Bank Gives Employees $1,000 to Spend on Needy
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A bank is giving its full-time employees $1,000 each and part-time employees $500 each. There's one condition — use it for people in need.
State Bank & Trust Chief Operating Officer Michael Solberg said each full-time employee will receive $1,000 and each part-time employee will receive $500, as part of a $502,000 "Pay it Forward" initiative.
"We're going to really see some huge impact on our community," Solberg said.
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Employees were told not to use the money for themselves, their families or families of other bank employees. The bank asked each employee to document the good deed with a video camera. The deadline is June 30.
The employees were told they may choose an individual cause, pool their money for a larger project or collaborate with donors outside the bank. The privately owned bank has more than 500 employees, he said.
The bank made the announcement over the weekend.
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In previous years, the Fargo-based bank has taken 5 percent of the company earnings and divided it up at holiday time among employees.