Affinity Plus gives all employees raises, extra days off for serving members during record year
4% across-the-board raise retroactive to beginning of 2021
ST PAUL, MN (December 17, 2021) — Affinity Plus Federal Credit Union in Minnesota with 230,000 members and 28 branches throughout the state has rewarded 550 of its employees with a special pay increase in December.
“The care and compassion our employees have shown towards our members and each other through the pandemic is truly remarkable” said Dave Larson, CEO of Affinity Plus. “As our business has evolved, our employees have adapted with a level of flexibility and grace that has also allowed us as an organization to grow and have success through this time.”
The 4% pay raise takes effect Dec. 22. In addition, Affinity Plus retroactively applied the increase to Jan. 1, so employees will receive a lump sum check for back pay for the entire year. Along with the raise for all employee and manager positions, Affinity Plus announced it is expanding pay ranges and beginning paying time and a half for Saturday shifts, effective immediately.
These steps are part of the ongoing commitment to support employees. In July, Affinity Plus leadership awarded all employees with $500 and three days of additional time off to use by the end of 2021. And Affinity Plus recently announced they will continue with a partnership with Metropolitan State University and pay 100 percent of the tuition for employees to participate in an Affinity Plus MBA cohort program.
Throughout the pandemic, Affinity Plus invested heavily in member needs, with loan forbearances, eliminating and proactively refunding fees; launching new programs for low-income and under banked persons – including a special loan product with the City of St. Paul for immigrants seeking naturalization.
The organization has focused intensely on community needs, leveraging the Affinity Plus Foundation and community engagement work throughout Minnesota – including more than $100,000 in college scholarships, as well as community grants and cultivator grants for teachers in unique learning situations.
“Affinity Plus’s member-first approach has led to record results in 2021,” added Larson. The credit union has added almost 20,000 new members and grown member assets by nearly 14% to $3.64 billion, making it one of the fastest growing credit unions in Minnesota. Larson said that loan growth of nearly 19% in 2021 has been driven in part by members and new members refinancing loans for lower interest rates and to free up needed dollars during the pandemic. At the same time, digital adoption has skyrocketed with more than 65% of members actively using digital banking, including Affinity Plus’s top-rated mobile app.
About Affinity Plus Federal Credit Union
Based in St. Paul, Minn., Affinity Plus Federal Credit Union is a not-for-profit, financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees, and unique, member-centric products and programs. Established in 1930, Afinity Plus has 30 branches located throughout Minnesota and is owned by more than 230,000 members. Affinity Plus has over $3.5 billion in assets. Additional information is available at www.affinityplus.org or by calling (800) 322-7228.