Winston-Salem, N.C.-based Truliant Federal Credit Union will raise its minimum wage from $13 to $15 per hour, effective April 2, 2018.
The $2.2 billion-asset credit union announced the wage hike after reevaluating its compensation structure.
The federal and North Carolina state minimum wage is $7.25 per hour, according to the United States Department of Labor.
Truliant also offers an employees benefit package that includes medical, dental and vision and short-and long-term disability. Employees are also provided with a pension plan, 401(K) with matching employer contributions and life insurance benefits.
“In offering a higher wage to our dedicated team members, we are acknowledging their significant contributions to improving the financial lives of our member-owners,” Todd Hall, president of Truliant, said in a press release. “We aspire to support our employees and communities in substantive ways. This increase is an investment in our most valuable asset, our team members. They are the key to our past and future success.”
Sherri Thomas, senior vice president of human resources at Truliant, added in the release: “The mission of our credit union includes putting members’ best interests first. To help deliver on that mission, Truliant strives to ensure that we are attracting and retaining highly talented employees to create a positive member experience. Engaged employees are the key to our more than 226,000 members feeling connected to Truliant.”
Truliant is the latest credit union to boost its starting wage to better reflect rising costs of living and the nationwide push for a living wage. In January of this year, $757 million Launch Federal Credit Union based in Merrit Island, Fla. raised its minimum wage to $12.50. In February, $530 million Notre Dame Federal Credit Union based in Notre Dame, Ind. increased its minimum wage to $14.