The $2.1 billion asset credit union issued a holiday bonus Nov. 19, followed by an inflation bonus Dec. 17.
The amount of the holiday bonus depended on the employees’ role and tenure.
However, every full-time employee received a $1,000 inflation bonus, while part-time employees and employees hired after Oct. 1 received a prorated inflation bonus.
CU SoCal has prioritized staff’s financial well-being during the coronavirus pandemic by giving every employee two “pandemic relief bonuses” of $1,000 early in 2020.
The credit union's slogan, “Building Better Lives," doesn’t just refer to helping members, says Dave Gunderson, president/CEO. “It also extends to everyone on the CU SoCal team.
“This is our way to say ‘thank you’ for everything they have done and continue to do,” Gunderson continues. “We hope these bonuses take some of the financial burden off the collective shoulders of our wonderful employees.”
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
