Can you give monetary compensation to employees who volunteer their time for CRA related activities?

This is a chicken or an egg question. If they volunteer, then it is on their own time. If it is on their own time, how does the bank get credit for it? If they are acting on behalf of the bank, you have to pay them for their time if they are not FLSA exempt. If they are FLSA exempt, isn't this already a part of their job? Anyway around, it would be W-2 wages.