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CU one of 10 companies in nation honored for benefits
TEXARKANA, Texas (8/27/10)--Red River FCU is one of only 10 growing companies to earn national honors for its benefits offered employees, according to the Texas Credit Union League. An independent panel of employee benefits experts named the Texarkana, Texas-based credit union as one of the 2010 winners of The Principal 10 Best Companies for Employee Financial Security, citing the credit union's exceptional retirement benefits and its wellness program (LoneStar Leaguer Aug. 26). "Red River CU faces the same challenges as other businesses. What makes them extraordinary is the priority they place on employee financial security," said Luke Vandermillen, vice president of The Principal Financial Group. He noted the more than $452 million asset credit union did not cut benefits and will soon offer full-time benefits to employees working at least 30 hours a week. The credit union understands the direct connection among "strong benefits, a strong workforce and a strong bottom line--in the best and worst of times," he added. Red River has 100% participation in its 401(k) plan and offers an employer match that can be as high as 7.5% of the employee salary. It also adds another 3% for profit sharing. "That shows their real commitment to financial security," said Deborah Hall-Pope, a judge, and chief human resources and organizational services officer at ASCD, which was a 2009 winner. "We believe that our benefits are one of the hallmarks of the organization, even in these difficult times," said Robert Buck, Red River's president/CEO. "We have not taken away any of our benefits as a result of the economy--we didn't want our employees to suffer. We have actually tried to step up our benefits in some ways," he added. The Principal sponsors the program, which is in its ninth year. It will publish a summary of best practices of the winners, which will be available in January on its website at www.principal.com/10best. The credit union was the only financial institution among the winners.


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