Joshua Bennett
Catholic Financial Life is a private, not-for-profit financial services provider based in Milwaukee, Wisconsin. It was founded in 1868 by the first Archbishop of Milwaukee, John Martin Henni, and is the oldest Catholic fraternal benefit society in the US. The company has grown over the years through several mergers, with the most recent one being with Degree of Honor Protective Association in 2017. Catholic Financial Life has been recognised as a Top Workplace by the Milwaukee Journal Sentinel for seven consecutive years. The company has between 51 and 200 employees, with one source placing the number at 210.
| Characteristics | Values |
|---|---|
| Number of employees | 51 to 200 or 210 |
| Headquarters | 1100 West Wells Street Milwaukee, WI |
| Year founded | 1868 |
| Annual revenue | $22.0M |
| Assets | $1.7 billion |
| Members | 85,000 (in 2010) + 40,000 (in 2017) = 125,000 (approx.) |
| Number of branches | 141 (in 2010) |
| Number of chapters | 78 (at the time of merger with Catholic Knights) |
| Number of states | 17 (in 2010) |
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What You'll Learn
Catholic Financial Life has between 51 and 200 employees
Catholic Financial Life is a well-established company with a long history that dates back to 1868. With a presence in the industry for over 150 years, the company has grown and expanded over time. While it started as a small organisation, Catholic Financial Life now has a significant number of employees, with estimates placing the figure between 51 and 200. This range indicates a relatively small to medium-sized workforce.
The company's headquarters are located in Milwaukee, Wisconsin, and it serves members across the United States. Over the years, Catholic Financial Life has merged with several other societies, including Catholic Knights of America and Catholic Family Life Insurance, contributing to its growth and expansion. The company's membership-based structure and commitment to Catholic values have been integral to its operations.
As a community-based, not-for-profit financial services provider, Catholic Financial Life takes a "Main Street" approach, prioritising the financial interests of its members. The company offers a range of services, including life insurance, retirement planning, and education savings. With assets of $1.7 billion, Catholic Financial Life has established itself as a trusted financial partner for its members.
The company has received recognition for its workplace culture and employee satisfaction. It was voted the best workplace in Milwaukee and has been recognised by the Milwaukee Journal Sentinel as a Top Workplace for several consecutive years. Employees have shared mixed reviews, with some praising the company's family-like culture, collaborative environment, and growth opportunities, while others have noted concerns about leadership and unrealistic expectations.
Catholic Financial Life's workforce falls within the range of 51 to 200 employees, reflecting its status as a growing and expanding financial services provider with a strong presence in the industry.
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The company has been recognised as a top workplace
Catholic Financial Life (CFL) has been recognised as a top workplace, ranking #30 on the Best Insurance Companies to Work For in Wisconsin list. The company has been recognised by the Milwaukee Journal Sentinel as a Top Workplace for seven consecutive years. In 2015, the publication also recognised CFL as one of the 150 Top Workplaces for 2015, based solely on employee surveys.
CFL is a well-established company with a long history, founded in 1868 by the first Archbishop of Milwaukee, John Martin Henni. It is a small insurance company based in Milwaukee, Wisconsin, with 51 to 200 employees and an annual revenue of $22 million. The company has been praised for its strong values and community involvement. It has been described as a "people-friendly employer" with a supportive and family-like culture, where competence is valued and rewarded.
CFL has a diverse range of employees, with 15.2% of its workforce having graduated from Marquette University. The company offers a collaborative work environment, providing opportunities for interns and new graduates to work across different departments and engage with leaders. Employees have also highlighted the company's forward-thinking and growth mindset, making it a great place to work and be part of something bigger.
However, some reviews suggest that the company could improve in certain areas. There have been concerns about unrealistic expectations placed on employees and contracted agents, with a focus on profit and cash reserves. Additionally, some employees have felt a lack of respect and compassion for those below the management level, as well as insufficient training opportunities.
Despite these criticisms, Catholic Financial Life has a strong presence in the industry and is committed to expanding its team and services. The company has been recognised for its dedication to its values and community involvement, making it a desirable workplace for those seeking a supportive and collaborative environment.
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It has a history of staff cuts and high expectations
Catholic Financial Life (CFL) is a community-based, not-for-profit financial services provider that offers services such as life insurance, retirement planning, and education savings. With assets of $1.7 billion and members across the United States, the company has a long history dating back over 150 years.
CFL has been recognised as a great place to work, being voted the best workplace in Milwaukee and receiving recognition from the Milwaukee Journal Sentinel as a Top Workplace for seven consecutive years. However, some employees have reported that the company has a history of staff cuts and high expectations.
Reviews from employees on Indeed.com reveal a mixed bag of experiences. Some employees have praised the company for its driven culture, strong values, and friendly staff. They have also highlighted the opportunity to be part of something greater than themselves and the positive internship opportunities available.
On the other hand, some employees have criticised CFL for being overly concerned with profits and cash reserves, leading to unrealistic expectations and a negative impact on staff. There are reports of staff cuts, commission cuts, and a focus on hiring young, part-time agents to avoid paying benefits. Older agents and managers are reportedly being phased out without replacement.
The work-life balance at CFL has also been called into question, with employees reporting long work hours and a lack of respect and compassion for staff below the management level. These reports suggest that while CFL has a strong track record and positive company values, the experience for employees can vary greatly depending on their position within the company.
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Catholic Financial Life is a community-based, not-for-profit
The company has grown over the years, with several societies merging with Catholic Financial Life, including Rhode Island-based Union Saint-Jean-Baptiste in 1991 and Northern Fraternal Life in 1993. In 2005, the Catholic Knights of America merged with the Catholic Knights Insurance Society to form the Catholic Knights, which then merged with Catholic Family Life Insurance in 2010 to create Catholic Financial Life. In 2017, Catholic Financial Life acquired the Degree of Honor Protective Association, adding about 40,000 members and $569 million in insurance.
Catholic Financial Life has been recognised as a Top Workplace by the Milwaukee Journal Sentinel for seven years in a row. The company has a strong culture and values, with employees feeling like they are part of a family. The company also has a “member first” mentality and is constantly growing and evolving. Catholic Financial Life offers a range of financial services, including life insurance, retirement planning, and education savings, with assets of $1.7 billion and members across the United States.
The company has been praised for its collaboration across different departments and its approachable leadership. However, some employees have noted a lack of respect and compassion for staff below the management level and a serious lack of training. Catholic Financial Life is based in Milwaukee, Wisconsin, and has between 51 and 210 employees, according to different sources. The company has been recognised for its community involvement, including partnerships with the Society of Saint Vincent de Paul and Milwaukee Habitat for Humanity.
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The company has a family-like culture
Catholic Financial Life is a small insurance company with 51 to 200 employees and an annual revenue of $22 million. It was founded in 1868 by the first Archbishop of Milwaukee, John Martin Henni, and is currently headquartered in Milwaukee, Wisconsin. Over the years, several societies have merged with Catholic Financial Life, including Catholic Knights Insurance Society and Catholic Family Life Insurance, to form what it is today.
The company has a strong family-like culture, with employees reporting that their colleagues treat them like family and show a general interest in their lives outside of work. This culture, along with the company's values and rewarding of competence, has led to many employees remaining with the company for years. One employee review mentions the "wonderful support" received, while another speaks of the company's "growing, great culture".
The company's culture is also reflected in its community involvement. As a community-based, not-for-profit financial services provider, Catholic Financial Life takes a "Main Street, not Wall Street" approach. This is evidenced by its national partnership with the Society of Saint Vincent de Paul, as well as its collaboration with Milwaukee Habitat for Humanity. By 2015, CFL chapter members had volunteered 126,000 hours of service and raised over $1 million for the Society of Saint Vincent de Paul.
Catholic Financial Life's culture of supporting its members and communities is further demonstrated by its history of being the first to insure women and children and providing Masses for living and deceased members. The company's commitment to its members is also reflected in its employee reviews, with one employee mentioning the company's "member-first mentality".
Overall, Catholic Financial Life's family-like culture is characterised by its supportive and collaborative environment, community involvement, and commitment to putting its members first.
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Frequently asked questions
Catholic Financial Life has between 51 and 200 employees. One source states that the company has 210 employees.
Catholic Financial Life has 85,000 members in 141 branches across 17 states. In 2017, the company acquired the Degree of Honor Protective Association, adding 40,000 members.
The company is headquartered in Milwaukee, Wisconsin. The exact address is 1100 West Wells Street.
Catholic Financial Life is a not-for-profit, community-based financial services provider. It was founded in 1868 and is the oldest Catholic fraternal benefit society.
