Members 1st Federal Credit Union Recognized for Outstanding Commitment to Valued Associates
ATLANTA, GA – July 15, 2021 – OneDigital Investment Advisors “OneDigital,” a registered investment advisor focused on corporate retirement plans with over $70 billion in assets under advisement, today announced that its customer, Members 1st Federal Credit Union, has been named the winner of the 2021 PLANSPONSOR Plan Sponsor of the Year in the Corporate 401(k) >$50MM-$150MM category.
PLANSPONSOR’s annual Plan Sponsor of the Year award program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success. The 2021 awards had nine categories to allow for the most accurate comparisons across plan types and sizes. Members 1st was profiled for its 86.6 percent participation rate among all employees and 200 percent of up to 5 percent employer contribution rate.
I cannot think of a more well-deserved recipient for this award than Members 1st Federal Credit Union. With a client base of over 25+ credit union customers across the nation, it's an honor to work so closely with a credit union whose leadership is as dedicated to the continued wellbeing of their associates as the Members 1st."
— David Hinderstein, Senior Vice President OneDigital's Retirement + Wealth
After a series of cultural and rebranding efforts at the organization, Members 1st was inspired to rethink its retirement plan. This included the termination of its long-standing defined benefit (DB) plan and moving to a defined contribution (DC) plan. The change enabled them to deliver more than just a retirement savings plan but a financial wellness platform that provides participants the opportunity for true financial health.
“As a credit union, we’re really focused on our three-legged stool, and that’s composed of our associates, our community and our members,” says Sara Kennedy, Senior Vice President of Associate Experience at Members 1st. “Our partnership with OneDigital was instrumental in developing solutions to increase engagement and enrollment in the plan further. We are looking forward to continuing our efforts with the development of programs that emphasize mental health and its relationship to financial health.”
Daniel Casella, a senior retirement plan consultant for OneDigital, commented, “Winning a Plan Sponsor award against such substantial competition is the result of hard work by many to increase the Credit Union’s employee’s financial wellbeing.”
In addition to this accolade, seven OneDigital Retirement + Wealth customers have received Plan Sponsor of the Year awards from 2012-2021, with an additional four customers receiving finalist designations. Recent Plan Sponsor of the Year award recipients include Dealertrack (2016), Searles Valley Minerals (2017), Nu Skin Enterprises (2018), and Centre Lane Partners (2019).
OneDigital is the nation's leading health, retirement/wealth, and HR advisory firm focused on empowering business growth for employers of all sizes, and has consistently led as a workplace ally for over 20 years. OneDigital's unique ability to converge health, wealth and human resources into a hub of services and business guidance has empowered companies to create workplaces that attract and retain talent while fueling innovation and company growth. As employee health care, wellness and workplace benefits continue to shift, companies of all sizes have relied on OneDigital's exceptional advisory teams for counsel and its adjacent services, including employee benefits, holistic HR services, employee wellbeing and pharmacy consulting, as well as the retirement and wealth management services provided through OneDigital Investment Advisors. Headquartered in Atlanta, OneDigital's more than 100 offices and 2,400+ business strategists serve the needs of over 85,000 employers across the nation.
OneDigital has been named to the Inc. 5000 List of America's fastest-growing companies every year since 2007, one of only 11 companies to do so and is currently listed as 18th on Business Insurance's list of 100 Largest U.S. Brokers. For more information, visit www.onedigital.com.
PLANSPONSOR, with its reputation for editorial integrity, objectivity, and leadership, is the trusted information and solutions resource for America’s retirement benefits decision makers. With its powerful array of customer-driven marketing programs, PLANSPONSOR offers industry providers an unparalleled ability to reach this influential audience. With all of the changes within the retirement industry, plan sponsors and advisers rely on PLANSPONSOR magazine to help them stay informed of crucial issues and important new innovative solutions.
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