Community Savings Credit Union

Guest Blog: Why we’re proud to support the Living Wage campaign

Ed Sue is Marketing Manager for the Community Savings Credit Union. In this blog he shares why they are a Living Wage Employer. 

Imagine having to choose between rent and groceries? Or between childcare support and paying off your utility bills? The choice seems impossible. Yet for working parents on minimum wage salaries in British Columbia, that is the choice they are faced with every day.

In Metro Vancouver, the hourly Living Wage required for two working parents to meet the basic needs of a family of four is $19.50. But right now, British Columbia’s minimum wage falls short of that target. Even after the Province raises its minimum wage in June 2021 from $14.60 to $15.20 an hour, British Columbians will still be earning $4.30 an hour less than they would be on a Living Wage salary.

For families in Metro Vancouver on minimum wage, unaffordable living and financial insecurity is sadly the reality – but it doesn’t need to be.

Community Savings Credit Union was the first financial institution in British Columbia to commit to paying all of our employees a Living Wage. We joined the movement back in 2010 – over 11 years ago – and we have only become stronger advocates of the campaign since.

As a purpose-driven financial institution that believes in building a better British Columbia for all working communities, Community Savings initially joined the Living Wage movement because it aligned with our core labour values. Namely, to provide workers with a fair wage for fair work. However, we now know that the Living Wage campaign is more than that: it’s about creating a just and equitable British Columbia.

Paying workers a Living Wage helps to lift families out of poverty by providing them with greater financial security. It bolsters emotional and mental wellbeing, and promotes social inclusion. By becoming a Living Wage Employer, Community Savings has not only committed to its 75 employees that it will always pay them a fair wage, but has also shown them that we are an organization that puts purpose before profit.

To employers that are on the fence about whether or not to join the Living Wage movement, the answer can only be yes. Being a Living Wage employer shows your workers that you care about them. Yes, it can help bolster employee productivity, but most importantly it supports employee emotional wellbeing, which in turn has a positive impact on job retention and company loyalty.

Community Savings Credit Union is proud to be a Living Wage Employer. We are proud to put our staff first, and we are committed to building a British Columbia that is fair, just and equitable. We hope that you will also join the Living Wage movement.