Coastal Credit Union Increases Minimum Wage to $15

Joe Mecca

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Published on 03-29-2018

Categories: Coastal News

Coastal Credit Union announced that it has increased its company minimum wage for all employees to $15 per hour. This is an increase from the $12.50 hourly wage the credit union implemented in late 2016. The new $15 hourly wage was made effective in the March 14 payroll and affects 50 employees, or 10 percent of Coastal’s workforce. 

“Our employees are a critical component to our success, and taking care of them is the first step in corporate responsibility,” said Coastal’s President and CEO, Chuck Purvis. “Back when we first implemented an internal minimum wage, our primary goal was to ensure we’re doing our part to help anyone working here to avoid poverty.”

Purvis added, “Today, we’re taking that a step further. We find ourselves in a highly competitive jobs environment and need to set ourselves apart in order to continue to attract and retain talent at all levels of the organization. We offer a very generous compensation and benefits package, but we know that the biggest difference we can make for an employee, particularly at the entry level, is in their wages.”

Coastal employs more than 500 employees and has routinely earned awards for being a top employer, both locally and within the credit union industry.

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