Credit union's internal 'think tank' leads to changes
If Idaho State University Federal Credit Union employees are feeling stressed, they can enjoy CU-provided massage chairs during their break time. And employees who have logged seven years or more with the organization can take a month-long paid break.
“We want to have employees that are engaged and satisfied with their employment,” said CEO Robert Taylor. “To accomplish this we strive to provide our employees with a work-life balance that focuses on physical, mental, and spiritual/emotional wellness.”
ISU was ranked No. 15 overall and No. 2 among credit unions with assets between $200 and $500 million in the Best Credit Unions to Work For 2018.
ISU FCU is a former Best Credit Unions to Work For winner, and this year Taylor explained that the credit union took a “grassroots approach” to its insurance program and partnered with a local healthcare cooperation to “bring great, yet affordable insurance options” to the CU’s 80 employees.
“The average surgery out-of-pocket price has been 50 percent less than with our former, more traditional plan,” he said.
In an effort to foster transparency, the credit union developed an intranet where employees can ask questions and provide feedback to management. Among initiatives resulting from this process was an employee “think tank” that interfaces with senior management and branch managers.
“The think tank is led by department/branch managers and the goal is to obtain feedback (at least quarterly) from a wide range of employees,” said Taylor. “The executive team is provided with input from the discussion and changes to credit union policies and procedures have already been made as a result of this employee think tank.”
Founded in 1952, ISU FCU supports eight location and more than 29,000 members.