Credit Unions employ Credit Union Owned Life Insurance (CUOLI) for many different strategic reasons. Offsetting current, ongoing, benefit costs such as group health and welfare plans is very typical. 

However, credit unions are finding it more difficult to compete for top talent. CUOLI is increasingly being employed to offset the costs of retention, reward and retirement strategies for key executives of credit unions. These programs include Split Dollar, §457(f) and §457(b) retirement plans and shorter-term incentive and bonus plans.