Skip to main content

How Benefits Are Now Being Used to Recruit, Retain and Motivate Senior Execs

FT. LAUDERDALE, Calif.–There is new pressure on credit unions to provide benefits plans to senior executives as the Great Resignation remains the new reality in the employment landscape, according to a trio of experts.

Speaking to NAFCU’s CFO Conference, the three experts, all of whom are with executive benefits consulting firm Gallagher, outlined what they are seeing and why when it comes to recruiting and retaining leadership.

Addressing the meeting were Liz Santos, chief of staff in the executive benefits practice, VP Tyler Talbot and Relationship Manager B.J. Burt.

According to the trio, executive benefits plans are not just about retaining C-suite leaders but also can and should be used to drive performance.

Nonqualified benefit plans are a specialized tool for highly compensated execs and staff that bridges the gap between 401(k) and other retirement options, the audience was told. They can be tailored to any credit union’s needs, they added.

“When properly designed they can mitigate the benefit expense and any excise tax liability,” said Santos.

The Case for Retention

The three pillars of the case for retention include, according to Santos:

Continue reading 👀

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

NCUA Issues Final Rule to Revise Record Preservation Requirements

ALEXANDRIA, Va. ― The National Credit Union Administration has issued a final rule revising record preservation requirements for credit unions in the event of a catastrophic act. This rule is codified at 12 CFR 749.   “Maintaining vital records is essential to the safety and soundness of any federally insured credit union’s operations and its ability to best serve members,” NCUA Chairman Kyle Hauptman said in a statement. “But NCUA, unlike other regulators, didn’t have a limit on how long records had to be kept. This led to unnecessary cost, hassle and uncertainty. This final rule will ease unnecessary and overly prescriptive preservation requirements, while ensuring that credit unions retain the critical documents needed in instances of disaster”  According to the agency, the vital records preservation program rule was first created in 1972 to ensure that federally insured credit unions keep duplicate records that can be used for reconstruction purposes in the event of ...
Post a Comment
Read Complete Article HERE>»

Boston Firefighters Credit Union Becomes First Responders Credit Union

New name reflects nearly 80 years of service and a growing commitment to first responders across Massachusetts BOSTON, MA, June 15, 2026 — Boston Firefighters Credit Union today announced that it has officially changed its name to First Responders Credit Union , reflecting the broader first responder community the organization serves while honoring the firefighters who founded it nearly 80 years ago. Founded in 1947 by members of the Boston Fire Department, the credit union was established to serve the financial needs of firefighters and their families. Over the decades, it has grown into a trusted financial institution serving firefighters, law enforcement professionals, EMS personnel, civilian employees of first responder agencies, and their families throughout Massachusetts. Today, more than 12,000 members rely on the credit union for banking, lending, and financial guidance tailored to the unique demands of first responder life. While the name is new, the mission is not. ...
Post a Comment
Read Complete Article HERE>»

Twenty-Five Years of Showing Up

www.NCOFCU.org/Tucson-AZ-2026    Attendee Registration Schedule at a Glance ...
Post a Comment
Read Complete Article HERE>»

Facial recognition to secure payments will exceed 1.4 billion globally by 2025

BASINGSTOKE, U.K.– The number of users of software-based facial recognition to secure payments will exceed 1.4 billion globally by 2025, from just 671 million in 2020, according to a new study from Juniper Research. “This rapid growth of 120% demonstrates how widespread facial recognition has become; fueled by its low barriers to entry, a front-facing camera and appropriate software,” Juniper said, noting the research identified the implementation of FaceID by Apple as accelerating the growth of the wider facial recognition market, despite the challenges to facial recognition during the pandemic with face mask use. The research recommends that facial recognition vendors implement robust and rapidly evolving AI based verification checks to ensure the validity of user identity, or risk losing user trust in the authentication method as spoofing attempts increase, Juniper reported. Fingerprint Sensors The new research, Mobile Payment Authentication: Biometrics, Regulation & Market Fore...
Post a Comment
Read Complete Article HERE>»

47-Second Loan Décisions. Underwriting in Minutes. How AI is Revolutionizing Turnaround Time in Mortgage Lending

May 27, 2026 CU Today TORONTO–While AI has been deployed across a host of back office functions, on the consumer-facing side its promise is increasingly being seen in mortgage lending, where lenders are promising mortgage approval decisions in as little as 47 seconds, reporting that up to a third of inquiries are now being handled by chatbots, and slashing underwriting time to just minutes. Toronto-based TD Bank Group said it has also deployed its first agentic artificial intelligence system in mortgage lending, reducing the time required to prepare applications for underwriting from an average of roughly 15 hours to less than three minutes. According to a statement from TD Bank, the new AI model automates mortgage pre-adjudication — the process that occurs before a human underwriter reviews an application. The bank said the system classifies borrower documents, extracts and validates financial information, calculates income, performs policy and consent checks, identifies discrepancie...
Post a Comment
Read Complete Article HERE>»

FFIEC Proposes Biggest CAMELS Overhaul In 30 Years, Citing Need For Greater Transparency

  W ASHINGTON —The Federal Financial Institutions Examination Council is seeking public comment on a proposed overhaul of the CAMELS supervisory ratings framework, marking what regulators said would be the first comprehensive revision of the bank and credit union examination system in approximately 30 years. Michelle Bowman The proposal would revise the Uniform Financial Institutions Rating System—better known as CAMELS—to place greater emphasis on material financial risk and improve the transparency and predictability of supervisory ratings. Regulators said the framework would continue to evaluate institutions on capital adequacy, asset quality, management, earnings, liquidity and sensitivity to market risk, while modifying certain composite and component rating definitions and evaluation factors. In announcing the proposal, FFIEC Chair and Federal Reserve Vice Chair for Supervision Michelle Bowman said the revised framework is intended to create “a decisive shift toward transpar...
Post a Comment
Read Complete Article HERE>»

NCUA Board Approves Final Rule on Dependent Care and Board Member Reimbursement

Alexandria, VA (June 8, 2026) ― The National Credit Union Administration today issued a final rule for Dependent Care and Board Member Reimbursement. The NCUA Board amended its regulations concerning the reimbursement of reasonable expenses for federal credit union officials to remove potential barriers to volunteer service. This final rule provides flexibility for a federal credit union’s board to adopt more family-friendly policies tailored to its size, region, and operations. Previously, dependent care costs had not been considered reasonable expenses under NCUA regulation 12 C.F.R. 701.33.  The final rule applies to all federal credit unions, including corporate federal credit unions. It will not apply to federally insured, state-chartered credit unions, which remain subject to state law. The final rule is effective 30 days from the date of publication in the Federal Register and takes into consideration public comments received from the proposed rule that was issued on Januar...
Post a Comment
Read Complete Article HERE>»

Update from TruStage - Forecast for CU, Economic Performance for Remainder of 2026, 2027

MADISON, Wis. — Credit unions are expected to post stronger loan, deposit , and asset growth in 2026 despite a slowing economy, persistent inflation, geopolitical uncertainty, and continued pressure on consumers, according to TruStage’s latest  Credit Union Trends Report . The report, prepared by TruStage Chief Economist Steve Rick and based on December 2025 data, forecasts credit union loan growth will accelerate to 5.5% in 2026 from 4.6% in 2025, while savings growth is projected to increase to 6.5% from 5.5%. Asset growth is expected to improve to 6.2% in 2026 from 5.4% in 2025. Credit union membership growth is forecast to reach 1.8% in 2026 and 2.0% in 2027. The CU Daily has separate reporting on credit union performance by category here .  According to TruStage, a changing global economic environment has altered its outlook for both the U.S. economy and the credit union system. The report noted disruptions stemming from the closing of the Strait of Hormuz have created su...
Post a Comment
Read Complete Article HERE>»

AI Rapidly Reshaping How Consumers Discover, Compare & Choose Banking Products (But Trust Remains an Issue)

  Frank Diekmann May 26, 2026 SYDNEY — Artificial intelligence is rapidly reshaping how consumers discover, compare and select banking products, forcing financial institutions to rethink their digital marketing and customer acquisition strategies, according to a new report from Bain & Company .  The report, titled “How AI Rewrites the Rules of Brand Discoverability in Banking,” found that AI assistants such as ChatGPT, Claude and Google Gemini are increasingly acting as the first point of contact between consumers and banks, particularly in Australia, where consumers are using the technology to evaluate products, interpret fees and even prepare applications for loans and credit cards.  According to Bain & Company, the traditional banking sales funnel — once driven by branches, brokers, advertising and search engine rankings — is rapidly shifting toward AI-generated recommendations and responses. ‘Increasingly Influencing Choice’ “AI assistants increasingly influen...
Post a Comment
Read Complete Article HERE>»

DC Round-Up

  HUD Makes ACU-Requested Change; Hearing on Payments Today; CU-Backed Candidate Wins in Utah WASHINGTON–The Department of Housing and Urban Development (HUD) has updated Federal Housing Administration (FHA) quality control requirements to allow greater flexibility and alternatives to appraisal field reviews in a change that had been requested earlier by a coalition of 10 trade groups, including America’s Credit Unions .  The new provisions took effect immediately when released in a Mortgagee Letter on June 23, . According to ACU, the change removes the requirement for mortgage lenders, including credit unions, to obtain appraisal field reviews on at least 10% of origination and underwriting quality control reviews.  “The change will make field reviews optional for appraisal quality control, maintain FHA’s core appraisal compliance framework, and give lenders the ability to tailor their review methods on a case-by-case-specific risk,” America’s Credit Unions said. “The r...
Post a Comment
Read Complete Article HERE>»