RALEIGH, N.C. ( March 29, 2018 ) – 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 the we know that the biggest difference we can make for an employee, particularly at the entry level, is in their wages.”
Coastal Credit Union is a not-for-profit, member-owned, financial cooperative, offering a full range of financial products and services. Coastal was chartered on August 31, 1967 with the mission of fostering the credit union philosophy of “people helping people.” Today, with $2.9 billion in assets, Coastal serves 245,000 members from 1,700 business partners and is among the leading financial institutions in North Carolina. Coastal operates 22 branches in central North Carolina and serves members in all 50 states through a network of 5,000 shared branches, 80,000 surcharge-free ATMs, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com.