Credit Union Corporate membership

[Guest prrondez]

I am looking for a information regarding corporate credit union membership for an approximately 450 person organization. Perferably, I would like to find a credit union that could 'set up shop' onsite. Any recommendations or information is greatly appreciated!

Thank you.

[Sheila K]

Congratulations....A credit union affiliation is one of the best benefits you can offer your employees (Ok, I work at one!!!) Most states have a credit union league, which is the service organization or contact point for credit unions within that state. If you use this URL, you will be directed to the CUNA (Credit Union National Administration) credit union locator. Just enter your state and search for the credit unions near you which offer on-line financial services.

http://www.cuna.org/data/consumer/culinks/.../cu_search.html

Each credit union will be different, but our credit union ($600 million in assets) has some requirements for joining, such as having automated payroll deductions available, # employees, # years in business, etc. You will go through an application process with the credit union that you select.

When selecting a credit union, you will want to look for one with branches close to your location(s) that offer full service. Some small credit unions do not have the volume to offer Visa card programs, etc. You want to make sure that you offer the most financial services available for your employees.

Feel free to e-mail me at smkarizona@techie.com if you want more information regarding a specific credit union or additional assistance!

Good luck...Sheila K

[david rigby]

Just a thought:

If you do business with one or more banks (that is, if the bank is your client for any purpose), they may not appreciate that action on your part.

Not a criticism of banks or credit unions. Merely a political perspective. I've seen it.

[Sheila K]

David: You are correct. WE are experiencing that right now. One of our largest groups has cut a deal with their bank (who just happened to extend them a large amount of unsecured credit at a low interest rate..mmm) to offer discounted services to their employees. Of course, one of the conditions is that we no longer do on-site visits at their locations......It is a consideration, but I have a real problem with any institution (cu OR bank) limiting the access of their employees to any one type of financial institution!

Sheila K

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Good Luck!!!

Sheila K 8^)

[Guest nb]

I believe credit unions are one of the best benefits an organization can offer to its employees. If you can't find a credit union that fits your employees, check with your league about setting up your own.

[Sheila K]

nb:

Where should I send your check??? Tee Hee

Sheila K

[Guest nb]

To my credit union, of course. lol

I've been a volunteer board member for over 10 years.

[davef]

Many times when corporations set up "on-site" credit unions, they transfer some of their own employees to the CU and initially continue those people on the corporate payroll and cover them under the corporation's employee benefit programs. There is usually a charge back of expenses to the CU. Seems like a logical thing to do, but you can run into the issue of covering employees of an unrelated employer under the corporation's plans. To avoid a multiple employer plan situation, you may want to consider setting up a separate (but identical) benefits program for the CU employees.