South Bend-based Teachers Credit Union has awarded a total of nearly $1.3 million in “Inflation Fighter” profit sharing bonuses. The credit union says the one-time bonuses of $2,000 are being given to the majority of its nearly 800 full- and part-time employees “most impacted by current economic conditions.”
Jason Osterhage, who was named TCU’s chief executive officer in March, says the bonus is first and foremost a thank you to employees during a challenging year.
“This past year has been a difficult one for people trying to afford everyday life,” Osterhage said in written remarks. “Our 2022 business performance gave us the capacity to provide a little extra support to employees when they can really use it. TCU employees work hard to provide heart-felt service to our members every day, so we’re pleased to show them some heart-felt gratitude in return.”
TCU operates more than 50 branches throughout Indiana and southwest Michigan.
The credit union is the largest in the state with $4.5 billion in assets reported in 2021, according to IBJ research.