Peoples Bank Increases Minimum Wage
July 1, 2021
Bellingham, WA – July 1, 2021 – Effective today, Peoples Bank announced it would raise its base minimum hourly wage for all hourly employees to $17, with market adjustments in Snohomish and King counties. The base minimum wage in Snohomish County will be adjusted to $18.70; in King County, the base minimum wage will be adjusted to $19.55. The Bank also shared its commitment to maintaining its minimum wage at approximately $3 per hour above the state minimum wage, along with cost-of-living adjustments. In addition, customer-facing hourly employees who are "business proficient" in Spanish, Russian, Punjabi, or Mandarin/Chinese will receive a $1 per hour pay differential. The wage adjustments will impact approximately 130 hourly employees who will receive roughly $350,000 in annual raises.
“Peoples Bank believes offering customers a full relationship banking experience with the highest level of service starts with taking care of our people,” said LaVonne Olsen, Senior Vice President, Human Resources Director at Peoples Bank. “Our compensation philosophy is focused on offering employees a living wage and supporting them in their careers, at home, and in their communities."
Peoples Bank makes it a top priority to recruit and retain motivated professionals with enthusiasm for the business, who place value on delivering superior customer service, and who conduct themselves with absolute integrity in everything they do. The wage increase announced today is a core component of the Bank’s total compensation package that includes investments in:
Benefits & Recognition
Peoples Bank’s benefits programs support professional growth and health and well-being and include recognition programs for employees who model the Bank’s values of honesty, integrity, respect, and commitment. Benefits include 100% Bank-paid core medical, dental, and vision employee premiums, cost-sharing of dependent coverage, Health Savings Account with $125 monthly employer contribution, and a 401(k) plan with a 100% employer match up to 8% of an employee’s annual salary.
Peoples Bank’s employee wellness program, WholePeople, includes a $200 wellness reimbursement, paid time off for community service and wellness-related activities, and other benefits designed to promote a healthy mind, body, and community.
Training & Development
Peoples Bank provides ongoing training opportunities for employees at all levels to support career development and ensure a fulfilling and challenging work environment.
A Commitment to Community Service
The Bank’s investment in people extends to its local communities through its Community Giving program, which encourages employee volunteerism by providing opportunities for civic involvement and paid time off.
To learn more about career opportunities and the benefits of working at Peoples Bank, please visit https://www.peoplesbank-wa.com/careers.
About Peoples Bank
Peoples Bank is a locally owned and operated, independent full-service community bank with $2.6 billion in assets. Headquartered in Bellingham, Washington, Peoples Bank has been serving the community for 100 years and operates 23 branches throughout Washington. Reflecting its strong financial management practices, dedicated employees, and long-standing customer relationships, Peoples Bank was awarded a superior five-star rating from BauerFinancial, a leading independent bank rating firm. Learn more about Peoples Bank at https://www.peoplesbank-wa.com/.