Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
It's about trust: CUs beat national average in benefits survey
MADISON, Wis. (1/18/13)--Employees ranked credit unions as the most trusted source to help them grow and protect their money, in a national survey.

Eighty-one percent of employees said credit unions were a trustworthy source to help them safeguard their funds, according to the "Sharpening the Focus on Benefits Strategy," the first in a series of research briefs stemming from Prudential's "The Seventh Annual Study of Employee Benefits: Today & Beyond. Comparatively, 79% of employees saw their employers as a trustworthy source for growing and protecting their money.

Fourteen percent of both employers and employees cited severe negative economic effects, a decrease from 2010 results of 27% for employers and 22% for employees. Employers who said their financial position will be better or improving in one year dropped to 54% this year from 70% in 2010; employees report a drop to 38% from 44%.

Employers reported a 17% increase over 2010 results in making benefits strategies a main focus. With shifting ownership and cost of benefits to employees, employers' top strategies included:

  • Expanding wellness, preventive, and work/life balance initiatives;
  • Improving the effectiveness of benefits communications;    
  • Cost-sharing with employees;
  • Giving more financial responsibility to employees; and
  • Increasing employee benefits education and financial advice.
To read another article about consumer trust in credit unions, use the link.
RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
16 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
21 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
22 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
22 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
22 hours ago