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The $2.7 billion, Austin, Texas-based A+ Federal Credit Union has raised its starting hourly wage to $20 for new, onsite employees, according to a Tuesday announcement from the credit union.
In addition, current A+FCU employees received raises, the credit union said. The news followed several other announcements of pay increases from other credit unions amid rising inflation this year, including the $15.6 billion Randolph-Brooks Federal Credit Union in Live Oak, Texas ($20 starting pay), the $27.6 billion SchoolsFirst Federal Credit Union in Tustin, Calif. ($18 starting pay for all employees with increases of up to $27, and $20 starting pay for branch employees with increases of up to $31) and the $1 billion Notre Dame Federal Credit Union in Notre Dame, Ind. ($17 starting pay).
"We know the importance our team is to our success, so we're pleased to announce that we recently increased our onsite entry level effective pay to $20 per hour," A+FCU President/CEO Eric R. Kase stated. "As we continue to grow our team, we're excited to offer this increased compensation and celebrate the endorsement as one of the Top Workplaces in the Austin area."
In its announcement, A+FCU noted its starting pay increase was soon followed by a Top Workplaces 2022 honor from the Austin American-Statesman, in which it ranked among the top 15 in the large business category. According to the credit union, the award was a result of an anonymous employee survey conducted by a third party that measured 15 culture drivers, including alignment, execution and connection.
"We're so honored A+ Federal Credit Union has been recognized with a Top Workplaces award by the Austin American-Statesman," Kase stated. "Over the past few years, we've implemented a number of new employee programs to support our team members. To learn they've rated A+FCU in such a positive way is incredibly meaningful."
A+FCU employs over 530 employees, runs 22 branches and serves over 190,000 members.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
