Crane Credit Union Employee Benefits Summary

Pay Period

  • Employees are paid bi-weekly on the Wednesday following the pay period ending on Saturday.

Employment Categories

  • Full time employees are those regularly scheduled to work 36 or more hours per week.
  • Part time employees are those regularly scheduled to work less than 36 hours a week.
  • Part time employees who are regularly scheduled to work 30-35 hours a week are entitled to participate in the credit union’s insurance programs and paid time off programs at a prorated rate as outlined in the credit union board policy, but not specified in this summary.

Vacation Time

  • Full time employees vacation time is accrued and credited each pay period at the following rates:
    • Zero through fourth year—four hours per pay
    • Fifth through ninth year—five hours per pay
    • Tenth through fourteenth year—six hours per pay
    • Fifteenth and beyond—eight hours per pay.
  • 240 hours of vacation time may be carried from one leave year to the next.

Sick Time

  • Full time employees earn four hours a pay period.
  • There is no maximum accrual limit.

Holiday Pay

  • Full time employees are paid for 10 holidays.
    • New Year’s Day
    • Martin Luther King Day
    • President’s Day
    • Memorial Day
    • Fourth of July
    • Labor Day
    • Columbus Day
    • Veteran’s Day
    • Thanksgiving Day
    • Christmas Day
  • Part time employees are eligible for holiday pay if they work the last open day before and the first open day after the holiday.

Group Life Insurance

  • Premium is paid 100% by the credit union for full time employees.
  • Coverage is two times employee’s annual salary.
  • Effective first day of the month following full time employment.
  • Dependent Life Insurance coverage of $2,000 per dependent is paid for by employer

Medical Insurance

  • Available for full time employees
  • Carrier is Anthem Blue Cross/Blue Shield
  • Credit union pays 75% of premium, employee pays 25%
  • Effective the first day of the month following date of hire

Dental Insurance

  • Available for full time employees
  • Carrier is Delta Dental
  • Credit union pays 75% of premium, employee pays 25%
  • Effective the first day of the month following date of hire

Long-Term and Short Term Disability

  • Available for full time employees
  • Effective first day of the month following full time hire date
  • Funded 100% by credit union

Retirement Program 104(k)

  • Eligible to all employees six months from date of hire
  • Participants must be 18 years of age
  • Employee contributions are on pre-tax dollars unless a Roth deferral is selected
  • Vested after 3 years of service
  • Matching schedule:
    • 6 months to 3 years of service up to maximum of 5% of compensation
    • More than 3 years of service up to maximum of  8% of compensation
  • Compensation under the matching formula is the greater of the employee compensation or the median salary for CFCU

Employee Loan Discount

  • .5% discount on all new closed end loans
  • All employees eligible
  • Discount ends at termination

Miscellaneous Benefits

  • Tuition reimbursement, Casual Days, Incentive programs, On-the-Spot awards, Employee Appreciation weekend.