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…

When to Take Strategic Risk in Your Credit Union—Your ACTion Point

As a credit union executive, should you consider your personal financial success before the direction of your credit union? Yes and no. The reality of your position challenges you to lead your organization boldly into new initiatives, technology, and markets; however, every major decision you make comes with risk. Whether…

How Strategic CEO Succession Planning Can Position Internal Executives for Success

Planning to exit your organization as a credit union CEO ideally occurs years before your anticipated retirement date. Strategic credit union leaders understand the logistical and emotional process ahead of them. As a result, succession planning is an essential component to ensure the credit union’s success in the future, and…

How Credit Union Executives May Optimize Early Retirement Cash Flow to Secure Low-Cost Medical Insurance

Early retirement may be a goal you’ve been working toward your entire career by strategically saving, allocating your risk, and positioning your personal finances.. As a credit union executive, if you choose to retire before age 65, the age at which most people qualify for Medicare, you may also have…

How Credit Union Executives Can Optimize an Employer-Sponsored Retirement Plan

Nearly 80% of credit union 401(k) plan participants have all or some of the retirement savings going into a target-date fund. The concept is certainly attractive, offering an entire portfolio with automated rebalance features for those who are less comfortable with self-managing their investments. But is the target date fund…