May 26, 2022
The Summit Federal Credit Union (The Summit) scored in the top quartile of midsize employers who participated in Gallagher’s 2021 Benefits Strategy & Benchmarking Survey. The Summit was recognized as an organization that provides innovative solutions for creating organizational structures, workplace policies and total rewards, which inclusively engages and motivates its employees.
For the second year in a row, The Summit has been awarded a “Top Workplaces” honor by the Rochester Democrat & Chronicle. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The anonymous survey uniquely measures 15 culture drivers that are critical to the success of any organization: alignment, execution, and connection, to name a few.
“Companies need to authentically represent their brand to job-seekers,” said Eric Rubino, Energage CEO. “The employee experience needs to be on the mission-critical list. Leaders who embrace a people-first culture will benefit greatly. By giving employees a voice and showcasing their authentic culture through employer branding, organizations can attract those job seekers who complement their culture. Culture drives performance.”
The Summit was also named a “Best of the Best” award winner in the annual Member XP awards. This marks the 2nd year in a row that The Summit has been recognized. This year, the credit union has won in three categories: Best Loan Experience, Best Online Banking Experience, and Best Transaction Experience, based on 2021 performance measures.
“The Summit is committed to giving our members the best possible experience and most reliable service,” said Laurie Wiest, The Summit’s Chief Engagement Officer. “These awards are a testament to the amazing employees that we have working here.”
Gallagher’s Best-in-Class Benchmarking Analysis profiles statistically significant attributes of top-performing midsize (100-999 FTEs) and large employers (1,000 or more FTEs). Data from Gallagher’s 2021 Benefits Strategy & Benchmarking Survey was interpreted to identify participants that excel in optimizing employee and organizational wellbeing. The Summit was assigned points based on their relative performance in planning horizons for the benefits and compensation strategies; extent of their wellbeing strategy; turnover rate for full-time equivalents; completion of a workforce engagement survey; use of an HR technology strategy and its level of sophistication; health plan premium increases or decreases at the most recent renewal; and use of a communication strategy.
“The Summit takes a proactive and structured approach to planning, developing and implementing comprehensive benefits and HR programs, which is essential in today’s war for talent,” said William F. Ziebell, CEO of Gallagher’s Benefits & HR Consulting Division. “In doing so, The Summit is able to set its employee value proposition apart from the competition, which allows them to better attract, reward and retain their talent.”
MemberXP’s prestigious “Best of the Best” award is granted each calendar year to credit unions that have consistently provided exceptional member service. Only one in five of the highest performing credit unions utilizing the Member XP platform are given this honor. The Best of the Best award is independently granted by MemberXP based on specific criteria, including ease of use and member service.
“The exceptional level of member engagement is a direct result of our employee cultural here at The Summit,” commented Wiest. “We have one of the highest employee retention rates in the industry, and truly care about our employees, helping them to achieve personal and professional goals. Our Summit representatives radiate that sense to our members, imbuing confidence in our products, and in The Summit as a leading financial institution.”