Launch Federal Credit Union will increase its minimum wage to $12.50 per hour, effective Jan. 2018, the Merritt Island, Fla.-based CU announced today.

In December 2016, Launch raised its minimum wage to $12 per hour. The CU has committed to raising its minimum wage every year.

Launch FCU is the latest among a wave of CUs to raise the employees’ base pay amid a nationwide push to raise the federal minimum wage. University of Wisconsin Credit Union increased its base pay to $15 per hour in August of this year. Notre Dame Federal Credit Union announced a wage hike to $14 per hour, effective Feb. 2018.

Joe Mirachi, president of Launch Federal Credit Union
Joe Mirachi, president of Launch Federal Credit Union

“This year, because of the strong growth we have experienced, we again are raising the minimum wage,” said Launch FCU President Joe Mirachi. “We also realize that to attract the best talent to join our team, we need to prove their value with a higher pay than what they can earn elsewhere. We believe increasing the minimum pay at the teller level will encourage locals seeking employment to consider joining our team. This new talent will provide a strong pipeline of well-trained individuals who will be excited to advance their careers within Launch FCU.”