Talk about TruGrocer Federal Credit Union.
Phyllis Adkins: TruGrocer Federal Credit Union is the only
federal or state credit union in the U.S. chartered specifically
to serve grocery industry employees and their families. Unlike
many other credit unions that are limited to select employer
groups and communities, TruGrocer’s unique charter allows
grocery companies to offer their associates a credit union
employee benefit without having to submit for federal or state
approval or be concerned with geographic limitations.
Since 1965, TruGrocer has maintained a solid history of supporting the financial needs of people in the grocery industry
and we understand challenges that are unique to the industry and industry workers. TruGrocer’s corporate partner, the
National Advisory Council (NAC), meets quarterly to provide
insight on issues important to grocery industry workers and
TruGrocer stays involved in the grocery industry through its
participation in the National Grocers Association (NGA), the
California Grocers Association (CGA) and numerous supermarket trade periodicals. TruGrocer’s partnership with industry supporters, such as FMS, also keep the Credit Union well
informed on industry related trends and issues.
What makes TruGrocer unique in the marketplace?
TruGrocer has stayed true to credit union principles and the
philosophy of “common bond.” While TruGrocer offers many of
the same financial services as a bank, we are not like a bank, nor
do we operate like a bank. We are proud of our commitment to
provide valuable financial services to grocery industry employees and their families, and we do not nickel and dime our members with outrageous fees.
TruGrocer typically beats the competition with regard to
its savings rates, loan rates, service fee rates and the number
of no-fee financial services. For example, TruGrocer checking
accounts have no minimum balance requirement; no monthly
service fee; no per transaction fee, which is a huge savings for
employees; and no fee to replace ATM/POS/debit card plastic.
By partnering with TruGrocer, you can help your employees
keep more of their hard earned money.
Another advantage to partnering with TruGrocer is that we
What else does TruGrocer offer the retail community?
will open accounts for retailer employees
considered “un-bankable,” giving them
another opportunity to establish good
credit and good credit habits. Plus, we
offer a cost effective alternative to “pay
day” lending—yet another way to help
employees keep more in their pocket.
There are many compelling reasons to partner with
TruGrocer. They include the opportunity to differentiate a company with a distinctive competitive advantage. TruGrocer is
committed to the grocery industry, unlike credit unions whose
membership is open to everyone who works or lives in a designated geographic area or works for a specific company.
Plus, marketing materials can be co-branded at a retailer’s request and we can strengthen a merchant’s image as an
“employer of choice.” TruGrocer will open accounts for employees deemed “un-bankable” by other financial institutions due
to past credit problems. We can also enhance the value proposition of your employee benefits package—offering a credit
union is a great employee benefit, at no cost to employers.
Will this attract better employees to a company?
Yes, and in many ways. For example, we provide free and cost
effective financial products and services to employees under-served by traditional banks and many credit unions. That
increases employee loyalty, productivity, efficiency and effectiveness by reducing financial stress—employees get along
better with co-workers and treat customers better.
What does TruGrocer do for retailers?
Our programs save time and money by eliminating “payroll”
cards—direct deposit to TruGrocer, with an ATM/POS/debit
card, is all employees need. If their card is lost or stolen, they
work directly with TruGrocer for free card replacement, saving
time for administrative staff. We have you covered. If a payroll
error is made, we work directly with you and your employees to
resolve issues and minimize employee inconvenience.
WITH PHYLLIS ADKINS
TruGrocer Federal Credit Union provides financial services to
grocery industry employees and their families, says Phyllis Adkins,
president/CEO of the company.
GHQ TALKING SHOP