Provincial Credit Union Ltd.
The team at Provincial Credit Union's Alberton branch in PEI  

Recognized as one of Canada's Top 100 Employers (2024):

Here are some of the reasons why Provincial Credit Union Ltd. was selected as one of Canada's Top 100 Employers (2024):

  • Provincial Credit Union supports new and adoptive parents with maternity and parental leave top-up (to 75 per cent of salary for up to 26 weeks) and offers paid time off for employees to attend to personal matters that cannot be taken care of outside working hours (up to 30 hours per year for full-time employees)
  • Provincial Credit Union encourages employees to give back to the local community with two paid days off to volunteer and the Pay it Forward initiative, providing employees with $50 to "pay it forward," whether used as a donation to a charity they love or to buy a grocery gift card for a family in need -- the only parameter is to keep initiatives local
  • Provincial Credit Union helps employees throughout their careers, from low-interest personal and home loans to matching RSP contributions as well as contributions to a defined benefit pension plan
Employees at Provincial Credit Union's Charlottetown branch, Sandrine (left), Craig (center), and Dhane (right)  

Employer Background

Industry Credit union
Established in Canada 2021
Major Canadian locations Tyne Valley PE, Tignish PE, Stratford PE, North Rustico PE, O'Leary PE, Montague PE, Kensington PE, Wellington PE, Charlottetown PE, Alberton PE
Full-time employees in Canada 178
Part-time employees in Canada 15
Workforce engaged on a contract basis 0.04%
Average age of employees in Canada 46 years
Longest serving employee 41 years

Work Environment Rating: B

Flexible work options hybrid work option, flexible work hours, telecommuting, shortened work week (fewer hours with less pay), compressed work week, job-sharing program (50/50 split between two employees)
Commuter amenities walk to public transit, free parking, electric vehicle charging stations
Onsite workplace features telecommuter workstations, sit-stand workstations, self-serve lunchroom
Employee lounge amenities comfortable seating, television

Work Atmosphere & Communications Rating: B+

Employee social committee name PCU Social Committee (est. 2023)
Past social events in-person summer event and a November party for employees and their spouses
Cultural aspects business-casual dress daily, casual dress Fridays, music while working
Employee communications intranet site, company newsletter, traditional/email suggestion box

Financial Benefits & Compensation Rating: A+

Outside salary surveys participates in outside salary surveys every 24 months
Employee salary reviews individual salaries are reviewed every 24 months
Long-term savings defined-benefit (DB) pension, matching RSP
Long-term planning phased-in retirement work options, life & disability insurance
Year-end bonuses available to all employees
Referral bonuses (max) new employee referral bonuses (up to $1,500) for some positions
Additional financial benefits corporate discount program (e.g. retail, services, travel, etc.), low-interest home loans, low-interest personal loans, reduced banking and credit card fees, annual clothing allowance (up to $750 per year)

Health & Family-Friendly Benefits Rating: A

Health plan premium as part of the health plan, the employer pays up to 100% of the premiums
Minimum hours worked for coverage 19 hours per week
Waiting period for coverage 90 days
Family coverage option yes
Retiree coverage option up to 65 years of age
Dental coverage routine, restorative, orthodontics
Eyecare $250 every 2 years
Paid sick days employees receive 10 days off each year
Health plan includes traditional coverage (e.g. prescription drugs), employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. acupuncture, naturopathy), virtual healthcare services
Mental health practitioner benefit up to $2,000 each year
Fitness club subsidy up to $200 each year
Additional health plan information retirees can stay enrolled in the health plan (until age 65) with sliding premium coverage based on years of service (from 25% to 75% premium coverage)
Maternity top-up (mothers) up to 75% of salary for 26 weeks
Parental top-up (fathers) up to 75% of salary for 26 weeks
Adoption top-up up to 75% of salary for 26 weeks
Additional family-friendly information personal days/time off (30 hours annually) can be used to take care of personal matters during work hours (part-time employees also receive a pro-rated personal time allotment), academic bursary program for children of employees (to $500) pursuing post-secondary studies after high school graduation

Vacation & Personal Time-Off Rating: B+

Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 5 years of employment
Maximum vacation allowance employees move to a maximum of 6 weeks of vacation over their career
Personal paid days off employees can schedule 4 personal days off each year, as needed

Employee Engagement & Performance Rating: B+

Employee performance reviews employees receive individual performance reviews every 6 months
Exit interview exit interview option is available for departing employees
Performance recognition individual performance bonuses, peer-to-peer recognition awards, long-service awards
In-house survey period in-house surveys are conducted every 2 months

Training & Skills Development Rating: B

In-house training initiatives mentoring, in-house training, online training, leadership development programs, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes

Community Involvement Rating: A

Scope of charitable involvement local
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer, (up to 2 paid days)
Total number of charities supported last year approximately 250 charitable and community organizations were supported last year
Some of the community organizations supported Local 2 Loyal Challenge, PEI Connectors, PEI Business Women's Association, academic scholarships (available to students province-wide), Rock the Boat Music Fest, Tyne Valley Oyster Festival, 2023 Canada Winter Games in PEI (sponsorship)
Community highlight Provincial Credit Union's charitable program is built around support for local initiatives, providing each of the departments with a budget to encourage "Random Acts of Kindness" in their community. Employees decide what organizations and individuals to support, from paying for groceries, to providing treats at a local daycare to giving a gift card. Employees are also given $50 to pay forward in whatever way they decide -- the only condition is to keep it local.

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