TriscendNP specializes in working with credit unions to design executive benefit programs that allow the organizations to maintain a stronger balance sheet by transforming an expense into an asset.
Credit unions play a critical role in ensuring a fair, transparent, and competitive marketplace for consumer financial products and services. Managing expenses is of paramount importance to their mission and organizational well-being.
The TriscendNP Secured Split Dollar Program benefits credit unions by taking an innovative new approach to meet the goals of executive retention and a healthy financial statement. By designing and implementing a customized plan that does not create a liability for the credit union, the program’s design allows for the recording of assets in the first year of implementation. The net result is the retention of key talent and a return of capital plus accrued interest in the future to the organization. The program is flexible and can work either in concert with, or as a replacement to, existing plans.
- Enhanced balance sheet treatment; transforms what has traditionally been an expense into an asset
- Unique design and program efficiency often requires less capital from the institution while maintaining the desired level of incentive for the employee
- Institutional capital investment is returned, which can include interest
- Demonstrates more responsible stewardship of financial resources and support of the institution’s longer-term mission
- Affords more favorable Form 990 reporting
For additional information or to request a complimentary consultation to discuss the benefits of the TriscendNP Secured Split Dollar Program for your organization, please contact us.
Secured Split Dollar is a service mark of TRISCENDNP.