Credit Union of Southern California in Anaheim will give each employee $1,000 to help offset any financial hardships they experience related to the coronavirus pandemic.
All employees, including temporary workers, will receive the benefit, the $1.7 billion-asset credit union said in a press release on Friday. The institution had previously announced that workers would receive 80 hours of paid sick leave during the outbreak.
“In my more than two decades with CU SoCal, we have not laid off a team member. We remain passionate about continuing that tradition,” Dave Gunderson, president and CEO, said in the press release. “However, the spouses and adult children of some CU SoCal team members are beginning to experience reduction in work hours at their jobs, and it’s likely that some households will experience layoffs in the near future due to the dramatic decline in business activity.”
CU SoCal joins a number of other institutions to offer similar payouts to staffers, including
Credit Union of Southern California said it was also calling its senior citizen members for wellness checks and to see if employees can assist them with buying groceries and other items.
Much of American life has been halted as officials have closed schools, canceled large gatherings and asked people to stay home in an effort to slow the spread of COVID-19. Some workers are facing layoffs or a loss of income from a related economic slowdown.
California Governor Gavin Newsom on Thursday issued a
Toronto-Dominion Bank plans to give most employees the option to return to the office this month and is aiming for workers to officially transition to their new working models by June.
The Biden administration once again extended the pause on student loan payments enacted to help borrowers during the COVID-19 pandemic, this time through the end of August.
Employees will still have some flexibility to work from home, but are strongly encouraged to collaborate with colleagues in person, according to people familiar with the matter.
