Red River Credit Union Selected as One of the Best in the Nation

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Terri Hale, 515-283-8858,
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Red River Credit Union Selected as One of the Best in the Nation for Benefits Judges name Texarkana credit union as one of“The Principal 10 Best Companies for Employee Financial Security”

Red River Credit Union, based in Texarkana, Texas, is one of only 10 growing companies earning national acclaim for maintaining its commitment to offer employees extraordinary benefits, despite a challenging economy. 

      An independent judging panel of employee benefits experts named Red River Credit Union as one of the 2010 winners of The Principal® 10 Best Companies for Employee Financial Security, citing their exceptional retirement benefits and well-developed wellness program. 

      “Red River Credit Union faces the same challenges as other businesses. What makes them extraordinary is the priority they place on employee financial security,” said Luke Vandermillen, vice president at The Principal Financial Group ®. “Red River Credit Union did not cut benefits and will soon be offering fulltime benefits to employees working at least 30 hours a week. They understand the direct connection between strong benefits, a strong workforce and a strong bottom line – in the best and worst of times.”

     The Principal ® sponsors the national program, which is now in its ninth year.  It honors growing companies for their commitment to their employees’ financial security.

    “Red River Credit Union has 100 percent participation in their 401(k) plan. And that’s unique in these times. The other thing that impressed the judges is their generous employer match which could be as high as 7 ½ percent of the employee salary. On top of that they add another 3 percent for profit sharing. That shows their real commitment to financial security,” Deborah Hall-Pope, 10 Best judge and Chief Human Resources & Organizational Services Officer, ASCD, winner of The Principal 10 Best Companies—2009.

      Red River Credit Union has been a federally chartered credit union since 1943 and has 200 employees.            

      “It’s a terrific honor to be selected as one of The Principal 10 Best Companies,” said Robert Buck, Red River Credit Union’s president and CEO. “We believe that our benefits are one of the hallmarks of the organization, even in these difficult times. We have not taken away any of our benefits as a result of the economy—we didn’t want our employees to suffer. We have actually tried to step up our benefits in some ways”  

     Red River Credit Union was nominated for this recognition by Cheri Payne, financial advisor with The Noble Group. Other financial professionals who consult with Red River Credit Union on its employee benefit program are:

  • Tom Noble, financial advisor, The Noble Group
  • Lanna Smith, Ascensus, third party administrator of the 401(k) plan
  • Matt Robertson, Daines Insurance and Financial Services, benefits consultant
  • Chad Dodson, USAble Administrators, third party administrator for the health insurance benefit

 A summary of best practices from Red River Credit Union and other winners will be published and available in January 2011 at

The 2010 Winners

  • American Immigration Lawyers Association (AILA), Washington, DC
  • Clif Bar & Company, Berkeley Calif.
  • Davidson Technologies, Inc., Huntsville, Ala.
  • Farmers Mutual Insurance Company of Nebraska, Lincoln, Neb.
  • Franklin International, Columbus, Ohio
  • Red River Credit Union, Texarkana, Texas
  • RLI, Peoria, Ill.
  • The Bolles School, Jacksonville, Fla.
  • The Delp Company, Maumee, Ohio 
  • The Graham Company, Philadelphia, Pa. 


To learn more about the winners and the judging process, visit

About Red River Credit Union  

Red River Credit Union has been a federally chartered credit union since 1943. A not-for-profit financial institution, Red River Credit Union is member-owned. With 200 employees, Red River Credit Union has 15 branches in a 100-mile radius between Hope, Ark. and Clarksville, Texas.  

Benefit highlights:

  • 97 percent  employer-paid medical insurance premiums for employees; (25 percent employer-paid medical insurance costs for dependents)
  • 401(k) plan with a 100 percent employer match on the first 5 percent of pay, then a 50 percent match on the next 5 percent of pay; average employee deferral rate of 8.25 percent
  • Profit-sharing plan
  • 100 percent employer-paid premiums for long-term disability and life insurance.

About The Principal 10 Best Companies for Employee Financial Security

    The Principal 10 Best Companies for Employee Financial Security is a national program that recognizes small– and medium– size companies that excel at giving their employees a financial edge. Entrants must:

  • Have between five and 1,000 employees
  • Be based in the United States
  • Have provided a broad range of employee benefits for at least five years
  • Offer traditional employee benefits such as retirement and health, life and/or disability insurance

No entry fee is required. Companies owned by employees of The Principal are not eligible to enter. For more information, visit


About the Principal Financial Group  

The Principal Financial GroupÒ (The Principal ®)[1] is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies.  A member of the Fortune 500, the Principal Financial Group has $284.7 billion in assets under management[2] and serves some 18.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit 


[1] “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

[2] As of June 30, 2010.

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