“This was our opportunity to recognize and support employees…in creating greater stability in meeting their financial obligations”
Media Contact: Barbara Fornasiero; EAFocus Communications; firstname.lastname@example.org; 248.260.8466
Wyandotte, Mich. — June 14, 2021 — Recognizing the need to increase staff pay amid pandemic recovery, Michigan Legacy Credit Union (MLCU) announced a pay hike for its minimum wage employees from $13 per hour to $16 per hour – a 23% increase. The updated rate applies to both current staff and new employees coming on board and was effective Friday, May 7.
The announcement was made by MLCU President and CEO Carma Peters, who added that after one year of employment with the credit union, the rate jumps to $18 per hour for employees.
MLCU—with branches in Flat Rock, Garden City, Highland, Pontiac, Warren and Wyandotte—took three factors into consideration in making the decision: the need for attracting quality candidates in a competitive job market; the ability to lower attrition of current staff; and the importance of providing a livable wage to employees.
“Hiring and retaining highly-qualified personnel is critical for our credit union to remain competitive with other financial institutions and provide leading financial services to our member owners; but, this decision was more than that,” Peters said. “We believe all staff should make a livable wage. This was our opportunity to recognize and support our employees and help them create greater stability in meeting their financial obligations.”
About Michigan Legacy Credit Union
Michigan Legacy Credit Union (MLCU) is a member-owned, not-for-profit financial cooperative serving members who live, work, worship, attend school, or own a business in the state of Michigan. Michigan Legacy Credit Union is committed to providing quality financial services at a competitive price, delivered professionally and efficiently while keeping member/owners and their needs first. For additional information on MLCU, visit: www.michiganlegacycu.org.