To support Living Wage Week (3 to 9 November), Unity Trust Bank, the specialist bank for the social economy, is offering new and existing customers that are accredited Living Wage employers a 50 per cent reduction in lending fees to 0.75 per cent.
The first bank to be accredited as a Living Wage Employer, Unity Trust Bank’s Managing Director Richard Wilcox said: “Unityis proud to be backing the Living Wage campaign both because it is ethically right, but also because it makes sound business sense. We encourage other employers to show responsibility and commitment to their staff by ensuring they receive a fair wage.”
Rhys Moore, Director at Living Wage Foundation, said: "In the current climate, employers providing a fair deal for staff through paying the Living Wage, should be commended. It’s great that Unity Trust Bank is leading by example and offering this discounted lending fee to any accredited Living Wage employers who work in the social economy and are focused on improving society.”
The Living Wage enables people to live at a socially acceptable standard that cannot be met on the national minimum wage. The new Living Wage rates announced today week will see employers pay their workers (all adults over the age of 18) rates of at least £8.80 an hour in London, and £7.65 outside the capital, significantly above the national minimum wage of £6.31 for workers aged 21 and over.
Customers are able to benefit from this offer providing their main banking relationship is held with Unity or they commit to doing so. Organisations interested in this offer can become accredited Living Wage employers by following a simple application process. Visit www.livingwage.org.uk to find out more.
Richard Wilcox said: “We are open for business. We are lending to the social economy to drive social impact success for our customers and the communities in which they serve. We have committed to lend £100 million over three years, with almost £50 million already committed in 2013.”