CUES 153: Executives and CUs Can Win the Financial Game Together
CUES Podcast
English - November 02, 2023 06:00 - 25 minutes - 17.9 MB - ★★★★ - 8 ratingsBusiness News Business News cues credit union professional development financial organization banking www.cues.org ceo board of directors directors executive Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Chris Jones and his team have formed a new company named to represent well what they do. Jones is a senior benefits consultant and partner in PARC Street Partners. PARC stands for plan, attract, retain and compensate—all key elements of the company’s work to help credit unions create a succession plan, attract, retain and compensate key executives so that both the executives and the credit union “win the financial game.”
In the end, he says in the show, the credit union’s members win too.
“If the credit union is winning the financial game, the executive should win the financial game,” he says. “And as the result of those two, ultimately, keeping the member in the center, … the member is winning the financial game. When the organization is healthy and moving forward, the member is winning.”
PARC Street Partners specializes in helping credit unions, executives and boards put in place supplemental executive retirement plans so that everyone can win the financial game together. But in the show, Jones emphasizes that SERPs are just part of the larger succession planning picture.
“Succession planning is a process,” he explains. “It’s not a SERP. The SERP is a tool that is used to support the process. The succession plan should stand in and of itself, on its own. … And then the question is, do we need a SERP to support that? We think often you do, but the plan should stand on its own.”
The show also gets into:
Links for this show:
PARC Street PartnersArticle Bruce Smith of PARC Street Partners: Turn Your Credit Union’s SERP Liability Into Net Income CUES Unlimited+ member video featuring Chris Jones: A Myth Boards Hold About Supplemental Executive Retirement PlansBecome a CUES Supplier memberDownload a transcript