First Calgary Financial has been recognized by Vibrant Communities Calgary with the “Living Wage Leader” designation, becoming the third largest corporation in Calgary to take this bold step. “Poverty is a man-made condition, and we all have a responsibility to solve it,” said John Dundas, First Calgary Financial’s Senior Vice President of Strategy & Operations. “All Calgarians deserve to be paid a Living Wage to meet their basic needs, maintain a safe, decent standard of living and save for their future.”
For the past five years, all First Calgary Financial employees have earned a Living Wage, or more. First Calgary Financial has exceeded program requirements by encouraging their suppliers to pay a Living Wage and preferentially sourcing from Living Wage employers.
“We’ve worked closely with First Calgary Financial for years and we’re thrilled to count them among our Living Wage Leaders,” says Dan Meades Director of Vibrant Communities Calgary. “You can’t address poverty without addressing income, and work-based wages are a key part of that. Adequate compensation is the most fundamental way in which we can prevent people from living in poverty, and we’re proud to recognize those that incorporate this in company policies.”
What is a Living Wage? A Living Wage in Calgary amounts to $12.50/hour with benefits and $13.75/hour without benefits, based on Canada’s Low Income Cutoff for an individual living in a city, which stands at $22,667 annually.
Launched in 2009 with the Calgary Chamber, Vibrant Communities Calgary’s Living Wage Leader program recognizes community leaders committed to paying employees a Living Wage. Fair compensation is among the most powerful of corporate social responsibility initiatives when it comes to improving customer loyalty and corporate income. It reduces staff turnover and training costs, and increases productivity. Paying Living Wages has also been shown to increase local spending and improving the local economy.
About Vibrant Communities Calgary — Vibrant Communities Calgary is a non-profit organization that works collaboratively with various stakeholders and partners, to engage Calgarians and advocate for long-term strategies that address the root cause of poverty in Calgary. For more information, visit vibrantcalgary.com.
About First Calgary Financial — Recognized as one of the Most Admired Corporate Cultures in Western Canada, First Calgary Financial is Calgary’s only locally-owned, full-service financial institution and the ninth largest credit union in Canada, with assets under administration exceeding $3 billion. We provide service through 16 branch locations; telephone, internet and mobile banking; a Contact Centre and Automated Teller Machines to over 80,000 members in the greater Calgary area. Our services include: Retail Financial Services, Business Banking, Consumer Financing and Investment Services. First Calgary Financial has also been named one of Canada’s 50 Best Managed Companies for 12 consecutive years by the National Post and one of Alberta’s Top 55 Employers by Mediacorp Canada. First Calgary Financial’s 500 employees are proud to be leading, learning and living in the communities they serve. For more information, visit firstcalgary.com.