Bank-Fund Staff Federal Credit Union
2.5 of 5 21 reviews
www.BFSFCU.org Washington, DC 150 to 499 Employees

Bank-Fund Staff Federal Credit Union Reviews

Updated Apr 3, 2014

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2.5 21 reviews

                             

17% Approve of the CEO

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George W. West

(6 ratings)

39% of employees recommend this company to a friend
21 Employee Reviews
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  • Culture & Values
         
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  • Senior Management
         
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  • No Opinion of CEO

 

Member Services Representative

Member Services (Current Employee)
Washington, DC

I have been working at Bank-Fund Staff Federal Credit Union full-time for more than 5 years

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

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One Way Communication

Account Service Representative (Current Employee)
Washington, DC

I have been working at Bank-Fund Staff Federal Credit Union full-time for more than 5 years

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

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It's a trap

Anonymous Employee (Current Employee)

I have been working at Bank-Fund Staff Federal Credit Union full-time for more than a year

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

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They wait for you to mess up

Anonymous Employee (Current Employee)
Washington, DC

I have been working at Bank-Fund Staff Federal Credit Union full-time for more than a year

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

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My overall experience was ok

Communications Associate (Former Employee)
Washington, DC

I worked at Bank-Fund Staff Federal Credit Union full-time for more than 3 years

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

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Held multiple positions

Member Services Representative (Former Employee)
Washington, DC

I worked at Bank-Fund Staff Federal Credit Union full-time for more than 5 years

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

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Great Place to Work

Supervisor (Former Employee)
Washington, DC

I worked at Bank-Fund Staff Federal Credit Union full-time for more than 3 years

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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Served its purpose.

Communications Associate (Former Employee)
Washington, DC

I worked at Bank-Fund Staff Federal Credit Union full-time for less than a year

ProsGreat benefits, one hour lunches (unless required to work through lunch which can happen often), nice location in D.C.

ConsTreatment of employees by management

Advice to Senior ManagementLearn what motivates employees and take a real interest in them - a cared for employee makes a more loyal employee.

Yes, I would recommend this company to a friend

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Six Weeks Vacay!!!

Anonymous Employee (Former Employee)

I worked at Bank-Fund Staff Federal Credit Union full-time for more than a year

ProsThe six weeks vacation is an awesome benefit to this company. The staff was not bad depending on the department. If you stayed out of sight out of mind and didn't bring too much attention to yourself you can last long enough to move on. Great way to make connections and get a job in the World Bank if that's what you interested in.

ConsAnnoying members, disgruntled employees, and unproductive management. Management changed up policies like one changes their undergarments. Very high turnover. Mainly because people were always being fired but on the upside to that they was always room for growth.

No, I would not recommend this company to a friend

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Many of my colleagues were great, the management staff is corrupted and toxic to the CU environment.

Communications Associate (Former Employee)
Washington, DC

I worked at Bank-Fund Staff Federal Credit Union full-time for more than a year

ProsThe diversity of the staff is very culturally stimulating. It is hard to find a US company that gives that much vacation time. Insurance benefits are excellent.

ConsAlthough there is a lot of vacation time, it was frequently refused when requested (at least in the Communications Center).
The management can be extremely incompetent and seems to have been given a management position based on who they knew or what connections they had to the former CEO.
Employees are currently being fired at an alarming rate, many without questionable basis or possibly due to the fact, and I quote, that some very upper management "does not like the way you look". Current employees are walking on pins and needles wondering who will be the next to get fired.
There is poor communication from management. The CU is unrecognizable in regards to what it was before 2005 and when Mr. West was acting CEO at that time.

Advice to Senior ManagementLearn to act professionally. Practice what you preach. Have the decency to inform current employees about some of the major changes that are going on so that they are not afraid to come to work everyday expecting to be fired for who knows what reason. The CU has some very good employees and they are not being recognized for their worth. Clean out upper management and start with a clean slate. The corruption is bone deep---ask your current employees.

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

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Glassdoor is your free inside look at Bank-Fund Staff Federal Credit Union reviews and ratings — including employee satisfaction and approval rating for Bank-Fund Staff Federal Credit Union CEO George W. West. All 21 reviews posted anonymously by Bank-Fund Staff Federal Credit Union employees.