Chelsea-based Metro Credit Union will pay an annual salary of at least $50,000 through a new program that will require employees to learn at least one skill outside their job function.
The initiative, which the credit union is calling the “universal program model,” will pay the $50,000 annual salary to all new retail branch and service center employees, Metro Credit Union said in a statement.
These employees will need to learn at least one additional skill outside of their primary job responsibilities, such as assisting Metro’s lending division, answering calls or emails, operating an interactive teller machine, or engaging with members digitally through video banking or chat. Each new skill learned will provide employees with a fixed bonus each quarter, the statement said, increasing their total annual compensation.
The new salaries begin on July 1, the statement said, and existing employees can participate in the program.
“Metro continues to experience rapid growth having recently increased its branch footprint by 25 percent since the end of 2021,” the statement said. “As employees continue to join the credit union, Metro is proud to offer competitive pay with one of the highest starting payrates for entry-level employees in the industry.”
The new minimum salary will result in an hourly rate of about $24 per hour.
Branch and service center supervisors in the program will earn annual pay of $52,000. Staff members designated as universal service specialists – employees who will assist in various areas of the credit union – will have multiple skills as part of their primary job function and earn at least $55,000. These floating employees can earn additional compensation through existing bonus programs already available at Metro, the statement said.
“As the cost-of-living surges across the state and country, and the threat of an economic downturn looms on the horizon, it is crucial that we provide additional earning opportunities to our employee base,” Robert Cashman, Metro Credit Union’s President and CEO, said in a statement. “By offering resources and training employees to need to master new skills, we not only uplevel our entire organization, but also impact the career trajectory of qualified individuals across the credit union.”
Current Metro employees are eligible for any newly created position under the universal program model, the statement said. New employees hired for management positions will continue to receive Metro’s current base salary ranges and participate in existing bonus programs, the statement said.
