MIRAMAR, Fla.–As South Florida restaurants and retailers slowly start to re-open, Tropical Financial Credit Union said it is handing out extra cash to employees to help fuel an economic comeback.
Tropical Financial has given gift cards of $500 to each team member in the South Florida Region to spend on local businesses. The total amount is $85,000 to coincide with Tropical Financial’s 85th anniversary which occurred in March.
“As a home-grown business that has been in the community for 85 years, we wanted to do something special to support other local companies at a very critical time,” said President/CEO Rich Helber. “So, in collaborating with our board of directors, we felt the best way to accomplish that was by putting extra money in the hands of our employees. They get to buy something for themselves as a reward for their hard work, while helping out the greater good.”
The credit union said it is encouraging employees to post photos of themselves on social media as they redeem their gift cards to showcase and promote the businesses they are supporting.
Throughout the COVID-19 ordeal, Tropical Financial said it has stepped up in a “big way” to support its members and the community at large.
Loan officers have been working closely with borrowers facing economic hardships to defer payments on mortgages and car loans. The credit union has also offered interest free personal loans to help provide a short-term financial bridge for those who need some immediate relief paying bills. It is also processing loan applications for the SBA’s Paycheck Protection Program (PPP) and other small business loans. Collectively, they have helped members in different ways on over $150 million in loans.
In February, the credit union donated $2,500 to the American Red Cross to help with COVID-19 relief efforts. In March, it partnered with other local companies and a foundation to feed 270 medical personnel at Memorial Hospital West. And most recently the credit union has supported the Rotary Club of Weston’s Feeding the Frontline program which has served meals to health care workers and other first responders throughout Broward County.
“Over the past two months, we have been living out our mission of helping members and the community in ways we’ve never imagined,” said Helber. “When they need us most, we have been there for them. Just like now we are going to be there for our local businesses trying to survive these trying times.”