ANN ARBOR, Mich. — The University of Michigan Credit Union said it is expanding its employee benefits program with a series of new and enhanced fully paid leave policies designed to support workers during major life events and personal hardships.
The credit union said the new policies provide paid time off for employees welcoming children, caring for family members, recovering from personal crises, grieving losses and taking extended time to recharge after years of service.
“Caring for our team is at the center of our organization’s purpose,” UMCU President and CEO Tiffany Ford said in a statement. “We want to be sure that our team knows that we value and support each of them. Life doesn’t pause when someone welcomes a child, faces a personal crisis or experiences a loss.”
The Benefits
According to UMCU, the new benefits include:
- Parental leave: 12 weeks of fully paid leave following the birth, adoption or foster placement of a child.
- Personal crisis leave: Four weeks of fully paid leave for employees experiencing a significant, unexpected life event.
- Sabbatical leave: Fully paid time away for long-term employees seeking an opportunity to rest and recharge.
- Caregiver leave: Four weeks of fully paid leave to care for an immediate family member facing a serious health condition or end-of-life situation.
- Bereavement leave: Up to 20 fully paid days off following the death of an immediate family member.
Ford said the new policies are intended to provide employees with peace of mind during challenging or significant moments in their lives.
“It’s our responsibility, and our honor, to take care of our team,” Ford said. “Our new time-off policies provide meaningful support when life matters most, giving team members peace of mind during significant moments.”
‘Beyond Traditional Leave’
UMCU Chief Human Resources Officer Erica Botka said the credit union sought to create benefits that go beyond traditional leave programs.
“We challenged ourselves to think differently about what would truly support our team members, and what it would look like,” Botka said in a statement. “The result is a powerful, innovative benefits package that gives our team the security they need during critical life events.”
Prior to the changes, employees who required extended leave could arrange time away from work but often had to rely on accrued paid time off and, in some cases, take unpaid leave when their available hours were exhausted.
Under the new policies, employees can take time away from work to care for loved ones, recover from personal hardships, grieve family losses or welcome a child without facing a loss of income, the credit union said.
Heal, Grieve, Care
“Now, team members can take the time they need to heal, grieve, care for loved ones, or welcome a new child without the added stress of financial uncertainty,” Ford said. “We deeply trust, value, and support our team members. These policies reflect our purpose in action.”
Founded in 1954, the University of Michigan Credit Union serves nearly 123,000 members. The credit union has approximately $1.4 billion in assets and operates about 20 locations across southeast Michigan, according to UMCU.
