The Weyburn Credit Union recently announced that they have joined the movement and have received certification as a Living Wage Employer. Receiving this certification resulted in two Saskatchewan firsts for Weyburn Credit Union — they are the first employer to receive this certification outside of Saskatoon and they are the first credit union to be certified in the province.
“We believe that it is our corporate responsibility to pay a living wage; it’s just the right thing to do for our employees, our members and our community,” said Val Ness, vice president of Human Resources for the Weyburn Credit Union. “By paying a Living Wage, we are investing in our staff and our community and setting ourselves apart from other employers. Weyburn Credit Union strives to be ‘Different by Design’ and by being Weyburn’s first Living Wage employer, we hope we can inspire other employers to follow in our footsteps.”
A living wage is not the same as the minimum wage, which is the legal minimum all employers must pay. The living wage sets a higher standard — a living wage reflects what earners in a family need to bring home based on the actual costs of living in a specific community. Necessities like food, shelter, childcare, and transportation are all included, while extras like vacation spending are left out. This approach generates a wage, which allows for a family to live a healthy and secure life. As a Living Wage Employer, Weyburn Credit Union pledges to always pay at or above the Living Wage, which will be calculated on an annual basis going forward. Weyburn’s living wage was calculated at $15.59 per hour.
The Weyburn Credit Union started their Living Wage certification in 2016, when they contacted the Canadian Centre for Police Alternatives to learn more about the certification process. The Canadian Centre for Police Alternatives put the Credit Union in touch with the Living Wage-Saskatoon, who has provided the support throughout the process.
“The first step was to have the living wage calculated for Weyburn, as the rate will be different in each community. Our HR Generalist, Ashley Betker, worked with a professor from the University of Regina who provides professional research for the Canadian Centre for Policy Alternatives to complete the calculation,” said Ness.
“The Living Wage for Families has a calculation that is used across Canada and is based on the living expenses for a family of four with two children, ages four and seven, and both parents working full time. Living expenses are calculated in 10 categories: food, clothing, and footwear, shelter, transportation, child care, medical insurance, parent’s education, contingency fund and other expenses such as personal care, household supplies. The cost of government deductions and the value of government transfers like the Canada Child Tax credit are also factored into the calculation,” said Ness. The Weyburn Credit Union provided the local expense information required, such as housing, child care rates and other factors.
Once the living wage rate was determined, the Weyburn Credit Union submitted their application to the Living Wage-Saskatoon. A committee of certified Living Wage employers who announce the new certifications on a semi-annual basis reviewed the applications.
“Now that the living wage has been calculated for Weyburn, the application process will be easier for interested employers,” said Ness. Weyburn Credit Union is looking into the possibility of arranging a presentation on the Living Wage for the local business community. They are eager to work with other local employers who want to learn more about how they can improve the quality of life in the community as a living wage employer.
Serving over 8,770 members for over 70 years, Weyburn Credit Union is a member-owned, full-service financial institution. Weyburn Credit Union offers a full range of financial products and services for personal and business banking, as well as wealth management and financial planning services. Membership is open to everyone.
