CRANSTON, R.I. O.M. Financial Group said it has entered into a partnership with MassMutual Trust Co. to offer a program that seeks to address both rising employee benefits costs while also increasing investment earnings potential for credit unions.
The new offering, called the O.M. Financial Earnings Enrichment Program, “provides credit unions with a means to pre-fund a wide range of employee benefits with investments that may generate higher returns than traditional credit union investments,” according to the company.
“This program can increase a credit union’s earning potential,” said Joe Tripalin, O.M. Financial’s national marketing director. “The credit union can then use the returns generated by the program to offset its employee benefit costs, which can improve its bottom line.”
O.M. Financial said it will customize and implement the program for credit unions, while MassMutual Trust provides investment management and administrative services.
O.M. Financial is an independent financial services company that has designed benefit-related programs for more than 200 credit unions nationwide.
