Nevada Federal Credit Union: AARP Best Employers 2008

Winning Year: 2008

Industry: Financial Services

Location: Las Vegas

URL: www.nevadafederal.org

2008 Rank: 41

 

 

 

Nevada Federal Credit Union has a Member Investments & Insurance Services department with a team specializing in investments, insurance, retirement, estate, tax planning, and financial counseling. Employees are able to take advantage of these services. Approximately one-third of the company’s employees are age 50+, with the average tenure being 11 years.

 

Additional Policies and Practices:

 

Recruiting: Nevada Federal uses placement agencies for older job-seekeers to target mature workers and retirees. In addition, the company works with AARP in Nevada to communicate job openings.

 

Workplace Culture/Continued Opportunities: Nevada Federal offers learning and development programs to its full- and part-time employees, including tuition reimbursement, in-house classroom training, online training, webinars, and certification classes. During the past 12 months, 100 percent of Nevada Federal employees have participated in at least one of the training opportunities, with an average of 49 hours spent in training. The MAP or Mentor Assistance Program consists of teaming up employees for three weeks with mentors for one-on-one training.

 

Nevada Federal celebrates long-service anniversaries with announcements, parties, gifts, and awards. Employees gain experience and develop new skills by working on temporary assignments in other departments, by working on team projects, and by having access to formal job-rotation programs.

 

Benefits/Health: Full- and part-time employees working at least 18 hours a week) receive individual and family medical coverage, individual and family prescription-drug coverage, individual and family vision and dental insurance, and short- and long-term disability. All employees, regardless of how many hours they work, are offered individual long-term-care insurance.

 

Health benefits for retirees 65+ include individual and spousal medical and drug coverage, individual and spousal vision and dental insurance, and individual and spousal long-term care insurance, employee-assistance services, and individual life insurance or other death-benefit coverage. New hires are eligible for all of the above benefits upon retirement. The company offers employees flexible spending accounts and health reimbursement accounts to assist in covering out-of-pocket health care costs.

 

Benefits/Financial: Nevada Federal offers a 401(k) with an employer match to its full- and part-time employees. Employees may invest in lifecycle funds, and age-50+ employees  can make catch-up contributions to their 401(k)s, which include an additional employer matching contribution. Financial planning information is provided by staff members, staff from the financial-services firm that administers the 401(k), and from external financial-planning experts.

 

The credit union offers paid time off specifically designated for caregiving, short-term time off without pay, and long-term leaves of absence without pay, to allow for caregiving.

 

The following wellness programs are offered to full- and part-time employees: flu shots, health screenings, health-risk appraisals, smoking-cessation programs, health club discounts, physical activity and exercise programs, weight loss programs, stress-management training, an annual health fair, and the When the Fun Stops program, which assists people who have developed gambling problems. Forty-seven percent of the company’s employees have used at least one of its wellness benefits during the past 12 months. The company offers referral services to assist with care for children and  grandchildren and with eldercare and provides backup care for children, grandchildren, and elders, to its full- and part-time employees.

 

Benefits/Alternative Work Arrangements: Full-time employees are eligible to move to part-time work on a permanent and temporary basis, based on positional availability and business needs.

 

Opportunities for Retirees: Nevada Federal currently has 29 retirees and an employee directly responsible for retiree relations. The company stays connected with retirees by inviting them to organization events and celebrations, providing ongoing access to retirement planning workshops and information, and formally acknowledging employees when they retire.

 

Age of Workforce: Thirty-three percent of the company’s employees are age 50+. The average tenure of employees age 50+ is 11 years.