COLUMBUS, Ohio – KEMBA Financial Credit Union said it has paid a $525 inflation bonus to each of its 304 employees, while further announcing another bonus is also coming.
The $1.9-billion CU said it made the move in response to the latest inflation reports that show cost of living continues to increase across the board and the prices of everyday necessities soar.
“Our associates are the number one key to our success as a financial cooperative,” said President and CEO Mark Decello. “Their wellbeing is of utmost importance. If they’re feeling financially overwhelmed, it’s going to trickle into their workday and our goal is to remove some of that burden,” he added.
KEMBA said the announcement of the bonus was made by VP-Human Resources Shernette Henry during the credit union’s recent bi-annual all-staff meeting, which aims to bring employees together to celebrate the credit unions’ successes.
“When the announcement was made, the room erupted in applause,” said Mackenzie Krygier, human resources coordinator. “I feel so fortunate to work for a company who recognizes the financial burden its employees are facing and steps up to do something about it,” she added. “This will absolutely make a difference to me personally.”
Early Bonus
According to KEMBA Financial Credit Union, it also had additional “good news,” announcing it will pay its annual success bonus, typically awarded during the holiday season, early this year.
“All employees will receive the tiered bonus – dependent upon their tenure – before the end of October,” the credit union said. “For example, a new associate making $40,000 annually will get a combined bonus of nearly 2% of their annual salary, which is on top of an annual merit raise and a profit share contribution made yearly into each associate’s 401(k).”
“I am honored to lead this outstanding group of individuals at KEMBA,” Decello said. “Their service to each other and our members is second-to-none, and I am proud to celebrate their hard work with this financial reward.”