Canopy Credit Union Combats Inflation with Employee Bonus

The rise in inflation has impacted people across the country. Unfortunately, Spokane, Washington, has not been able to escape the stressful market. Canopy Credit Union and its employees are feeling the pressure of high gas prices, rising rent, steep grocery store price tags, and beyond.

Canopy’s President and CEO Charlotte Nemec said that Canopy’s executive team was paying attention to the “water cooler” conversations employees were having, sharing about how they were experiencing hopelessness from the current state of the economy.

“We were hearing complaints mostly about the cost of gas, but one employee expressed how feeding her two teenage boys was getting very challenging. She gave an example of paying $7 for a bottle of ketchup that her boys put on everything,” Nemec said.

Recognizing the importance of relieving employees’ financial stress so that they can better serve members who are similarly overwhelmed, the executive team made a well-received announcement: Canopy Credit Union was including a $500 bonus in each employee’s next paycheck.

In an organization-wide message, Canopy’s VP of Culture and Marketing Megan Shover said, “We know it doesn’t fix the economic whirlwind happening around us but we hope it helps you out wherever you need it most!”

For many Canopy employees, this extra support came at a crucial time.

“We hope this gives our team relief wherever they need it most whether it’s for gas, groceries, or even a repair or purchase they have had to put off,” Shover said.

Canopy’s executive team asserts that by supporting its employees first, the organization will be able to continue to flourish.

“We treat everyone, members, and employees, as whole people. Our team members aren’t just employees but people experiencing all the ups and downs of life. Therefore, we need to be aware of what can be causing them undue stress and do our best to help mitigate that stress. This bonus is just a small way to try to alleviate the stress of life right now,” Nemec said.

With renewed financial peace and a boost of encouragement, Canopy employees are better positioned to continue providing members with sincere and excellent service.

“When our employees are happy, relaxed, and less distracted by everyday stressors, like the cost of ketchup, they are better able to serve our members. Happy team members equal happy members,” Nemec said.

Posted in Member News.