Here at BranchServ, our motto really says it all: We strive to help our customers put their Best Branch Forward. We truly believe that our products and services can make all the difference in the ultimate success of a financial institution. And your success is our success. Why? Because your results impact your level of satisfaction, your satisfaction influences your likelihood of maintaining ongoing business with BranchServ, and that in turn touches each and every employee.
This motivation is driven, in part, by the ownership framework of our company, as BranchServ is an ESOP. Short for Employee Stock Ownership Plan, an ESOP translates to employees with skin in the game through ownership stock, or shares. In order for those shares to accumulate wealth, it's to the advantage of our employees that the company remains profitable. And the best way of doing that is by seeing to it that our clients get everything they expect from us and then some In short, it's a win-win-win situation: for the company, for the employees and for customers like you.
"Nearly 75% of ESOP companies have seen revenues rise through employee ownership programs."
ESOPs are booming
ESOPs have proven quite popular among many businesses today. Indeed, according to the most recent statistics available from the National Center for Employee Ownership, ESOPs in the U.S. alone total more than 10,000 strong, covering over 10 million employees. Their expansion is no mere passing fad. It's because they do what they're designed to do – increase revenue. According to the ESOP Association, as of 2018, nearly 75% of ESOP companies have seen revenues rise through employee ownership programs.
They provide similar capital-enhancing advantages to the families of employee participants, based on a study done by researchers from Rutgers University. Virtually across the board, ESOP member families have much more in retirement savings than the typical American household, with the median ESOP account totaling $165,000 compared to just $17,000 for the average U.S. household. Even among employees whose incomes can be classified as low to moderate, baby boomers who work at ESOPs have 10 times the amount of wealth compared to their retirement-age contemporaries.
There's a mutual understanding here at BranchServ. The company agrees to deliver contributions to our staff members' retirement accounts. In return, our workers go the extra mile in their daily efforts to assure that customers get exactly what they want from us, whether that's through integrated equipment, consulting and design or our signature services. Our being an ESOP company makes it truly in their best interest to do so.
Please contact BranchServ to learn more about the program and how our ESOP status can affect the results we can deliver for your financial institution. You will feel the difference.