BOSTON, Jan. 25, 2018 /PRNewswire/ -- Santander Bank today announced it will increase its minimum hourly wage to $15. At more than double the current federal minimum wage, this rate change will translate to wage increases for more than 1,500 full and part-time colleagues, the majority of whom work in Santander's branches and call centers throughout the Bank's Northeastern U.S. footprint. The change will take effect on March 17.
"Our people are our greatest asset," said Scott Powell, CEO of Santander US. "We have a long standing commitment to investing in our employees and paying them fairly and competitively. They are on the front lines every day working to build strong, lasting relationships with our customers and I am pleased to be able to reward them for their dedication and hard work."
In addition to merit increase and bonus opportunities, Santander also invests in training, career development and health and wellness programs for colleagues to help them achieve their personal and professional goals.
Santander Bank, N.A. is one of the country's top retail and commercial banks by deposits and a wholly owned subsidiary of Banco Santander, S.A. - one of the most respected banking groups in the world. With its corporate offices in Boston, Santander Bank's more than 650 branches and nearly 2,100 ATMs are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank's 9,700 employees are committed to helping our 2.1 million customers make progress toward their financial goals with the support of our call centers, interactive online banking platform and easy-to-use mobile app. Madrid-based Banco Santander (NYSE: SAN) serves more than 125 million customers in the U.K., Europe, Latin America and the U.S. Through its local affiliates, including Santander Bank, Banco Santander is the largest corporate contributor to higher education in the world, investing over $165 million annually in colleges and universities across more than 20 countries, including the U.S. For more information on Santander Bank, please visit www.santanderbank.com.
SOURCE Santander Bank