Center for Companies that Care Lists Baxter Credit Union on Honor Roll
March 18, 2010Vernon Hills, ILBaxter Credit Union (BCU) has earned a spot on the list of companies recognized by The Center for Companies That Care, a national, not-for-profit organization dedicated to enhancing the well-being of employees and communities. Being named to its Honor Roll for the 6th consecutive year is a privilege for BCU.
Honor roll recipients are chosen for their dedication to improving the quality of life not only for their employees, but for members of the greater community as well. Additionally, those companies who earn this prestigious title adhere to 10 specific attributes inherent to a "Company That Cares." Sustaining a work environment founded on dignity and respect, cultivating the full potential of all employees, and becoming involved in community endeavors or public policy, are among those characteristics.
To those ends, BCU strives for continual improvement by raising the bar each year. With employees surveyed input, BCU accomplished the following in 2009: An improved engagement score surrounding career development, a communications campaign to members on the topic of BCUs safety and soundness amidst an uncertain banking industry, a more engaging performance management system, and a score of 67 over a peer groups 54 using Net Promoter Score, a measurement of member satisfaction and loyalty. Additionally, BCU donated $123,000 and logged more than 1500 employee volunteer hours to over 30 agencies/events, such as The Relay for Life, The Angel Tree of Giving, and The Multiple Myeloma 5K. BCU also recognizes employee initiatives through the distribution of Best In Class awards, Cuffs Awards (fraud detection), and AIM Awards (quality suggestions). Traditions such as face-to-face meetings between department employees and the CEO, summer barbeques, and Halloween Havoc keep employee spirit alive.
Additionally, BCU demonstrated its commitment to improving the lives of its members and the community at large with several educational initiatives designed to help consumers through these bleak economic times. Among these were seminars such as Secrets from a Corporate Recruiter, Are we in the Recovery Stage? and The Stimulus Package and Housing Bailing Update. Other programs and actions included a membership advantages campaign, a new financial resource center, loan modification programs, an emphasis on mortgage lending amidst an industry that scaled back on mortgages, and more all positioned to insure that BCU remains a trusted financial partner for its members.
Internally, BCU created a cross-functional FIT team of employees charged with the duty of continuing to improve efficiencies, either by seeking out ways to control expenses or to increase revenue. Also, employees continued to have the opportunity to submit AIM ides (All Ideas Matter) to the AIM committee for review and potential implementation. In a tough economic year, the team stepped up their efforts to communicate the value of employees suggestions and continued to award the best idea. BCU continued an overall low turnover rate of employees in 2009 and retained 100% of their high performing employees (based on performance reviews).
With over $1.4 Billion in assets, BCU currently serves more than 140,000 members throughout the United States and Puerto Rico. Formed in 1981 and headquartered in Vernon Hills, Illinois, BCU is a not-for-profit, member-owned credit union known for competitive rates, low fees, and state-of-the-art services. Membership is open to several prestigious companies around the country, as well as anyone who lives or works in select counties throughout the Chicagoland area.