Pros
- Better pay than other FI’s - Opportunity for bonus
Cons
- Went through a merger last year. Leading up to the merger, executive leadership promised on all employee calls, that there would be no layoffs and everyone would have a job after the merger. This seemed like a crazy promise to make as there is going to be some overlap in a merger and not everyone can keep their job. Sure enough, a few months later, mass layoffs occurred and our CEO came onto an employee live and when asked about this stated “no one is promised a job forever”. It felt very cold and shady and would have been better if they were upfront about the layoffs from the start. A huge culture shift was felt after this point and a huge distrust in executive leadership. - It was a laid back culture when I first started and very low pressure. It has now shifted to sales culture and is just like any big bank. They will say it’s about putting members first and sales will follow but the targets they give you are unrealistic with no chance of reaching them. Only new money counts towards your targets. If the money has been sitting in a savings account for years and you move it into an investment, it doesn’t count towards your targets, you don’t get reward for setting up new accounts, and you don’t get rewarded for restructuring debt. Really hard to achieve a $10M+ GIC target when rates are so low and most people are switching to mutual funds. They also offer poor products and poor interest rates that makes it hard to win business. - Salaries are capped and limited room for growth. - Very expensive benefits, over $4000 per year for benefits (extended health, LTD, STD)
