One sa¹ú¼Ê´«Ã½ organization is supporting employees in an unexpected way.
Coast Capital Savings revealed Thursday it’s given out a one-time bonus of $1,000 to full-time and part time permanent employees in response to the uncertainty hanging over the economy.
“We understand the challenging economic climate people in sa¹ú¼Ê´«Ã½ are facing. We also recognize that each day our employees are showing up for our members to help them navigate a highly volatile financial time despite the fact that they, too, are feeling the strain,” Ania Cox, chief people officer at Coast Capital, said in a statement.
The bonus is geared towards helping employees grappling with the rising cost of living amid higher than normal interest rates and inflation.
sa¹ú¼Ê´«Ã½’s inflation rate was on a cooling trend as of September as consumer prices on the West Coast rose 3.3 per cent that month – down from 3.8 per cent in August, according to Statistics sa¹ú¼Ê´«Ã½ data released Oct. 17.
National inflation also cooled to 3.8 per cent that same month, down from four per cent in August 2023.
The sa¹ú¼Ê´«Ã½ financial institution said it’s given out $1.76 million to employees, excluding executive leaders.
Coast Capital ranked as sa¹ú¼Ê´«Ã½’s second biggest credit union on BIV’s list of biggest credit unions for 2023.