The board of directors of each federal credit union has wide latitude in determining the credit union's dividend rate and terms. Benefits to sponsor organizations. A credit union is an important fringe benefit, according to various sponsor organizations. Credit unions do not require outside financial support so there is no direct cost to a sponsor, including any employer whose employees organize a credit union. Many employers, however, find credit unions so beneficial in maintaining employee morale and well-being that they gladly provide space on the premises to serve as a credit union office.
Employers often allow employees to direct-deposit their paychecks into a credit union account.
Credit unions pioneered this convenient innovation. Experience shows this simplifies deposit operations and encourages more employees to use credit union services. Many employers permit employees time to conduct credit union business, especially during the first few months of its operation. By using this site, you agree to our Terms of Service . Your privacy is important to us.