|
Credit Unions – Providing “peace of mind” to their members
Tuesday, Jun 23, 2015 - Posted by Advertising Department [The following is a paid advertisement.] During some extremely challenging financial times facing consumers, one bright spot in the financial services arena has been credit unions. Credit Union 1 is a shining example of how one credit union serves its membership through good times and bad. In 1995, Credit Union 1 introduced an “Employee Loan Assistance” program designed to provide payroll gap assistance for its members facing the threat of a missed or delayed paycheck. In June 2007, this program was utilized for the first time to assist state employees that incurred a delayed paycheck due to the Illinois budget crisis that occurred. Most recently, Credit Union 1 offered the program to their members of the Illinois General Assembly and staff to assist during an interruption in the legislative payroll cycle. While fortunately this program has only been needed on a limited basis since its inception, Credit Union 1 members are afforded great comfort and security in knowing that their credit union is there for them whenever the need arises. Credit unions are “People Helping People” — dedicated to serving the needs of their membership as well as providing “peace of mind” that the credit union is always there. And that’s the credit union difference.
Comments Off |
|
The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight
Tuesday, Jun 23, 2015 - Posted by Advertising Department [The following is a paid advertisement.] In 2011 the Workers’ Compensation “Reform” package was signed into law, aimed at lowering costs for employers in Illinois. These changes have had a negative effect on workers in Illinois and their ability to receive fair and reasonable compensation when they are injured on the job and have not resulted in insurance premium reductions for employers in Illinois, even though workers’ compensation costs have undeniably come down. The National Academy of Social Insurance reports workers’ compensation is the second most profitable line of insurance after auto insurance. Over 300 insurance companies compete for and write workers’ compensation insurance in Illinois, more than just about any other state in the country. If Illinois is so unprofitable, why are these insurance companies climbing over one another to sell insurance here? It may be because insurance companies in Illinois are essentially unregulated when it comes to setting insurance premiums. Decreased benefits for injured workers, medical reimbursements plummeting, claims falling, and reduced costs have all resulted in big profits for the insurance industry. This is the real result of the 2011 workers’ compensation reform. Any further changes in workers’ compensation laws should instead look to promote insurance premium transparency and oversight – not further sacrifices by the injured worker. For more information on workers’ compensation, click here.
Comments Off |
| « NEWER POSTS | PREVIOUS POSTS » |
