Why credit unions are paying employees to do volunteer work

Published 4 Min Read

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Paid time off is typically associated with vacation. But at many credit unions, employees are using those hours to serve their communities.

Without dipping into their vacation or sick days, these lenders’ employees can take time off to pitch in at a food pantry or a soup kitchen, serve on the board of a nonprofit or help rebuild a house destroyed by a natural disaster, using PTO specifically for volunteer work, sometimes called “VTO.” Some credit unions designate certain charity groups to work with, but in many cases employees can volunteer wherever they want.

Nathan Place
National Reporter

Nathan Place is a national reporter at American Banker. A native of New York City, he has worked for more than a decade in both print and video journalism. He got his start in Beijing, where he … Read full bio


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