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NewsCredit Union celebrates Living Wage Commitment
Credit Union celebrates Living Wage Commitment

The Living Wage Foundation is pleased to announce that not-for-profit community bank, Wolverhampton City Credit Union, has today been accredited as a Living Wage employer.

The Living Wage commitment will see that everyone working at Wolverhampton City Credit Union, regardless of whether they are permanent employees or third-party contractors receives a minimum hourly wage of £8.45 - significantly higher than the national minimum wage of £6.95 and the new minimum wage premium for over 25s of £7.20 per hour introduced this April.

Credit union manager Matt Goulding said: “Becoming a Living Wage employer is absolutely in keeping with our commitment to being a fair and ethical business dedicated to the financial inclusion and security of our members. We achieve this by valuing our employees as much as our members and our board of volunteer directors. We’re delighted to be one of the few employers in the city and the sub-region we serve to have achieved accreditation. In a small but significant way, we’re contributing to our employees’ greater financial security - and boosting the local economy.”

Administrative assistant Jazzmynne Dixon who started her career at the credit union as an apprentice: “It’s great to work for an organisation that cares about its staff. That’s the best motivation for working hard and doing our best for our members.”

Paid by employers on a voluntary basis, the Living Wage is an hourly rate set independently and updated annually and is calculated according to the basic cost of living using the ‘Minimum Income Standard’ for the UK.

Living Wage Foundation Director, Katherine Chapman said: “We are delighted to welcome Wolverhampton City Credit Union to the Living Wage movement as an accredited employer.“The best employers are voluntarily signing up to pay the Living Wage now. The Living Wage is a robust calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day’s pay.

“We have accredited nearly 3,000 leading employers, including Wolverhampton City Credit Union, ranging from independent printers, bookshops and breweries, to well-known companies such as Nationwide, Aviva and SSE. These businesses recognise that clinging to the National Living Wage is not good for business. Customers expect better than that."

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