1st United Services Credit Union
“As a credit union, one of our fundamental values is giving back to the members. That
same value is at the very foundation of the philosophy for all of our employee benefits.”
—Rachel Frazier, Vice President—Human Resources and Training, 1st United Services Credit Union
Company Facts
- Location: Pleasanton, Calif.
- Type of business: Credit union
- Number of employees: 159
- Founded: 1932
- Web site: www.1stuscu.org
Benefit highlights
- 68% – 100% employer-paid medical insurance premiums for employees and dependents
- 401(k) plan with an employer match of 180% up to 5% of pay deferred; average employee deferral of 8%
- 100% employer-paid premiums for short-term and long-term disability insurance
Percent of employees participating in 401(k) plan: 96%
Greatest impact on financial security of employees: Designing a 401(k) plan that helps employees build significant assets for retirement. “Preparing for retirement is crucial for all employees—no matter what age. Our goal with the 401(k) plan is to enable employees to retire comfortably when they are ready,” said Victor Quint, President/CEO of 1st United Services Credit Union.
Other interesting facts:
- Offers free access to a professional financial advisor
- 401(k) plan includes automatic enrollment and automatic deferral increases
- Full-service retirement transition program including the a retirement benefit guide, consultation with independent financial advisor, EAP consultation, reduced schedules and phased retirement from full-time to part-time.
Why Judges Selected 1st United Services Credit Union
Watch a video of comments from 10 Best judge Nevin Adams, editor-in-chief, PLANSPONSOR Magazine and PLANSPONSOR.com
Read the transcript
“They’ve got a very rich match on their 401k plan and, as a result, a very high participation rate. They do offer immediate vesting in that very nice 401k match, so that’s obviously very good. They offer medical coverage for part-time employees. That’s still a benefit that’s fairly rare these days, among employers, so that helped them stand out. And they pay 100 percent of the medical premiums, both for employees and for dependent coverage for their health care programs, and that’s a great benefit today as well. And then finally, they’ve installed some new features in their program as other employers have; automatic enrollment and the ability to select on automatic deferral acceleration each year to help people save more for retirement. And employer paid advice to help employees make the right investment decisions about their 401k investments.”
— Nevin Adams, 10 Best judge and editor-in-chief, PLANSPONSOR Magazine and PLANSPONSOR.com
