The Living Wage Foundation is pleased to announce that the Ecology Building Society has been awarded Living Wage accreditation as part of their commitment to sustainable communities.
Paul Ellis, Chief Executive, Ecology Building Society, comments:
"We believe that gross inequality has an environmental cost, which is why we were among the first organisations in the UK to implement a fair pay ratio to limit maximum salaries.
While all the Society's salaries already exceed the Living Wage, accreditation demonstrates our commitment to maintain this, as well as ensuring that all contractors working on our premises will also be paid the Living Wage.
Our employees and contractors play a vital role in helping to deliver our mission to build a greener society and we believe that fair pay helps us reap business benefits such as lower staff turnover and improved customer satisfaction."
Sarah Vero, Director, Living Wage Foundation comments:
"We are delighted to welcome Ecology Building Society as an accredited Living Wage employer. The best employers are voluntarily signing up to pay the Living Wage. The Living Wage reflects the real cost of living, and we want to ensure as many people as possible are assured a fair day's pay for a fair day's work."
Ecology Building Society provides mortgages for properties and projects which support individuals and communities to adopt environmental building practices, improve the energy efficiency of the UK's building stock, and live or work in a way that promotes a sustainable economy. Our mortgages are funded through simple, transparent, ethical savings accounts that offer long-term value.
The Society ensures all employees are paid at least £8.25 an hour, regarded as the real cost of living in the UK. This is significantly higher than the Government's current national minimum wage (£6.70 an hour for workers aged 21 and over) and, the new national living wage (£7.20 an hour for workers aged 25 and older), which will apply from April 2016.
To find out more about becoming a Living Wage employer, visit www.livingwage.org.uk/employers.