Red River Credit Union

Company Facts

Location: Texarkana, Texas
Type of business: Credit union
Number of employees: 200
Founded: 1943
Web site: www.rrfcu.com

Benefit highlights

“Our members aren’t going to get the best (service) if we don’t attract and retain the best employees. Our great employees help us to succeed financially.”
– Karen Rhodes, Human Resources director, Red River Credit Union

97 percent employer-paid medical insurance premiums for employees
401(k) plan with a 100 percent employer match on the first 5 percent of pay, then a 50 percent match on the next 5 percent of pay; average employee deferral rate of 8.25 percent
Profit-sharing plan
100 percent employer-paid premiums for long-term disability and life insurance.

Percent of employees participating in 401(k) plan: Now 100%

How they've continued to protect the financial security of employees in this economy:
“We have not taken away any of our benefits as a result of the economy—we didn’t want our employees to suffer,” says Robert Buck, Red River Credit Union’s president and CEO. “We have actually tried to step up our benefits in some ways. I understand we can’t have business as usual in all aspects, but I try to keep it as normal as possible even through difficult situations. There will be better times down the road.”

Other interesting facts:

Broad wellness program with health risk assessments, preventive screenings, health coaching, wellness incentives and more
In 2010, will provide full-time benefits to employees working at least 30 hours per week
Provides one-on-one meetings with a financial advisor

Why Judges Selected Red River Credit Union

Video Icon Watch a video of comments from 10 Best judge Deborah Hall-Pope.

Read the transcript

“I think why we liked Red River Credit Union was the fact that they had 99.4 percent participation (in the 401(k) plan—which moved to 100 percent since the day of judging). And that’s unique in these times. The other thing that was a good factor for them was the fact that they match 100 percent up to 5 percent plus 50 percent on the next 5 percent and then on top of that they added another 3 percent for profit sharing. And so that showed their real commitment to financial security. ”

– Deborah Hall-Pope, 10 best judge and Chief Human Resources & Organizational Services Officer, ASCD, winner of The Principal 10 Best Companies—2009

Financial professionals who advise on Red River Credit Union’s benefits:

Financial advisor: Tom Noble, The Noble Group
401(k) TPA: Lanna Smith, Ascensus
Benefits consultant: Matt Robertson, Daines Insurance and Financial Services
Health insurance TPA: Chad Dodson, USAble Administrators