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.