BIRMINGHAM, Ala.—Credit union consulting firm Dollar Associates has announced a strategic partnership with TRISCEND, LLC, a provider of executive benefit, compensation and succession planning for credit unions and other not-for-profit organizations.
Dollar Associates said it will assist TRISCEND in regulatory matters and product development specific to the credit union market, according to Dale K. Edwards, co-founder and principal of TRISCEND. Dollar Associates is headed by former NCUA Chairman Dennis Dollar, principal partner, and former NCUA Chief of Staff Kirk Cuevas, co-founder and partner.
“Dollar Associates has been looking for executive benefits expertise specific to not-for-profit organizations like credit unions and is very pleased about our new strategic alliance with TRISCEND,” said Dollar. “Too many of our clients have gotten caught up in benefit plans that miss their mark in meeting the long-term needs of credit union executives in the competitive market. Some of these plans have also created growing funding liabilities that have crippled some credit union balance sheets and many of them are just not a good fit for a not-for-profit entity.
“We wanted to find a partner that understood the not-for-profit sector and was able to tailor executive benefit programs that met regulatory requirements, balance sheet needs and the demands of credit unions to recruit and retain the best and brightest talent as they continue to grow,” continued Dollar. “The desire of our clients for better benefit plan options, paired with the increased scrutiny of regulators on credit union investment and asset allocations to employee benefit plans, drove us to seek the expertise of TRISCEND in this area.”
Dollar said the company’s research found their client base is almost exclusively not-for-profit organizations – a totally different model than the “one-size-fits-all plans.”
“They truly understand the importance of educating both the credit union and its key employees on how to plan and maintain growth for the future while transforming expenses into assets and aligning capital and talent incentives with credit unions’ long-term stated purposes,” said Dollar about TRISCEND. “The solutions of TRISCEND have been well-received by many not-for-profits, including credit unions, for meeting the often-conflicting needs of the institution, the market, the balance sheet and the regulators.”
“We could not be more pleased that Dennis, Kirk and the Dollar Associates team have agreed to partner with our company,” said Robert Gutherman, co-founder and principal of TRISCEND. “Dennis is among the most respected leaders of the American credit union movement today. With Kirk’s background as an attorney and a credit union leader in his own right, Dollar Associates has really demonstrated a focused vision for leading credit unions with tomorrow in mind. This is a vision that aligns perfectly with how our work contributes to a credit union’s ability to retain and develop key leadership, which is critical for both the credit union and the future of its members.”
Edwards noted that TRISCEND serves credit unions and their executives across the nation.
“Our relationship with Dollar Associates will provide TRISCEND with additional compliance and regulatory resources as well as expertise to further our ability to provide the world-class products and services we deliver to our credit union clients,” said Edwards.
Dollar said that his company is a growing desire and a growing need among its credit union clients to become much more sophisticated in their decision-making processes at both the executive and board level about executive benefits and “doing it right.”
“The TRISCEND model is well tailored for not-for-profits like credit unions,” added Dollar. “We want to help them structure their model even more fully into the best possible fit for credit unions, their executives, their recruitment and retention needs, their balance sheets and their upcoming examiner reviews,” said Dollar. “Even the new tax law comes into play in this arena and needs to be accommodated. Structuring these programs specifically for the not-for-profit sector is an exciting possibility that we feel can help a lot of credit unions.”