Bangor Savings Bank
raises minimum wage for employees
BANGOR — Bangor Savings Bank announced last week that it has raised the minimum rate it pays employees to $13 per hour.
The bank has been increasing minimum entry-level hourly pay over the past two years, in support of its objective to pay a living wage to all employees, regardless of location or whether they are full-time, part-time, or temporary. The new policy took effect this month.
Bangor Savings Bank President and CEO Bob Montgomery-Rice recently made the announcement to all employees in a bank-wide call. “We fully recognize that all positions at Bangor Savings Bank, including those often categorized as entry-level, are complex and involve a high degree of responsibility,” he said. “Every employee genuinely contributes to the success of our company and is a key reason the bank has been named ‘Highest Customer Satisfaction with Retail Banking in the New England Region’ by J.D. Power for 2015. This newest increase in our Living Wage Initiative illustrates just how valued every employee is.”
The bank has experienced strong growth over the past 10 years, which has allowed for significant investment in technology and banking systems that are designed to improve the customer experience and ensure banking security. Bangor Savings Bank has also been an industry leader in economic development and community investment through a number of initiatives, including its annual Community Matters More and small business lending programs.
Bangor Savings Bank is equally committed to investing in its employees — primary contributors to the bank’s success. “The decision to pay an above-market minimum starting hourly rate, accompanied by our comprehensive suite of benefits, comes with high expectations for quality performance. It is essential that each and every one of our 740 employees demonstrates a strong work ethic, that they are fully engaged while at work, and that they share our unwavering commitment to an exceptional customer experience,” said Montgomery-Rice.
In recognition of its efforts to establish and foster an outstanding workplace environment, Bangor Savings Bank was named a Best Place to Work in Maine by the Society for Human Resource Management’s Maine State Council (MESHRM) in 2008, 2010, 2011, 2012, 2013, 2014 and 2015.
