Three Credit Unions Now Requiring All Employees to Get Vaccinated

At least three credit unions in North Carolina, Texas and Hawaii may be among the first in the industry to require the COVID-19 vaccination for all of their employees.

Amid the vaccination-related controversies that continue to arise as COVID’s Delta variant surges across the nation, the $1.9 billion Allegacy Federal Credit Union in Winston Salem, N.C., the $1.7 billion Credit Union of Texas in Allen and the $2.2 billion Hawaii State Federal Credit Union in Honolulu, announced their new policies on Monday.

“For over 10 years Allegacy has had a comprehensive wellness program for our team members in an effort to protect the health and well-being of its most important asset, our people,” Allegacy President/CEO Cathy Pace said. “With the Delta variant so widespread right now, and North Carolina being at high or substantial risk for spread, we are taking additional steps to safeguard the health and well-being of our team members so that we can continue to be available to serve our members and the community. With guidance from the CDC and our local medical partners at Novant Health and Wake Forest Baptist Health, we understand that the best course of action for ending the pandemic and saving lives is vaccination. We hope that other businesses will stand with us alongside our medical community to help put an end to this pandemic.”

Credit Union of Texas (CUTX) said it views the vaccine requirement as a condition of employment as building on its meticulous safety and sanitizing protocols practiced throughout pandemic, and that it serves to honor its ongoing commitment to its communities.

“We have a fundamental obligation to provide a safe workplace, which we take very seriously, and the health and well-being of our employees and members have always been a top priority for CUTX,” CUTX President/CEO Eric Pointer said. “Following the precedent of other prominent companies taking a leadership role in this vital effort, we will reward our employees for doing their part and make it easy for them to receive a vaccine. With the continued risk of COVID-19 and the rise of new variants, we also want to play a role in supporting our communities’ vaccination efforts and provide our members with safe locations staffed by fully vaccinated team members that they can feel comfortable visiting.”

Hawaii State FCU President/CEO Andrew Rosen also said the goal of the vaccine mandate is to protect members, employees and the broader community.

“It is clear that vaccination against COVID-19 is one of the greatest tools available to lessen the spread within our community and protect from severe illness and hospitalization,” Rosen said. “With more businesses requiring the vaccine as a condition of employment, I’m hopeful we’ll see an end to this pandemic soon.”

As required by state and federal laws, employers must offer accommodations for employees who cannot take the vaccine because of medical reasons or sincerely held religious beliefs.

While the three credit unions said health and religious accommodations will be provided to employees who qualify, Hawaii State FCU said those employees will still be required to test regularly for COVID‑19 and may be subject to job modifications.

Currently, 78% of Hawaii State FCU’s 369 employees are fully vaccinated, meaning the remaining 22% must be fully vaccinated by Oct. 1.

AT CUTX, 70% of the credit union’s 496 employees are fully vaccinated, requiring 30% of the workforce to get fully vaccinated by Sept. 20, though employees with medical or religious reasons can request an exemption. Those who wish to terminate their employment will receive a generous separation agreement, the credit union said.

As part of its employee vaccination incentives, CUTX said it has provided all vaccinated team members with four hours of paid time off, a benefit that will be extended to all remaining employees who have not been vaccinated yet. What’s more, CUTX will furnish all currently- and soon-to-be-vaccinated employees with a $500 bonus and offer vaccines at various locations open to all employees and families.

Allegacy said it is providing two hours of paid time off (one for each dose) for every team member to get their vaccine. The credit union’s 401 employees have until Sept. 30 to complete their COVID-19 vaccination process.

“Allegacy just asked team members to start submitting COVID-19 vaccine cards this past week,” Pace said. “While we have already received a large number of submissions, at this time we don’t have the total number of team members that have been fully vaccinated.”

Because the COVID-19 vaccine is a condition of employment, no severance packages will be offered to Allegacy employees.

“As other businesses have experienced, the response from team members ranges. Some are very supportive of this decision and are proud that Allegacy has taken the next step to protect employee health,” Pace said. “We recognize other team members are struggling with the decision and are working through their options. We care about and value all of our Allegacy teammates and have encouraged our staff with questions or concerns to talk with our human resources team along with providing resources from our local medical partners.”