SEATTLE — Amazon is adding lifetime membership in First Tech Federal Credit Union as a new financial benefit for qualified employees and their families as part of a broader compensation package that also includes more than $1.5 billion in higher wages and new discounts on groceries and everyday essentials.
Amazon has more than 1.5 million employees.
The new program, called Day 1 Financial, will provide qualified Amazon employees, their spouses and children with access to membership in the $28-billion First Tech membership that can continue for life, including after the employee leaves Amazon, according to the company. The benefit will begin rolling out in late 2026 and is expected to become broadly available in 2027.
While the program was announced as being something “new,” the membership for Amazon employees is the basic, traditional select employee group (SEG)-based membership that is as old as credit unions themselves, and “lifetime membership” is a feature of membership at nearly all credit unions, as well.
Amazon announced the credit union partnership as it said it is raising minimum starting pay for full-time U.S. core operations employees to $20 an hour. Average hourly pay for those workers will reach nearly $24, while average total compensation will exceed $32 an hour when benefits are included.
First Tech Membership Offered for Life
Amazon described Day 1 Financial as a low-cost banking benefit intended to give employees and their families additional tools to manage their finances and plan for the future. Under the program, standard First Tech checking and savings accounts will have no overdraft fees, monthly maintenance fees or account minimums. No credit history will be required to open checking and savings accounts.
Members will also have access to thousands of surcharge-free ATMs nationwide and up to $300 annually in reimbursements for out-of-network ATM fees.
Other services include mobile and online banking, direct deposit and credit-building programs designed to encourage emergency savings and improve financial stability. Employees who qualify will also have access to the San Jose, Calif.-based First Tech credit cards, auto loans and home loans, the organizations said.
Amazon said the First Tech program expands on financial assistance already available through Brightside Financial Care, a free service that connects employees with financial assistants who can help with budgeting, debt and student-loan management, emergency expenses and understanding employee benefits.
More than 150,000 hourly Amazon employees have used Brightside since 2022, the company said.
Amazon Investing $1.5 Billion in Higher Pay
The First Tech benefit is part of a broader package Amazon said is intended to increase employee compensation and reduce everyday expenses.
Amazon said it is investing more than $1.5 billion in higher pay for U.S. core operations employees.
Eligible employees will receive a $1-an-hour increase, bringing the minimum starting wage for full-time core operations workers nationwide to $20 an hour and average hourly pay to nearly $24.
Amazon said many of those jobs require no previous experience.
When the value of benefits is included, average total compensation will exceed $32 an hour, according to the company.
Amazon also has an annual step plan under which employee pay increases during a worker’s first three years with the company. The company said its minimum starting wage has increased more than 17% during the past three years.
Grocery Discounts Coming Oct. 1
Amazon is also introducing grocery and everyday-essential discounts for all of its U.S. employees beginning Oct. 1.
Employees will receive an uncapped 10% discount on eligible groceries and everyday essentials purchased through Amazon.com and Whole Foods Market online.
They will receive an uncapped 20% discount on purchases made in Whole Foods Market stores, including purchases from hot and salad bars.
The discounts will apply to purchases made through an employee’s Amazon account and can be combined with existing Prime member discounts.
The announcement follows Amazon’s separate investment of more than $230 million in higher pay and expanded benefits for Whole Foods Market workers. More than 100,000 U.S. Whole Foods employees are expected to gain access to Amazon’s broader benefits package.
Builds on Existing Benefits
Amazon said the new programs will supplement benefits already available to eligible workers.
Regular full-time employees have access to health care from their first day of employment, including an Essential Plan costing as little as $5 a week with $5 copays.
Eligible workers also receive a free Prime membership.
Amazon also noted its Career Choice education program provides prepaid tuition of up to $5,250 annually through more than 475 education partners, allowing employees to pursue degrees or certificates.
Other existing benefits include a 401(k) with a company match, paid parental leave, flexible time off and 24/7 mental health support through Resources for Living.
Udit Madan, senior vice president of Amazon Worldwide Operations, said the company evaluates employee compensation by looking beyond wages to the broader collection of benefits available to workers and their families.
Amazon said its latest investments are intended to increase employees’ earnings while reducing health care, grocery and financial-services costs and providing resources that can continue to benefit workers over the longer term.
