How Can a Properly Designed SERP Help Your Credit Union

2021 Resolution- Keep Your Key People

As you reflect on 2020 and the tremendous work your leadership team has put forth, you are likely thinking about ways to make sure this battle-tested team remains with your credit union for the long-term.  A properly designed SERP can help you retain and reward those talented leaders.   It is well known that:

2021 Resolution - Keep your key people!

  • Your team likely worked harder than they ever have in their careers!
  • Talented employees want to feel like a part of a leadership team for the long-term.
  • The credit union and members get more value out of a consistently high-performing leadership team.

By properly structuring a SERP, the credit union can show the commitment of working with them for the long haul and aligning additional value on a schedule aligned with credit union goals.

Newcleus Credit Union Advisor’s approach is holistic, where everything must benefit the credit union and by extension, the member.  Thus, when looking at SERPs, we want to make sure the credit union’s interests are protected, in addition to providing a substantive benefit to the covered executive.

By working through a sound process rooted in logic and transparency, we help guide credit union stakeholders through the entire process:

  • Development of the plan objective
  • Agreement on assumptions to be used in plan design
  • Crafting terms of the agreement
  • Integration into credit union risk management
  • Implementation and ongoing service, administration, and reporting of the plan

By partnering with Newcleus Credit Union Advisors, you will have access to all the traditional funding options offered in the marketplace, in addition to unique capabilities offered nowhere else in the marketplace.  Newcleus currently services over 750 financial institutions, representing over 45,000 individual policies with $12 billion in cash value assets under administration.