Boost Earnings. Recapture Expenses. Achieve Goals.
The Experts at IZALE, show Credit Unions how!
As many credit unions continue to revise budgets for 2020 to reflect drops in income that could possibly stretch into 2021, one target for budget tightening may be compensation and benefits, as they can be one of the larger expenses. IZALE has worked with clients to increase earnings and reduce expenses over the past few months.
EXPERTS FOR YOU
IZALE will evaluate existing or potential benefit plans and their forecast performance and P&L impact. We will review the pros and cons of each option so you can objectively determine which one is best for you. Our expertise will enable you to keep a focus on both your bottom line and taking care of people. Read on for examples of how IZALE has recently helped clients address earnings, expenses and valuing their people.
BOOST EARNINGS
Client A used Business Owned Life Insurance (BOLI) for several years to offset employee benefit costs. With deposits up, loan demand tempered, and traditional yields down significantly, they allocated additional money to BOLI and immediately boosted earnings by over $140,000.
RECAPTURE EXPENSES
Client B had a 457(f) for several executives. Together, we evaluated the merits of continuing that plan vs. using a split-dollar loan structure, deciding the latter met their objectives. The client recaptured more than $5 million of expense while offering more net cash flow to executives.
ACHIEVE GOALS
Client C wanted to retain senior executives. After quantifying the benefit, the board and CEO, evaluated 457(f), split-dollar loan, and Restricted Executive Bonus Arrangements (or REBA), and decided that a combination 457(f) + REBA would achieve their goal.
EXPERTS FOR YOU
IZALE will evaluate existing or potential benefit plans and their forecast performance and P&L impact. We will review the pros and cons of each option so you can objectively determine which one is best for you. Our expertise will enable you to keep a focus on both your bottom line and taking care of people. Read on for examples of how IZALE has recently helped clients address earnings, expenses and valuing their people.
BOOST EARNINGS
Client A used Business Owned Life Insurance (BOLI) for several years to offset employee benefit costs. With deposits up, loan demand tempered, and traditional yields down significantly, they allocated additional money to BOLI and immediately boosted earnings by over $140,000.
RECAPTURE EXPENSES
Client B had a 457(f) for several executives. Together, we evaluated the merits of continuing that plan vs. using a split-dollar loan structure, deciding the latter met their objectives. The client recaptured more than $5 million of expense while offering more net cash flow to executives.
ACHIEVE GOALS
Client C wanted to retain senior executives. After quantifying the benefit, the board and CEO, evaluated 457(f), split-dollar loan, and Restricted Executive Bonus Arrangements (or REBA), and decided that a combination 457(f) + REBA would achieve their goal.
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