BFWCU is latest Living Wage employer
16 Feb 17
Blackpool Fylde and Wyre Credit Union (BFWCU) has become an official Living Wage Employer.
The accreditation is given to companies which provide all employees with a salary of at least the Living Wage, which is £8.45 per hour, compared to the minimum wage of £7.25 an hour. This can equate to an additional £180 a month for someone in full-time work.
The credit union, which offers savings and lending facilities to people across the Fylde Coast, employs 5 people at its branch in Blackpool’s Birley Street.
BFWCU Chief Executive Mike Barry said it was important for employers to embrace the ethics of the Living Wage Foundation, and was pleased to be among those leading the way.
He said: “A living wage is a fundamental necessity for a fair society to function, and practically speaking, it is vital in order for people to have financial security. We have long supported this ambition and paid above the minimum wage, and are pleased to have now been recognised officially by the Living Wage Foundation.
“For companies in Lancashire, offering the living wage is not only morally right, but it is also good for business in terms of attracting and retaining good quality employees. Investing in your workers means investing in your town and all of the benefits that has for the local economy.
Blackpool Fylde and Wyre Credit Union serves more than 5,000 members across the local area, with savings in excess of £5 million. Since the credit union was established in 2009, it has loaned out more than £10 million to people in the local community.
Mike Barry added: “Keeping money within our community is what the credit union is all about, and so we’re keen to raise awareness of the Living Wage Foundation initiative which could do so much to help people struggling on the edge of poverty.”