank: 5
CEO: Daniel St. Hilaire

• Northern Credit Union provides a profit-sharing plan, which allows workers to take ownership of the institution’s success.
• Staffers who reach important service anniversaries for employment are honored by senior management. Pictures of these celebrations are shared throughout the credit union.
• The Wow Space recognizes employees who have gone above and beyond, and are shared through the institution’s intranet system. Winners are selected through member and internal feedback.

Pictured: After a shopper learns that her groceries have been paid for by Northern Credit Union, she gives CEO Daniel St. Hilaire a hug.
University of Illinois Community Credit Union Photo 2020.jpg

University of Illinois Community Credit Union

Champaign, Ill.
Assets: $412 million
Overall rank: 16
Asset category rank: 6
CEO: Chris Harlan

• The credit union matches employee donations to the United Way campaign.
• The credit union offers CUNA’s Creating Member Loyalty program where employees earn “bucks” for a job well done that are redeemable for gift cards.
• Management provides surprises for employees frequently, such as fun contests, breakfast treats and spring cookies.

Pictured: Garvin Gerdes, a lending specialist, dresses up for St. Patrick’s Day to spread luck and give out candy.
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Leaders Credit Union

Jackson, Tenn.
Assets: $495 million
Overall rank: 18
Asset category rank: 7
President and CEO: Todd Swims

• The credit union offers four weeks of paid parental leave after the birth or adoption of a child.
• Leaders attracts millennial and Gen Z employees by offering a relaxed atmosphere at its electronic service center. There is no dress code and music is always playing.
• The credit union subscribes to the AirMedCare Network, a team of life-flight helicopters that can transport employees during a medical emergency for free.

Pictured: Employees gather for the annual Champion Summit.
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Atomic Credit Union

Piketon, Ohio
Assets: $410 million
Overall rank: 23
Asset category rank: 8
President and CEO: Thomas Griffiths

• The credit union recognizes internal staff promotions through emails, press releases and social media posts.
• The credit union contributes 10% of the employee’s annual salary to a 401(k) account divided up over four quarters. Part-time workers are also allowed to enroll in the retirement plan once they have met certain requirements.
• Atomic covers 100% of the premium costs on health, dental and vision insurance for employees and 90% for employees' dependents.

Pictured: Atomic Credit Union staff members serve hot dogs during a school supply event sponsored by Compel Street Ministries, a local ministry in Wellston, Ohio.
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Denver Community Credit Union

Denver
Assets: $393 million
Overall rank: 29
Asset category rank: 9
Co-CEOs: Tessa Bonfante and Shane Silvernale

• Employees enjoy free ice cream on Thursdays during the summer months.
• The credit union covers 55% of employees’ annual Sam’s Club membership fee.
• To help relief stress related to COVID-19, managers coordinated a series of fun activities via the credit union’s intranet portal, including themed days and a video joke series.

Pictured: Staff members enjoy a drink after participating in a 5K fundraising event.
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Rocky Mountain Law Enforcement Federal Credit Union

Denver
Assets: $260 million
Overall rank: 31
Asset category rank: 10
President and CEO: Christine Wiley

• Employees receive letters from the board along with a gift card to recognize their customer service and excellent job performance.
• The institution matches up to 4% of an employee’s contribution to a retirement plan. It also provides 4% of the worker’s annual compensation through a profit-sharing plan.
• To help advance staff members’ careers, the credit union offers monthly online classes, job shadowing, group training sessions and individual coaching.

Pictured: Rocky Mountain Law Enforcement Federal Credit Union employees have fun during member appreciation day in the summer of 2019.
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Simplicity Credit Union

Marshfield, Wis.
Assets: $312 million
Overall rank: 34
Asset category rank: 11
President and CEO: Patricia Wesenberg

• Employees are encouraged to nominate their coworkers for the Core Value Awards. Nominees are recognized during an all-staff meeting and winners receive an award.
• In response to the coronavirus pandemic, the credit union paid employees who had regular contact with members an extra $20 a day for a period of time. Workers who were essential but had little to no contact with members received an extra $10 each day.
• The credit union contributes either $1,200 or $1,800 to an employee’s health savings account, depending on the worker’s insurance plan.

Pictured: Simplicity Credit Union employees gather outside of St. John’s church, where the institution was founded in 1949, after completing a scavenger hunt as part of an all-staff training day.
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Texell Credit Union

Temple, Texas
Assets: $450 million
Overall rank: 37
Asset category rank: 12
CEO: Tony Hale

• During the first two weeks of the state's shelter-in-place order, Texell bought lunch for employees who were considered essential and could not work remotely.
• The credit union buys school supplies for workers with school-age children during a back-to-school event.
• More than 80% of staff members and their families attend the annual awards banquet where accomplishments are recognized. Door prizes, giveaways and entertainment are all part of the event.

Pictured: Texell Credit Union employees gather for a picture before the pandemic.
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Red Crown Credit Union

Tulsa, Okla.
Assets: $235 million
Overall rank: 42
Asset category rank: 13
President and CEO: Mike Moyer

• The institution provides rewards for meeting goals, such as back massages, extra vacation days and flip-flop week.
• Staff members can take 24 hours of paid time off to volunteer through Red Crown’s Make the Community Smile program.
• The credit union provides credit for workers to spend on branded apparel through its store.

Pictured: Employees attend the Oklahoma Blood Institute’s Be A Hero blood drive in Claremore, Okla. Red Crown sponsored the event.
Carolina Trust FCU Photo 2020.jpg

Carolina Trust Federal Credit Union

Myrtle Beach, S.C.
Assets: $280 million
Overall rank: 44
Asset category rank: 14
President and CEO: Timothy Carlisle

• Members and staffers nominate workers for an employee of the month program called Limelight. Winners receive a half day off, a parking spot, recognition on social media and are invited to a luncheon at the end of the year with the CEO.
• Management gives items such as YETI drinkware, gift bags and jackets, to employees to show their appreciation.
• The credit union sends personalized cards or bereavement gifts to employees who are going through a difficult time.

Pictured: Carolina Trust Federal Credit Union employees celebrate National Wear Red Day and Congenital Heart Defect Awareness Week by wearing the color red.
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People’s Federal Credit Union

Amarillo, Texas
Assets: $210 million
Overall rank: 48
Asset category rank: 15
CEO: Arthur V. Hornell Jr.

• A volunteer voter registrar on staff can register employees and members to vote.
• Several years ago, the credit union created a young professionals group. These staffers help onboard new hires, track the engagement of younger workers and encourage others to serve in leadership roles at local nonprofits.
• Through the High Five program, employees can give brags to their colleagues, which are worth points that can be redemed for gift cards, cash and paid time off.

Pictured: People’s Federal Credit Union workers enjoy snow cones during an employee appreciation event.
W.B. King
This article originally appeared in Credit Union Journal.
Employee benefits Employee relations Employee communications Employee engagement Employee retention Workplace culture Best Credit Unions to Work For
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