Desert Financial Credit Union Tuition Reimbursement Program

Desert Financial Credit Union takes a different approach to employee education than most banks and credit unions. Instead of asking you to pay tuition and wait for a reimbursement check, its InvestED program covers tuition upfront for eligible full-time employees, with more than 200 online degree and certificate options through Arizona State University and other partner institutions.

Founded in 1939 by a group of Arizona teachers, Desert Financial now serves more than 500,000 members through over 50 branches. Below, you'll find how InvestED works, who qualifies, and how it compares with other Arizona companies that pay for college, so you can decide whether the benefit fits your plans.

Does Desert Financial Cover College Tuition?

Yes, and it does so without the usual out-of-pocket wait. Desert Financial launched InvestED in 2020 with workforce education provider InStride, and the program pays tuition directly on behalf of the employee.

That setup is the main difference between InvestED and traditional tuition reimbursement. You don't need savings to cover a semester before the money comes back, which makes school realistic for employees who couldn't otherwise front the cost.

What InvestED Covers

InvestED covers tuition for approved undergraduate degrees, graduate degrees, and certificate programs. Degrees come from Arizona State University, while certificates come from a mix of partner institutions.

Desert Financial also lists paid professional courses as part of the benefit. Fees, books, and other expenses aren't spelled out in public materials, so ask HR or InStride which costs fall outside tuition before your first term.

Undergraduate and Graduate Funding

Undergraduate tuition through InvestED is covered upfront at no cost to you. Graduate degrees are funded up to $10,500 per calendar year, which covers a large share of many online master's programs.

If you're aiming for a graduate degree, map out how many courses you'll take each year. Spreading your coursework across calendar years can help you stay within the annual cap and avoid a balance.

Who Can Use InvestED?

InvestED is open to full-time Desert Financial employees after 90 days of employment. That short waiting period means you can start planning your first term within a few months of your hire date.

Public materials describe InvestED as a benefit for full-time staff, so part-time employees should confirm their status with HR. If you're comparing several Phoenix companies that pay for college, the 90-day timeline is one of the faster starts you'll find.

Degree and Certificate Options

ASU's online catalog gives you plenty of choices at the bachelor's and master's levels. Popular fits for credit union careers include:

• Business and finance: An online finance degree builds skills in lending, investments, and financial analysis, while a bachelor's degree in banking zeroes in on how financial institutions operate.
• Business administration: Graduate options like an MBA can prepare you for branch management, operations, or executive roles.
• Technology and data: Credit unions rely on IT, cybersecurity, and data analytics talent, so tech degrees can open doors on the corporate side.
• Professional certificates: Shorter online certificates that don't require a degree let you add skills quickly without committing to a full program.

If you already have some college coursework, bring your transcripts to your first advising conversation. ASU reviews prior credits, and online colleges that accept transfer credits can shave months off your timeline.

InvestED Results So Far

Desert Financial has shared some striking numbers about the program. By its four-year mark, 750 of 2,367 eligible employees had enrolled, a 32% participation rate compared with roughly 2% for traditional tuition reimbursement programs.

The outcomes have been strong as well. Fifty employees had earned bachelor's or master's degrees by that point, participants saved a combined $4 million in tuition, and enrolled employees had a 7-percentage-point higher annual retention rate. Desert Financial also reports that 92% of participants say the program increased their desire to grow their careers there.

Other Education Benefits at Desert Financial

InvestED is the headline perk, but Desert Financial supports learning in a few other ways, too. These benefits can help whether you're still in school or already have a degree:

• Student loan repayment: Employees with an undergraduate or graduate degree can get help paying down student loan debt.
• Professional certification reimbursement: Desert Financial reimburses certifications that strengthen your professional credentials.
• Paid training: The credit union funds job-related learning and skill development.
• Career advancement support: Employees get help pursuing internal moves and promotions.

Desert Financial doesn't publish dollar amounts for these benefits. Reach out to HR for current limits and eligibility rules before you plan around them.

How To Get Started With InvestED

The process runs through InStride, which handles enrollment and coaching for Desert Financial employees. Here's what the path generally looks like:

• Reach 90 days of full-time employment: Confirm your start date and full-time status with HR.
• Log in to the InvestED portal: Desert Financial's InStride site lets you browse programs and connect with an enrollment coach.
• Choose your program: Pick a degree or certificate that matches your goals, whether that's a career at the credit union or a new field entirely.
• Apply to ASU or the certificate provider: Complete the admissions steps for your chosen program and submit any prior transcripts.
• Plan your course load: For graduate degrees, work out a schedule that keeps you within the $10,500 annual limit.

Career Outlook in Financial Services

A degree can help you move from member service into lending, management, or leadership. Loan officers earn a median annual wage of $76,690, though employment in that field is projected to grow just 1% through 2035, so credentials can help you stand out.

Management is where an advanced degree tends to pay off most. Financial managers earn a median annual wage of $166,570, according to the Bureau of Labor Statistics (BLS), and employment is projected to grow 10% through 2035. Most of these roles call for a bachelor's degree plus five or more years of experience, which makes earning a degree while you work a smart long-term move.

How Desert Financial Compares to Other Employers

Plenty of finance companies offer tuition reimbursement, but the details vary widely. Here's how InvestED stacks up against a few large employers with a strong Arizona presence.

JPMorgan Chase

JPMorgan Chase runs its education benefit through Guild, with full tuition coverage for select associate and bachelor's degrees in its catalog. Other approved undergraduate programs get up to $5,250 a year, and master's degrees and certificates get up to $7,500.

Chase offers more school choice than Desert Financial. InvestED, on the other hand, provides a higher graduate cap at $10,500 a year.

Wells Fargo

Wells Fargo reimburses full-time employees up to $5,000 a year and part-time employees up to $2,500 for approved coursework. You pay upfront, and coursework generally needs to connect to your current role or career path.

Wells Fargo's part-time eligibility gives it an edge for some workers. For full-time employees, InvestED's direct payment and open choice of field make it the more generous option.

Starbucks

Starbucks' College Achievement Plan also partners with ASU Online and covers tuition for a first bachelor's degree. Eligible part-time partners can qualify, too, after meeting an hours requirement.

The programs look similar at the undergraduate level. Desert Financial goes further by funding graduate degrees and certificates, while Starbucks limits its benefit to a first bachelor's.

Things To Consider

InvestED centers on ASU for degrees, so your options are tied to that school's online catalog. That's a strong catalog, but if you have your heart set on a different university, you'll need to find another way to pay for it.

Eligibility also hinges on full-time status. If you work part-time or plan to cut back your hours, check with HR about how a schedule change might affect your enrollment before you start a program.

FAQs About Desert Financial Education Benefits

InvestED is simpler than many employer programs, but a few questions come up often. These answers can help you sort out the details.

Is InvestED Taxable?

Under Section 127 of the tax code, employers can provide up to $5,250 a year in tax-free educational assistance, and that limit is set to rise with inflation over time. Most undergraduate coverage falls within that range, but graduate funding of up to $10,500 a year can go over it. Any amount above the limit may count as taxable income, so it's worth talking with a tax professional.

Do You Need To Be Admitted to ASU Before You Enroll?

You'll need to meet ASU's admissions requirements, but you don't have to be admitted ahead of time. Employees who don't qualify for admission right away can start with an earned admission pathway. Completing those courses can then open the door to a full degree program.

Does Your Degree Have To Relate to Your Job?

No, InvestED lets you choose any field of study among its approved programs. That's unusual for an employer education benefit, since many companies require a direct connection to your role. You can use the benefit to grow within Desert Financial or to build skills for a different career path.

What Is InStride?

InStride is a workforce education provider that partners with employers and universities to run education benefits. For Desert Financial, it manages the InvestED portal, program catalog, and enrollment support. You'll work with InStride when you browse programs and apply.

Start Building Your Future at Desert Financial

InvestED gives eligible full-time employees a rare chance to earn a degree or certificate without paying tuition out of pocket. Learn.org offers information and resources to help you compare programs and plan the education path that fits your goals.