We’re thrilled to improve the financial well-being of utility workers and in doing so, improve productivity for the employer.
Wyomissing, PA (PRWEB) May 23, 2012
Utilities Employees Credit Union (UECU) has recently seen its financial services intersect with the needs of workers in America’s utility and energy industry. During a period of extended economic challenges for many U.S. families, many workers are showing signs of financial distress that follow them while they’re on the job. UECU offers a free voluntary benefit for utility companies to extend to employees and their families in order to promote financial wellness, reduce company health care costs, and enhance worker productivity.
“While this is a service we’ve always offered our sponsor companies, it’s in these recent years that we’ve seen a real need among employees. Now the utility companies in our field of membership recognize the value of financial services as an employee benefit – much like the value of health insurance,” says Jane Kennedy, Business Development Manager for UECU.
Worker health and benefits studies such as the annual MetLife Employee Benefits Study released earlier this year, are reporting lost productivity, employee absences, and increased health care costs related to financial stress. In an economic climate where companies cannot always offer additional financial compensation to their workers, voluntary benefits can provide alternative relief for employees. Some companies are offering financial wellness programs as a stand-alone benefit or as part of their employee assistance program. UECU membership provides these benefits and is available for free to employees in the utility and energy industry. The credit union offers additional employee promotions, benefits support, and financial education services to companies that offer membership as an employee benefit.
“We’ve simply taken a service we’ve always offered and highlighted the benefits to companies that are searching for an answer to their employees’ needs,” says Kennedy. “We’re thrilled to improve the financial well-being of so many people and in doing so, improve productivity for the employer. It’s a win-win and the best part is we offer this service at no cost to our sponsor companies.”
UECU provides several employee benefits beyond its traditional offerings as a full-service financial institution with member-focused savings, checking, lending, and credit card products. The Credit Union has tailored its products, services, and educational resources to provide financial solutions for all ages and lifestyles, including youth, college students, couples, growing families, and retirees. UECU recently added a new Wealth Management Department that adds to its existing resources for health care, education, and retirement savings and investment options. The Credit Union offers a free credit counseling program and a variety of free online financial services, and plans to enhance its virtual banking system this year with additions including mobile banking and online family budgeting tools.
To obtain information on providing free employee financial benefits through Utilities Employees Credit Union, utility and energy companies can visit benefits.uecu.org or call 800-288-6423, extension 6034.
About Utilities Employees Credit Union
Utilities Employees Credit Union is a nationwide, virtual credit union providing financial services to 45,000 utility and energy workers and their families since 1934. Its membership includes the employees of 600 companies and members of Energy People Connect, an association for individuals currently employed or pursuing employment in the energy industry. In 2011, UECU received the distinction of joining the less than one percent of U.S. credit unions to receive an A+ “Excellent” Weiss Rating for financial soundness and one of the few financial institutions to reward its members with a year-end bonus dividend, which last year totaled $1.2 million.