SEATTLE–If they haven’t already done so, credit unions and other employers across the country will likely feel additional pressures to raise their minimum wage following a move by Amazon to
pay at least $15 an hour for all U.S. employees.
It’s a change a number of credit unions nationally have already made.
The change at Amazon takes effect Nov. 1 and applies to full-time, part-time and temporary workers. The company said the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers.
"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," said Jeff Bezos, Amazon's founder and CEO, said in a statement. "We're excited about this change and encourage our competitors and other large employers to join us."
For Amazon, the new minimum wage will not mean big pay increases for many of its employees, with the company saying the average hourly wage for a full-time associate in its fulfillment centers is already more than $15 per hour.
Amazon also said its public policy team will begin lobbying for an increase in the federal minimum wage, which has been $7.25 an hour since 2009.
Target announced last month it would raise its minimum wage to $11 an hour and $15 by 2020, while Disney said it will begin paying a minimum of $15 an hour at Disneyland in California in 2019 and at Disney World in Florida by 2021.
And Walmart, the country's largest private-sector employer, which has more than 1 million US workers, raised its minimum wage to $11 in February.
‘Profound Impact’
Jay Carney, Amazon's senior vice president for global corporate affairs, pledged that the company would advocate a minimum wage increase "that will have a profound impact on the lives of tens of millions of people and families across this country."
CUToday.info has already reported on a number of credit unions that have raised their minimum wage to $15 an hour, including UWCU in Wisconsin, Hawaii USA FCU, EFCU Financial Credit Union in Louisiana and Coastal Credit Union in North Carolina.