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Why Credit Unions Are Joining Captives and What’s Driving the Shift
John Harris in Credit Union , Employee Benefits , Healthcare , Self-funding
Employer health insurance costs are rising at the fastest rate in 15 years, with projected increases of 9.5% in the coming year alone.
How Credit Unions Are Collaborating to Protect Their ROA
John Harris in Credit Union , Employee Benefits , ROA
Rising federal interest rates are intensifying competition for low-cost deposits, pushing up funding costs and compressing margins across the credit union industry. After peaking at 1.07% in 2021, credit union return on assets (ROA) is projected to fall to 0.80% this year. “You can’t grow loans as quickly when deposit rates are rising,” says Mark […]
7 Benefits Credit Union Employees Want in Their Next Job
John Harris in Compensation , Credit Union , Diversity , Employee Benefits
Replacing one salaried employee can cost up to twice their annual salary, hurting member service and retention.
4 Misconceptions Credit Unions Have About Self Insurance
John Harris in Credit Union , Credit Union Insurance , Employee Benefits , Healthcare , Self-funding , Self-insurance
High-quality employee benefits are essential for attracting and retaining talent in today’s competitive market. Many credit unions are exploring self-insured (self-funded) health plans as a smarter way to control rising healthcare costs without sacrificing coverage. Self-insurance is simple: Your credit union funds claims directly as they occur, avoiding insurance company profits, premium taxes, and unnecessary […]
5 Reasons Credit Union Should Self-Insure Health Benefits
John Harris in Credit Union , Employee Benefits , Self-funding , Self-insurance
Credit unions are not immune to the scourge of rising healthcare costs facing employers across the country.
How to Choose a Benefits Broker (Without Wasting Time on Bad RFPs)
John Harris in choosing broker , Credit Union Insurance , Employee Benefits , Healthcare , rfp
Most benefits RFPs are outdated, ineffective, and poorly suited for selecting the right employee benefits advisor.
The Big Lie About Employee Benefits Costs
John Harris in Credit Union , Credit Union Insurance , Employee Benefits , Healthcare
The biggest opportunity to fund those innovations is hiding in plain sight: your employee benefits strategy.
Can Employee Benefits Costs Impact Credit Union ROA?
John Harris in Credit Union , Credit Union Insurance , Employee Benefits , Healthcare
How much can reducing benefits costs improve your Return on Assets (ROA)?
What Is Reference-Based Pricing in Employee Healthcare?
John Harris in Credit Union , Credit Union Insurance , Employee Benefits , Healthcare , Reference Based Pricing
Reference-based pricing (RBP) is gaining traction among smaller employers as a smart way to control rising healthcare costs.