Hiway Federal Credit Union paying front-line staff coronavirus bonuses

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Hiway Federal Credit Union in St. Paul, Minn., is giving some of its employees a 20% bonus for working during the coronavirus pandemic.

Member-facing workers and others stepping in to serve in front-line roles will receive the pay bump, the $1.2 billion-asset credit union said Tuesday. The initiative is to reward these employees for their hard work during the crisis, the credit union added.

Dave Boden, president and CEO of Hiway Federal Credit Union

“As an essential service, we remain fully operational and here to serve,” Dave Boden, Hiway’s president and CEO, said in a press release. “This is just a small way to say thank you to those, who are, quite literally, on the front lines for our members. Many people are still working here in the offices – some indirect member contact roles, some on the phones – and we have others working at home to help members. We’re all in this together to ensure everyone is getting the service and the help they need.”

The institution is also taking other measures to ensure the safety of its employees, such as providing remote working options, ensuring social distancing and completing more thorough building cleanings.

Hiway is at least the second credit union to offer a bonus to employees during the pandemic. Credit Union of Southern California in Anaheim said earlier this month it would give $1,000 to every worker to help offset any financial hardships related to the outbreak.

Officials across the country have closed non-essential businesses and ordered people to stay home as much as possible, leading to concerns about the economic fallout from the outbreak. More than 3 million people filed for unemployment benefits, setting a new record.

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Coronavirus Employee benefits Employee engagement Employee relations Employee retention Workforce management Consumer banking Minnesota