Recognition and rewards are an integral part of your Credit Union’s employee experience. It’s critical to get a platform that fits your company culture on the first try. Which is why we wrote this guide for credit unions looking to invest in employee recognition and rewards software.

The purpose of this buyer’s guide is to simplify the process of researching, finding, and choosing an employee recognition and rewards platform that works for your credit union’s needs.

Getting started

There are five major steps to finding the right program for your credit union:

Know why you’re investing  ID the need Show me the money (or, look at your budget and shop for value) Compare as much as you dare (or, evaluating value and cost) Ready, set, decide!

This guide breaks each of these down into easy-to-navigate sections, including clear directions, action items, and easy-to-use guidance to help your search move forward. In short, this recognition & rewards buyer’s guide gives your credit union the tools to save time and make an educated decision.

It’s also set up to help you get your whole team on board with this decision. It should give you the power to do the following three things:

  • Educate effectively. We’ll give you the data to make a clear business case for your investment — whether you’re talking to the CEO, CTO, CFO, or your HR team.
  • Budget bravely. We’ll help you look at your existing budget to see how it supports a comprehensive employee recognition and rewards program.
  • Shop savvy. You’ll get guidance on your shopping strategy with a step-by-step guide to the buying and evaluation process.

1. Know why your Credit Union is investing in employee Recognition & Rewards

If you lead a credit union, you know talent is your greatest asset. Employees are the ones delivering the member experience that drives loyalty and growth. Yet credit unions are struggling to keep top performers. The 2024 Wipfli State of Credit Unions Report shows that 46% of credit unions list employee recruitment and retention as a top concern.

Recognition and rewards programs give you a way to turn that challenge into an opportunity. When credit union employees feel seen, valued, and appreciated for their work, engagement rises. And engaged employees are more likely to stay, serve members well, and contribute to your credit union’s long‑term success. In credit unions and other member‑centric organizations, engaged staff deliver higher service quality and drive stronger member loyalty.

Appreciation is also one of the most effective everyday motivators. Glassdoor found that  employee recognition has the greatest impact on employee performance, and pairing it with a small reward makes the effect even stronger.

Investing in a recognition and rewards platform is a commitment to your people, your culture, and the member experience that sets your credit union apart.

Investing in the right platform is an investment in your credit union’s performance.

2. Identifying the need for an employee recognition and rewards program

For credit unions, a recognition and rewards program is a tool that can drastically improve employee performance, strengthen member service, and prevent the turnover that slows your organization down.

The first step in selecting the right platform is to understand why you need it. Do you want to solve an existing problem like disengaged staff or high turnover? Or are you trying to prevent future challenges by reinforcing a strong culture now? Clarity on the “why” will guide the entire buying process.

Use these questions to pinpoint your credit union’s needs:

What are some of your challenges that are affected by your employee experience? Which employee performance metrics would you change in your credit union? And by how much? What matters most to your employees? What gets them excited about work or life?

3. Examine your employee recognition and rewards budget

Once you understand why your credit union needs a recognition and rewards program, the next step is to look at your budget. A structured program does not have to mean spending more money. Often, it means using the resources you already have in a more strategic way.

Budgeting for recognition can feel confusing at first. You’re going to get questions about cost, terms, budget, and ROI. Your leadership team or board will likely ask three questions:

Which plans did you consider (and why?) How will you fund your plan? What metrics will you use to know if your plan is successful?

 

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Evaluating value and cost

In this section, we’ll walk you through two exercises. The first is a list of questions to ask each vendor to ensure you’re getting the best value as you determine the right choice for your company.

The second helps you evaluate the resources you have available to fund a new program.

Questions to ask each vendor

Terms of use
  • What functionality is included in the contract? What’s not included?
  • Is there a contract period? If so, how long are the commitments?
  • Is there a minimum reward spend per month, quarter, or year?
Pricing
  • What is the fee structure? What functionality is included? What’s not included?
  • Does the fee structure include things like software licensing fees, support fees, or convenience fees?
  • What is the markup structure for employee rewards?
  • Do the markups diminish the value of the rewards for your employees, or put a cost on non-monetary rewards?
  • Is there an extra fee for customization, like adding your own swag or changing your logo?
ROI
  • What reporting structures or analytics are included in this contract?
  • How much staff time will it take to administer this platform?
  • How easy is it to pull reports from this product?
  • Can you give me examples of how this product has helped others with my core needs? (e.g., retention, customer service scores, attendance, safety, etc.)

Funding your program

Most credit unions are already spending money and staff time on employee engagement. The difference is that much of it is unstructured, hard to measure, and often uneven across branches. A formal recognition and rewards program lets you use that same investment more effectively.

Start with a simple funding exercise:


1. Make an inventory of what you currently spend on engagement.
Include both money and staff time. Think about anything your credit union does to recognize, reward, or celebrate employees.

Common examples in credit unions include:

  • Service awards for milestone anniversaries
  • Branch or team “employee of the month” programs
  • Member service awards or branch performance contests
  • Gift vouchers for ad‑hoc recognition or small bonuses
  • Team lunches, celebrations, or social events
  • Staff participation in community events or volunteer programs
  • Recruiting and referral incentives for new hires

Professional development stipends or certifications

2. Add up the total.

When you calculate all of these expenses together, you might see that your credit union already has a recognition budget. It may just spread across multiple initiatives and departments.

3. Redirect the spend into a structured program.
By moving these costs into a single recognition and rewards platform, you create a program that is consistent, measurable, and aligned with your mission. Leadership can see clear ROI through improved retention, higher engagement, and stronger member service.

4. Comparison shopping

Once you know your goals and budget, the next step is to find the recognition and rewards platform that best fits your credit union. There are many options out there, but not all of them are designed for organizations like yours.

When you evaluate vendors, focus on whether the platform supports your mission, culture, and member experience. The right partner will make it easy for your team to give and receive recognition, track engagement, and connect recognition to the outcomes that matter most, such as employee retention, branch performance, and member satisfaction.

Questions about the vendor

  • Do you offer a full-service platform, or are there hidden costs for features, support, or employee rewards?
  • How do you support credit unions in reinforcing mission-driven behaviors and core values?
  • Can your platform encourage peer-to-peer and branch-to-branch recognition to strengthen culture?
  • Do you offer value-added coaching and ongoing support for using rewards as part of a greater employee experience?
  • What is your customer retention rate?

Questions about employee recognition and rewards

  • Do you offer global fulfillment?
  • Do your rewards have markups? If so, are they at or above cost?
  • How much variety is included in your reward options? (e.g., products, gift vouchers, experiences, charitable donations, and more)
  • Can rewards be customized to reflect credit union culture, like volunteer programs or community initiatives?
  • Do you support non-monetary recognition, such as badges or public appreciation?
  • Do you offer charitable opportunities that matter to our organization and employees?

Questions about the platform

  • Is the platform intuitive and easy to use? What’s the average end-user experience with your platform?
  • How much employee training and hands-on-administration does your employee recognition and rewards platform require, if any?
  • Does your employee recognition platform offer an API to easily integrate with other platforms/HRIS?
  • What does the implementation process for your employee recognition platform look like? Will we get any support from you, like launch communication or training kits?
  • Does your platform automate any of our existing programs, like birthdays, anniversaries, and KPIs?
  • Does your platform allow for a top-down or peer-to-peer employee recognition approach to engagement, or both?
  • Can your platform be customized? If so, how?
  • What sort of reporting metrics and analytics does your platform offer? Can it help you gauge engagement? Is the reporting data actionable?
  • Does your platform support language translations for global teams?
  • What are the tax implications for your employee rewards and rewards points structure?
  • (Note: If you must pre-buy points, it means your employees will be taxed whenever they receive recognition. If you do not pre-buy points, this is not the case.)

Asking these questions ensures you select a partner who understands your credit union and helps you create a recognition culture that supports your employees and members.

5. Making the decision

Once you have narrowed your options, it is time to make a confident choice. Before you decide to buy, here are a few key do’s and don’ts.

Do

  • Make sure you’re getting transparent pricing before you buy.
  • Look for testimonials, case studies, quotes, and awards. After all, experience matters.
  • Look for a long-term partner who offers valuable analytics and ongoing coaching.

Don't

  • Get lured into a low-cost solution, only to discover hidden service fees, reward markups, or other budget-derailing surprises.
  • Rely solely on the salesperson to assess the long-term viability of a program.
  • Pick a standalone product that won’t help you launch your initiative, grow with your credit union, adapt to your needs, or clearly reinforce your credit union’s values.

When you take the time to compare thoughtfully and confirm the partner can support both your people and your mission, you will set your recognition program up for long-term success. A strong choice will help retain top talent, strengthen member service, and support the culture that makes your credit union unique.

When you’re ready to dive in and begin your search, we hope you’ll consider WorkTango. But either way, this process should help you identify the right partner for your recognition & rewards needs.

WorkTango for credit union employee recognition and rewards

We hope this guide has given you the tools to identify the right employee recognition and rewards solution for your credit union.

At WorkTango, we understand the challenges credit unions face today. Leaner teams, rising member expectations, and increasing competition for talent make employee experience more critical than ever. That is why we partner with forward‑thinking credit unions to help them engage and retain employees, improve member service, and create stronger workplace cultures.

WorkTango is the Employee Experience Platform built for modern credit unions, bringing together:

Recognition & Rewards that make appreciation visible across every branch and department

Surveys & Insights that capture employee feedback in real time and drive action

The results speak for themselves:

  • Arrowhead Credit Union reduced turnover by 49% and saved 40% on its rewards budget by moving to WorkTango’s centralized recognition program
  • Apple Federal Credit Union achieved 91% supervisor and 85% employee engagement within three months of launch, with 52% cross‑department recognition participation
  • RBFCU tied recognition to member service KPIs and saw a 17% decrease in turnover and 68% increase in employees hitting higher member service scores

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WorkTango helps credit unions make recognition meaningful, measurable, and aligned with their mission. With a single platform, you can celebrate achievements, strengthen culture, and directly support the member experience.

Ready to see what’s possible for your credit union? Schedule a demo to learn how WorkTango can help your team thrive.