How Credit Unions Can Invest in Life Insurance for Executives  and Minimize Risk

Jay Rogers shares why credit unions invest in life insurance for top executives and a strategy to optimize life insurance-based benefits.

Credit unions commonly use life insurance-based executive benefits, such as collateral assignment split dollar plans to retain key talent. One of the original intentions has always been to leverage these benefits to incentivize an executive to stay in place in exchange for receiving life insurance coverage and tax-free income throughout retirement. However, what happens when […]

Is the Design of Your Credit Union’s Split-Dollar Plan Sustainable?

Collateral assignment split-dollar plans are a powerful executive benefit with favorable tax treatment that can incentivize retention and offer credit union leaders a long-term income stream in retirement. However, while many credit unions have collateral assignment split-dollar plans as part of their executive benefits mix, it is no secret that these tools are more complex […]

Risk Factors for Credit Unions to Consider When Designing a Split-Dollar Plan

When deciding which executive benefits to provide to your leadership team, your board may have landed on the benefits afforded by choosing a collateral assignment split-dollar plan. This benefit type is a legal agreement between the credit union and executive that incorporates retirement distributions with life insurance coverage. While split-dollar plans are relatively common, designing […]

Why Financial Planning is an Essential Executive Benefit for Credit Union Leaders

Traditional financial planning offers practical tools for rank-and-file employees; however, it simply doesn’t capture the full breadth of complex financial situations and compensation benefits a credit union executive has to manage in the C-suite. For example, beyond a standard 401(k), executives may also have a 457(b), 457(f), or split-dollar plan with different income distribution timings […]

Unlock 25% More in Assets With Personal Strategic Financial Planning

ACT Advisors is proud to release our white paper, The 125% Credit Union Executive, where we explain how financial planning is one of the least expensive benefits a credit union can provide its executives while significantly improving their financial outcomes — by as much as 25%. Executive benefits present many complexities that require personal financial […]

Split-Dollar Versus 457(f) Plans and What Credit Unions Should Evaluate

When building an executive benefits package that seeks to recruit and retain top talent, the question arises: with multiple options, which benefits should we include? Popular choices that uniquely benefit credit unions are the collateral assignment split-dollar (CASD) and 457(f) plans. Both are retention tools that provide retirement benefits to executives—but which is better? As […]

How Credit Union CEOs Can Make Bold Moves and Balance Personal Risk—At the Same Time

When is the appropriate time to undertake your boldest or most innovative projects? As a credit union CEO, you’ve likely considered how the risk of significant organizational changes may affect your future employment, and ultimately, long-term finances. These risks may arise from financial strain on your credit union or political challenges among your board. We’re […]