While the economy is said to have recovered, significant uncertainty still remains. And in times like these, it is very important that you are able to be creative with how you retain your employees. One of the benefits you may want to offer your employees, therefore, is membership to the best credit union Florida has to offer. It is common for credit unions to allow memberships to be given to employees if they work for certain companies. This basically means that you can give your employees a raise, but without this costing you anything. In so doing, you will make your employees feel more appreciated and valued, leading to them being more productive as well. The benefits of credit union membership are vast, which means your employees will surely appreciate it.
The Benefits of Credit Union Membership
First of all, by having membership to a credit union, employees are provided with a range of monetary advantages. For instance, they are able to take out loans at significantly lower interest rates, or they can open savings accounts with much higher interest rates. This is why it is almost like giving your employees a raise, because they can increase their disposable income by transferring their current financial agreements. Additionally, because they get higher yields on their savings accounts, they get more money as well. You are basically enabling your employees to make sure that their money works for them.
Then, there are the emotional benefits. If a company clearly demonstrates that they have investigated financial institutions that provide special services with better rates and lower costs, then they send out a message that they care about their employees’ financial wellbeing. This means that your overall culture will be a lot more positive as well. It is a known fact that when employees feel that they are valued, they are more likely to pour more energy into the company they work for as well.
There are more benefits to being a credit union member as well, and these all translate to employee benefits. This includes:
- Low interest rate institutional credit cards.
- Special vehicle finance agreements.
- Free checking, generally without a minimum balance requirement in place.
- Special deals on fun activities such as entrance fees to amusement parks.
- Discounts on leisure activities such as hotel stays.
- Personal services for those applying for loans.
- Fast decisions on new loan applications.
When you decide to enroll your employees in a credit union by offering them their membership, you are giving them a high valued, but very low cost benefit. If your employees can take advantage of that benefit, it will literally cost you nothing as a business, but it will gain you a whole lot of happiness, engagement, and productivity. It is a way for you to show your workers that you care about them and appreciate their hard work, and a way for them to access benefits that give them strong financial advantages, while also providing them with convenient and fun perks.