BENCHMARK WINNER: Investment In United Federal Credit Union Employees Pays Big Dividends

From wellness programs to flash mobs to community involvement and charitable causes, United Federal Credit Union promotes employees as ambassadors and rewards their efforts with group activities that also encourage and enhance teamwork.

“People Helping People” doesn’t seem like that profound of a concept, but at United Federal Credit Union, it’s both motto and mantra for serving its members and its employees. The company’s practices, which have set the bar for its industry, have also earned it the 2016 Benchmark Award designation as a Best Place to Work.

“United Federal Credit Union, and the Arkansas market in particular, prides itself on employee engagement. UFCU leadership considers its employees key to our success as we work for a common cause — the member,” said Noel Andrew Sanger, market vice president.

“Our culture is about making sure we help consumers and business owners make the financial decisions that are best for them. It’s not a sales culture designed to pad stockholders’ pockets, but one where we enrich the lives of members by placing our focus on the services and products that will help them reach their financial goals.

“Our employees take great satisfaction in carrying out this objective [and thus] our employees are our best ambassadors and a big reason for our success.”

UFCU’s focus on the employee has driven turnover to just 6 percent in the Arkansas region, well below national turnover rates of between 15 and 22 percent. Sanger credits operational elements that address its 49 local employees as individuals first as one big reason why.

“We believe that by helping employees meet the everyday demands of life, they are better able to concentrate on their professional responsibilities and they feel valued by their employer,” he said.

The most conspicuous example of this philosophy in action is the company’s Best Upon Request concierge service where employees can request assistance in researching, booking and purchasing services for travel, entertainment and online shopping.

“For example, employees who will be taking a vacation but have no time to plan it can request that information be gathered on attractions and discounts available at their destination,” Sanger said. “The concierge can book flights, make hotel and restaurant reservations, reserve rental cars and secure tickets to attractions or theater productions.”

Sanger also regularly meets formally and informally with all employees to better understand their goals and issues, which has developed an environment in which open communication improves processes, reduces unnecessary red tape and results in professional development programs and performance assessments that are impactful and effective.

“It is worth noting that the vast majority of the people we hire are referred to us by our internal staff, which shows they think UFCU is a pretty good place to work,” Sanger said.

The Michigan-based institution operates five locations in Alma, Fort Smith, Van Buren and Springdale. In 2015, the company reported over $2 billion in assets, $17.5 million in income and 140,000 total members.

“That would not happen without a satisfied workforce that advocates for us and the goods and services we offer,” Sanger said of the company’s growth. “As the Arkansas market vice president, I follow two guiding principles: ‘Leadership takes care of the team and the team takes care of the member,’ and ‘Teamwork divides the task but doubles the success.’ ”

Asked for a management tip, Sanger said, “I would ask any employer to make sure every employee is challenged, engaged and understands their role for the good of the company.”