Bank-Fund Staff Federal Credit Union

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Bank-Fund Staff Federal Credit Union Reviews

Updated Jun 5, 2014

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2.5 24 reviews

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Eli Vazquez


35% of employees recommend this company to a friend
24 Employee Reviews
Relevance Date Rating
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    It is a good entry level position, but limited growth opportunities

    Anonymous Employee (Current Employee)

    ProsThere are great benefits. For example 5 Weeks Vacation

    ConsThere is limited growth opportunities.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Micromanagement at its best

    Anonymous Employee (Current Employee)

    ProsOne word ... BENEFITS! 20+ days vacation when you're hired.

    ConsNo flexibility in work hours ... you have to be at work at 8 AM and you have to leave at 4:30 PM. Need time off to participant in a child's school event? You have to take vacation time. Micromanagement at its FINEST! Directors, General Managers, and Supervisors got their positions by being there ... in other words, the most qualified individuals do not get opportunities ... rather, if you've been there since dirt, you get the job. No thinking outside of the box ... response is always "We're a credit union ... this is the way we have always done it. Do it our way or get on our bad side." Managers consider different ideas/innovation as someone questioning their authority. Employees do what they're told when they're told to do it. If you have nothing to do, don't say anything! Why? It creates more work for your supervisor ... as he/she has to find your something to do. It's better to just sit at your cube and look like you're doing something. Lots of over-qualified and unqualified people work here. Stress is beginning to build as the new CEO is trying to change things ... but it is slow progress. Employees are being told we have an activist board of directors that just wants to cut ... cut ... cut ... to provide more returns to the members. Not a bad thing ... but it creates a bad image in the minds of employees when it comes to the board of directors. Exceptions for everything ... not consistent when it comes to policy and procedure. Too much CYA!

    Advice to Senior ManagementHard decisions need to be made and need to be made quicker. Many individuals are still here that should be gone. Start making the personnel decisions everyone knows need to be made. Encourage new ideas and innovation. Stop allowing individual business units to run the show. Seriously, a three-branch operation has over 15 individuals in Risk Management!!!! Get rid of folks who throw up roadblocks to progress. Special note to the new CEO ... Think all your direct reports are onboard? Think again. They're working behind the scenes to prevent you from making the appropriate changes ... just like they did with the former CEO.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Corruption at its best

    Member Services Representative (Former Employee) Washington, DC

    ProsMy colleagues were great! It was nice to work in an international environment and learn about different cultures.

    ConsManagement, including HR, actively prevent those who are not the favorites from moving up within the company.

    Advice to Senior ManagementWhat goes around, comes around.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

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    One Way Communication

    Account Service Representative (Current Employee) Washington, DC

    ProsThe benefits are very nice, particularly the insurance and the time off. Also, there are a number of people at Bank-Fund who still care. Sadly, many are leaving or planning to leave.

    ConsOppressive atmosphere, intimidation tactics, no real concern about the employees, management does not want to hear new ideas or suggestions for improvement

    Advice to Senior ManagementGet new management... maybe some people who care. Also, if there is a strategic plan, employees should be able to contribute to it, or at least hear it. At a minimum, management should be living the plan. Company values? They are just words

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    It's a trap

    Anonymous Employee (Current Employee)

    ProsThe traps, I mean benefits: 26 days vacation, 15 days sick leave, 401k contribution up to 12%; and a diverse work force.

    ConsLack of Growth: After reaching level 2, opportunities to grow vanishes. When management level position opens, staff are often told they do not meet minimum qualifications. When staff requests management level training or seminars, requests were denied or redirected to lower level because high level training programs are for managers. It's a vicious cycle that limits staff growth professionally, and also exaggerates the next issue: management.

    Management: Most senior level managers have been with company for over 10, 15, and some over 20 years. While we don't know how they get the positions they have, they do not have the drive to implement new initiatives, if there are any new initiatives. New programs typically fails due to management's failure to fully develop it, its associated procedures, create buy-in with staff, and clumsy execution. Another issue that permeates all levels of company is lack of succession planning (see Lack of Growth). Board of Directors took 1.5 years to find a replacement for a departed CEO. For mid-level managers, the position usually sits vacant for 2 to 3 months before it's filled, and in recent times mid-level managers have been outside hires (see Lack of Growth again).

    Board of Directors: This is a credit union and credit union members are its owners and board members are elected within this group. This Board takes 'protecting ownership interests' to heart. Members who are denied for exceptions usually writes to the Board to complain. The Board then passes the complain to senior management, then senior management to departmental management. By the time it gets to departmental level managers, they just want to get rid of the complaining members by giving them what they want, often regardless of US compliance and regulations. This is all done in the name of providing superior service and heighten member satisfaction. What the Board, and management, fails to recognize that members are not accustomed to US banking system and financial laws, and following laws in general. Instead of bending to member wills, they need to take a stand and educate members.

    Office Politics: Yes, it's everywhere and in every office. However, this place has the worst politics on display of all places. Staff would be hired for specialized positions with no experience even though job description clearly stated so, and applicants with the necessary experience were not even selected for interviews. When inquired about which minimum qualifications they do not meet, the answers are usually trivial and some even resorted to point out minor spelling mistakes on cover letters and resumes. To get ahead within this organization, staff need to be in the "In." Otherwise regardless of experience and educational background, there is no opportunity for advancement (see Lack of Growth again, again).

    Advice to Senior ManagementGet a new crop of senior management for fresh ideas, initiatives, and industry insights. Invest in staff to make them feel appreciated and give them opportunities to grow. There are a lot of young, bright, driven, and well educated people working here. Don't drive them away.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Member Services Representative

    Member Services (Current Employee) Washington, DC

    ProsMany days off, great poeple to work with

    ConsNo chances to advance and grow within the company

    Advice to Senior ManagementStop micro-managing

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    They wait for you to mess up

    Anonymous Employee (Current Employee) Washington, DC

    ProsBenefits, somewhat laid back environment.

    ConsThere is a department that sends out "activities" when we make an error. An activity is something sent internally to the person that made an error and copied to all the managers. These activities count against us on our employee reviews and progress report. Activities could be sent for errors as small as not crossing a t or dotting and I. The department that sends the activities do not attempt to fix them themselves, they just send them to the employees and make them fix it.

    Advice to Senior ManagementDo you see the problem here? You pay people to wait for us to mess up. That's all they do. Why don't you pay them to fix our errors, at least. Or maybe have them send us an email/call that does not have to be sent to all of our managers.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    My overall experience was ok

    Communications Associate (Former Employee) Washington, DC

    ProsStable market, good job security

    ConsBad management, no chance for growth

    Advice to Senior ManagementListen to the employees more

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Held multiple positions

    Member Services Representative (Former Employee) Washington, DC

    Pros26-30 personal days, paid Holidays and paid Sick days
    Located near Metro
    A lot of different nationalities

    ConsGrow potential is limited
    Hire from outside
    Training is limited due to under staffed departments

    Advice to Senior ManagementBetter pay and don't skim on a few dollars that keep your employees loyal

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Great Place to Work

    Supervisor (Former Employee) Washington, DC

    ProsMortgage Interest Subsidy
    Employer contribution to pension plan account up to 6% after certain seniority
    Tuition Reimbursement $5,000 per year
    Preferred Provider Organization (PPO) Health Insurance
    Vacation time up to 30 days per year
    Annual Sick Time up to 15 days per year
    Transportation Aid up to $1000 per year
    Great multicultural environment
    Work with world class clientele
    Overall is a good placed to work when compared to its peers

    ConsSmall staff with few opportunities to promote
    Certain departments work under a lot of stress
    Little incentives for qualified employees stay

    Advice to Senior ManagementReduce pressure on stressed areas

    Yes, I would recommend this company to a friend

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