Moving to Oracle HCM Cloud helps this credit union attract the tech-savvy employees it needs to add services and expand.
Arizona Federal Credit Union enjoys a reputation for its friendly and knowledgeable employees, reliable retail banking services, and support of its customers. For example, when the federal government shut down in late 2018, the credit union offered low-interest loans to its members.
Now the credit union is looking to grow, with efforts such as its recent acquisition of Pinnacle Bank providing entry into commercial business banking. As it invests in technology to support that growth, the goal is always the same: To give Arizona Federal's people more time to focus on more meaningful conversations with its 134,000 members.
From the moment applicants first meet us everything is digital, from application to onboarding to training.Elias Medina, Director of Recruitment and Training, Arizona Federal Credit Union
Arizona Federal Credit Union’s recruiting used to revolve around local job fairs, paper applications, and free pens. The tech-savvy applicants the credit union wanted to attract were not impressed.
The credit union took note and modernized its HR processes. Now, via a mobile app that uses Oracle HCM Cloud, applicants can apply instantly. The recruiting module lets Arizona Federal automatically track applicants from first contact, through hiring, and then onboarding. Employees become experts in their new jobs by using the learning management module, which offers a digital, collaborative, video-based platform.
Oracle HCM Cloud gives all 550 employees an easier way to understand their benefit choices and to select the options that best fit them and their families. And the succession planning capabilities help managers prepare for the future, as the acquisition of Pinnacle Bank brings on new employees with expertise in commercial banking.
Now, managers can produce compensation reports 80 percent faster, boosting productivity and accelerating insights. With Oracle making automatic updates to its cloud-based HR applications, the credit union reduced the time and effort spent on fixes and patching by 80 percent.
Keeping experienced employees on the job is important. Three years ago, 52 percent of new hires left their jobs during the first year; that figure is now down to 29 percent.
Oracle Cloud HCM
Now that employees have a platform to make their own benefit selections, administrators save 115 hours during open enrollment each year, plus another 15 to 20 hours per month.