LAFCU named a ‘2020 Best Credit Union to Work For’ in the nation
LANSING, MI (September 29, 2020) — Fifty institutions made Credit Union Journal’s annual ranking of the Best Credit Unions to Work For in the nation, and LAFCU is one of the 50.
“There are approximately 5,100 credit unions across the country, and we’re proud to be among the 50 recognized in this industry ranking,” said Patrick Spyke, LAFCU CEO. “We’ve established a workplace culture based on empowerment, development and fun, and our team members have flourished.
“LAFCU employees make our credit union the best place to work. They are engaged, involved and willing to invest their talents into providing a superior experience for all.”
In partnership with Best Companies Group, Credit Union Journal determined the top 50 credit unions based on the results of a comprehensive employee survey and analysis of employer benefits, workplace policies and practices.
Noted in LAFCU’s entry are:
- Empowerment of employees to be leaders, with examples of the employee-led 2019 annual in-service day and the lunch food truck program suggested by an employee who was asked to implement it.
- Employee development initiatives that include encouragement to find their passion and build upon their strengths, resulting in creation of seven new positions in 2019.
- The positive energy powering the can-do attitude when serving members, engaging in community service and recognizing employees for their achievements.
Based on the survey, employees appreciate LAFCU providing perks such as interest-free loans for purchase of personal computers, and game stations during the holidays with activities such as playing JENGA with gift boxes and creating a silly Christmas craft.
Spyke said employees also recognized LAFCU’s quick response to the pandemic. The credit union quickly enabled about 80% of staff members to work from the safety of their homes without any decrease in member service. Tellers continued having live conversations with members via audiovisual capabilities of Interactive Teller Machines located at all branch drive-thrus. In recognition of change causing stress, LAFCU provided access to a wellness program for nutrition guidance, fitness challenges and recovery and stress management strategies.
“This award is not about individuals, it’s about teams and teamwork,” Spyke emphasized. “This national recognition speaks directly to LAFCU’s teamwork and commitment to that team. I am not surprised by this recognition, but I am incredibly proud and honored to work with such an amazing group of people.”
The 50 credit unions from across the nation rated a “Best Credit Union to Work For” ranged in size from tens of staff members and $76 million in assets to institutions with thousands of employees and more than $13 billion in assets. LAFCU has approximately 150 employees and more than $800 million in assets.
An example of employee empowerment in LAFCU’s “Best Credit Union to Work For” entry is the 2019 in-service day planned and executed by employees.
Positive responses to a food truck program developed by an employee-led to this community service event. Here free lunches are provided to McLaren health care workers in recognition of International Credit Union Day.
About LAFCU (MI)
Chartered in 1936, LAFCU is a not-for-profit financial cooperative open for membership to anyone who lives, works, worships or attends school in Michigan and to businesses and other entities located in Michigan. The credit union serves more than 69,000 members and holds $938 million in assets. It was named a Best Credit Union to Work For in 2020. LAFCU offers a comprehensive range of financial products and services as well as an expanding complement of financial technology solutions. Members enjoy benefits such as low fees, low interest rates on loans, high yields on savings, discounts, knowledgeable employees and nationwide access to fee-free ATMs. A recipient of the national Dora Maxwell Social Responsibility Community Service Award for credit unions, LAFCU enriches the communities it serves by supporting many organizations and causes. To learn more about LAFCU, call 800.748.0228 or visit www.lafcu.com.