St. Paul’s Fed­eral Credit Union

As­sets: $164 mil­lion No. of Em­ploy­ees: 29 CEO: Thomas Glatt, Sr.

Credit Union Journal - - Special Report - St. Paul, MN www.stpaulfcu.org

FROM 2012 TO 2014, ST. PAUL’S FED­ERAL Credit Union had a se­ri­ous em­ployee turnover prob­lem, ex­plained EVP/ CFO/CIO Chris Petersen.

“We were con­stantly los­ing valu­able staff, which was ex­tremely costly in terms of re­cruit­ment costs, train­ing costs, de­clin­ing ser­vice lev­els and team­work,” he said.

In mid-2015, the credit union be­gan to tran­si­tion into an “em­ployee-cen­tric” cul­ture, in­clud­ing of­fer­ing a $15 per hour start­ing wage. There was also an in­creased em­pha­sis on “fit” and “core” val­ues in the hir­ing process.

“In the last two-plus years, we have re­duced over­all turnover, vol­un­tary and in­vol­un­tary, to four peo­ple, and one of them came back,” said Petersen. “As a di­rect re­sult of the cul­ture change, the credit union has also ex­pe­ri­enced very healthy growth dur­ing that pe­riod which has led to the hir­ing of five new po­si­tions.”

Con­tribut­ing to the em­ployee-cen­tric model, St. Paul’s FCU pro­vides a tu­ition re­im­burse­ment pro­gram of up to $1,500 per year for each em­ployee en­rolled in col­lege cour­ses that per­tains to the fi­nan­cial ser­vices in­dus­try.

“The credit union of­fers our staff the abil­ity to at­tend any train­ing that will ben­e­fit their po­si­tion within the credit union, or that will al­low them to pur­sue a new po­si­tion within the credit union, said Petersen. “Staff can re­quest train­ing op­tions from their man­agers.”

It’s not all work and no play at St. Paul’s FCU. There are many fun ac­tiv­i­ties that oc­cur out­side of the work­place.

“We host reg­u­lar em­ployee events, such as an an­nual baseball game out­ing where we take em­ploy­ees and their fam­i­lies and book a suite at the baseball game,” said Petersen. “We pro­vide a shut­tle bus, food and drinks, and ev­ery­one can just come out and have a good time.”

Founded in 1953, St. Paul’s Fed­eral Credit Union sup­ports three branches and more than 11,700 mem­bers.

Talia Jones, Mort­gage Loan Servicing Co­or­di­na­tor, en­joys St. Paul’s FCU spon­sored “Na­tional Night Out.” The CU hosts the event in its park­ing lot and in­vites the neigh­bor­hood to en­joy hot dogs, ham­burg­ers, shaved ice, bounce houses, karaoke, door prizes and a DJ.

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