Vermont Business Magazine NorthCountry Federal Credit Union presented a check for $10,000 to Rhino Foods Foundation’s Income Advance (IA) Program Initiative. Rhino Foods Foundation shares its IA and other innovative workplace programs with Vermont companies to help champion employee financial stability.
The IA program promotes access to key financial services and assists employees with opportunities for a no questions asked, no minimum credit score required, low interest loans, that builds credit and promotes starting savings accounts. Rhino Foods has seen a steady increase in employee financial wellbeing and workplace morale, a corresponding reduction in employee turnover, increase in productivity and workplace trust, and healthy business growth.
Pictured left to right, Naomi Wright, Rhino Foods; Jeff Smith, NorthCountry; Ted Castle, Rhino Foods; Caitlin Goss, Rhino Foods; Katya Babyuk, Rhino Foods.
“We are proud to be associated with such a groundbreaking project,” says Jeff Smith, Senior VP of Lending, NorthCountry. “Rhino Foods Foundation and its collaborative community partners (United Way, FINRA, Filene Research Institute) have grown the IA program at nearly 50 Vermont businesses. NorthCountry made over 1,200 IA loans totaling nearly $1.6 million in 2019. The funding from NorthCountry will help organize and educate business leaders across Vermont about the implementation and successes of IA.”
NorthCountry is open to anyone who lives or works in northern Vermont and is headquartered in South Burlington. It provides financial services designed to provide convenience and value, and commits 10% of its previous year’s net revenue to community giving. It was organized in 1950, and is the third largest credit union in Vermont.
Source: South Burlington – NorthCountry Federal Credit Union 2.18.2020