Pros
Friendly people. Good work-life balance. Excellent benefits, though pay is at or slightly-below market. If you are skilled and a high-performer, you can work on whatever you want and develop whatever skills you like because you will NEVER lose your job for not meeting expectations...because there are none.
Cons
Nobody is ever fired, so little pressure to perform or add value. Lots of people who are simply not very good at their job. Complacency, neglect, and incompetence in too many departments (IT especially) and positions, including large portion of C-suite. Concern for product quality simply does not exist. Management is completely unwilling to remove poor performers and non-team players. The result is an environment with low morale where high performers quickly move on to somewhere better (turnover is very high), and those who remain are inevitably promoted to positions they are simply not skilled enough to handle. It's too bad, because the opportunity exists to do great work and truly help members.