Ascend Federal Credit Union has been recognized by Credit Union Journal as one of the top 50 best credit unions to work for in the United States for the fourth consecutive year. Ascend is the only Middle Tennessee credit union ever recognized and the only Tennessee credit union listed four times since the survey and awards program’s conception in 2014.
To qualify for the Best Credit Unions to Work For, a project done in partnership with Best Companies Group, companies must have a minimum of 25 employees and have been in business for at least one year. The highlights that led to Ascend’s recognition include above-average employee compensation, significant 401(k) contributions, superior health insurance coverage and a collaborative, nurturing company culture.
“Taking care of our employees is one of our greatest priorities, and we are happy they see how much they are appreciated,” said Peggy Stubblefield, Ascend senior vice president and chief human resources officer. “Our wages are currently 51 percent above the minimum wage in Tennessee, and last year more than 50 percent of open positions at the credit union were filled by promotion. We truly strive to support our employees’ career and personal goals, and we are proud to be recognized as one of the best credit unions to work for in the country.”
Ascend pays for 100 percent of health coverage for employees, and 88 percent of employees are currently enrolled in the plan. Additionally, the organization offers notable 401(k) contributions: by the fifth year of participation, the credit union matches 100 percent of an employee’s contribution, up to 10 percent of the employee’s annual salary. Other factors include employee opportunities to support community fundraising efforts, wellness initiatives and tuition assistance.
The Best Credit Unions to Work For process includes submitting an in-depth employer benefits and policies questionnaire, detailing organizational policies, practices and demographics. Employees then provide feedback in an employee engagement and satisfaction survey, which consists of 78 statements to respond to and two open-ended questions. The results are categorized into eight areas: leadership and planning; corporate culture and communications; role satisfaction; work environment; relationship with supervisor; training, development and resources; pay and benefits; and overall engagement. After all the data is compiled, Best Companies Group ranks each participating organization and releases the list of the top 50 credit unions.