In an industry leading move, Security Service Federal Credit Union announced it is increasing the minimum wage for employees from $15 an hour to $20 an hour.
“This move is about people, and how we enable our best and brightest talent to be successful at work and in life,” said Jim Laffoon, president and chief executive officer of Security Service Federal Credit Union. “This action sends a message to our employees that we not only value them, but that they are a key success factor in achieving the future we want for our company and for our members.”
One of the largest credit unions in the country, Security Service has more than 1,900 employees and locations throughout Texas, Colorado and Utah.
“We have employees located throughout the country,” said Cindy Moran, executive vice president and chief human resources officer for Security Service Federal Credit Union. “Staying competitive with wages, a robust benefits package, and 401k plan, allows us to retain the best talent and provide the high level of service our members deserve.”
The increase will impact nearly 400 employees, with the largest percentage being those who serve the credit union’s members in branches and through the member contact center.
“Our employees give us a competitive advantage and every job in our credit union is valued,” said Laffoon. “This move is not only an investment in them, but an investment in the future of the credit union and the members we exist to serve.”
The new hourly rate will go into effect for current employees at the end of the month and will also be in effect for all new hires moving forward. With more than $10 billion in assets, the credit union serves more than 803-thousand members and is headquartered in San Antonio, Texas.