The credit union benefit. (An Advertising Supplement: Staffing & Employee Benefits).

If your company is trying to attract and retain talented and loyal employees, there are many choices for you to consider when designing benefits packages for your workforce. Like most employers, you are looking for benefits options that balance quality and value for your employees and manageable costs for your organization. An important but often overlooked benefit that meets these criteria is employee access to a credit union. Credit union membership offers consumers an important choice of financial services that they will appreciate for years to come.

Credit unions are not-for-profit financial institutions that are owned by their customers, called members, and provide personal service and reasonable rates and fees compared to other financial institutions. As a financial cooperative, excess earnings are returned to members in the form of higher savings rates, lower loan rates, and lower fees than what are available at most financial institutions.

Once known for providing basic financial products such as passbook savings accounts or auto-buying services, today's credit unions offer employees the latest, most progressive services available. Wescom Credit Union, for example, offers its members credit cards, mortgage loans, investment and insurance services and more. Credit unions have not forgotten that financial consumers want convenience as well, and offer some of the latest electronic services.

A partial list of automated services available at Wescom includes:

* Telephone Account Access

* Internet Account Access

* On-line check imaging

* On-line bill payment

* On-line funds transfer capability

* Access to thousands of ATM's

As you can see, not only do credit unions represent a low-cost option to the financial services your employees will find elsewhere, but they can provide a full range of services as well.

In addition to the benefits your employees gain from credit union membership, many credit unions can supplement your organization's employee training with special on-site financial presentations or workshops. Consumer education is an important part of the credit union mission of service and community involvement. Wescom offers monthly financial seminars on a variety of topics, from investing for retirement to saving for college-tuition.

The most important benefit your employees will receive from credit union membership, however, is outstanding service. Credit union members are also the owners. This keeps credit unions focused on their needs and focused on service. Moreover, members actually run the credit union through a volunteer board of directors that they elect. Ask any credit union manager or employee what their top priority is and the resounding answer you will hear is "Member Service."

What will it cost your company to add a credit union to your list of employee benefits?

Nothing at all. Credit unions will work with your company to see that your employees receive the best possible financial services at no cost to you. By partnering with a credit union, you offer a benefit that will pay dividends to your employees every day and they will appreciate it. To quote a credit union member, "I love banking with your credit union--great service and friendly people. Thanks!"

And your employees will continue to receive the benefits of membership for a lifetime. An important credit union value is "once a member, always a member." This means that your employees will always have access to their credit union, so there is no worry about having to switch credit unions as there can be with other employee benefits. Most credit unions extend membership eligibility to employee family members as well. Roughly 80 million Americans enjoy the benefits of credit union membership.

Doesn't this sound like a benefit you would like your employees to have too?

Tom Orman is Vice President of Business & Government Affairs for Wescom Credit Union.