KNOXVILLE, Tenn. - The rapidly rising price of gas has credit unions seeking ways to reduce travel between facilities by staff and to help employees cope with the costs–a cost that could affect employee retention and recruitment.
At least one CU is even paying employees a bonus to help cover the cost of filling the tank.
“We’ve been aware of when trips need to be made to our seven offices,” said Katy Jett, community relations manager at Enrichment FCU here. “If there isn’t anything that needs to go, the courier is skipping that branch for the day and picking up inner-office items for the next day.
“Another thing is that we are becoming more aware of when things need to go branches and making a point to get it to the courier instead of running 30 miles because we didn’t get things to him for the daily trip.”
The 36,000-member Enrichment FCU has a branch that is about an hour from its main office. For that branch, the credit union has found it more cost-effective for them to send their inner office mail via DHL a couple of times per week, Jett said, and only receive a visit from the courier once every two weeks for large deliveries or supplies.
“We have employees that have parked their large SUVs and are driving smaller more economical vehicles during the week because of the price of gas,” Jett said, of the $284-million CU.
At the 16,000-member Cornerstone Community Financial Federal Credit Union in Auburn Hills, Mich., the CU is in the process of coordinating an effort to allow back-office staff members the ability to work from home one or two days per week.
“Right now, HR does it one day a week, and we have a computer programmer that does it two days per week,” said Shelley Beyer, human resources manager at the $167-million Cornerstone Community Financial FCU and member of CUNA’s HR Council. “By July 1 we will have our call center reps trying it out and our collection staff.”
Further in the future, it will most likely include marketing and accounting, Beyer said.
“It’s a slow process, one that takes a lot of coordination and planning,” Beyer said. “But in the long run, aside from saving on fuel, we are hoping it will be a good job perk.”
And it doesn’t stop there.
Fort Worth Community Credit Union in Bedford, Texas, recently began paying a gas subsidy of $25 cash every other week to its employees to help with commuting costs.
“Our employees are ecstatic,” said Tammy Trudelle, vice president of human resources for the $630-million CU, and member of CUNA’s HR Council.
In a memo Fort Worth Community CU CEO Richard Howdeshell wrote, “My age really shows when I remember that gas was only about 30 cents per gallon when I started driving. Beginning immediately, each employee receiving pay on each payday through December 2008 will also receive a $25 cash payment (to be distributed by branch managers and supervisors a day or two before payday). The intent is to offset some of the high cost of commuting to work… At the beginning of next year, we will consider renewing this program or implementing a cost of living adjustment.”
Cynthia McAree, vice president of the $1-billion Apple FCU in Fairfax, Virginia, said that although it isn’t currently offering anything “special” for its employees, it is using more gas cards for employee incentives during promotions. “We use WebEx for employee training to cut down on travel the headquarters,” McAree said, adding she also knows of employees who have begun carpooling.
Charter Oak FCU in Groton, Conn., is doing something similar to the 89,000-member Apple FCU, by conducting summer gas card drawings. Each week this summer, three employee names will be randomly chosen to receive a $50 gas card.
“Our employees work very hard, and are a dedicated group,” said Brian Orenstein, CEO of the $600-million Charter Oak, adding that he wanted to show his appreciation to them.
For More Info
* www.applefcu.org
* Ssl.enrichmentfcu.org
* www.ccfinancial.com
* www.usfed.org
* www.ftwccu.org
