Desert Financial Achieves 1,600% Higher Participation in Upfront Tuition Program vs. Traditional Programs
Fifty Employees Graduate with Bachelor's or Master's Degrees on Fourth Anniversary of InvestED Education Program
Arizona's largest local credit union, Desert Financial, has achieved a 32% participation rate in its education program, InvestED, on the program's four-year anniversary – 1,600% higher than the 2% participation average for a traditional tuition reimbursement program. InvestED allows eligible full-time employees to enroll in 200 online programs, including undergraduate and graduate degrees from Arizona State University and certificates from leading institutions, with tuition costs covered upfront. Graduate degrees are covered up to $10,500 per calendar year.
"The success of InvestED is a testament to our ambitious and dedicated team," said Jeff Meshey, President and CEO at Desert Financial. "Our employees tell us that they see the program as a life-changing opportunity to achieve goals that were once out of reach, to grow their careers with us and gain the skills they need to thrive in their jobs."
InvestED was created in partnership with workforce education solutions provider InStride to support opportunities for career advancement, mobility and skill development for Desert Financial employees. The program is DFCU's exclusive education offering, which it promotes and supports at all levels of the organization, encouraging participation and reinforcing a culture of growth and learning.
In four years, the InvestED has had measurable impact:
750 of 2,367 eligible employees have enrolled in undergraduate, graduate and certificate programs since the program launched
50 employees have graduated to date from a degree program as of Summer 2024
7.7 percentage point higher rate of annual retention for participating employees
$4 million in tuition savings for participating employees
92% of enrolled employees agree that their participation in InvestED has increased their desire to grow their career with Desert Financial
Founded by teachers more than 80 years ago, Desert Financial has a longstanding commitment to fostering a culture of continuous learning and growth for its team, who proudly serve the credit union's more than 450,000 members as well as the broader community.
This includes executive assistant and event planner Yadira Cerpa, who returned to school after 20 years to earn her bachelor's degree debt-free through the program: "Going back to school and getting my degree is something that I've always wanted to do. When they said Desert Financial is going to pay full tuition for you to go back to school...I thought, I have to take advantage of this. No more excuses."