Notre Dame Federal Credit Union will increase its minimum wage to $14 per hour, effective Feb. 2018, the Notre Dame, Ind.-based CU announced today.
This is the second year in a row that the $530 million-asset institution has announced a lift in its starting wage. Last year, the credit union went public with its plans to boost starting wages to $13.50 per hour and eliminated its two-tier system for paid time off for exempt and non-exempt employees.
Notre Dame 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. In December of 2016, Merritt Island, Fla.-based Launch FCU raise its minimum wage to $12 per hour.
“Our staff consistently delivers incredible service to our members,” Thomas Gryp, president and CEO of Notre Dame FCU, said in a press release. “That performance increases member loyalty, which in turn enables us to share our credit union’s success with the people who make that loyalty possible … As a credit union, we do not exist to maximize profits. We are here to better the financial lives of our members. Continuing to ensure all our partners earn a meaningful wage is just an extension of that same mission.”