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RBFCU Raises Minimum Pay to $18, Reflecting Upward Trend Across Industry

Other credit unions are making similar moves as employee turnover pressures rise.

Chart showing the hourly pay and benefits offered to employees at the top 10 credit unions in the U.S.

Randolph-Brooks Federal Credit Union announced Monday it has raised its starting pay to $18 per hour, joining the ranks of credit unions, banks and other businesses that have decided to increase their starting pay well above minimums required by law.

President/CEO Christopher O’Connor said the salary increase from $15 per hour to $18 is essential to acquiring the talented workforce necessary to carry out the credit union’s mission of improving its members’ economic well-being and quality of life.

“This increase to $18 per hour is one investment RBFCU is making that ultimately shows how we care about our members,” O’Connor said. “By increasing starting pay 20%, we are confident the response will be even better levels of service by employees who know they are being competitively compensated.”

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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