BIDDEFORD — Maine Community Bancorp, the mutual holding company that owns Biddeford Savings Bank and Mechanics Savings Bank, has announced that the minimum wage for full-time employees has increased to $15 per hour.
According to a press release from Maine Community Bancorp, the wage increase, which took effect Jan. 1, is part of the company’s commitment to being an employer of choice in the state of Maine. The wage increase affects 67 percent of the organization’s 77 hourly employees and is $4 per hour higher than the state of Maine’s minimum wage.
“The wage increase recognizes the value of everyone’s service to Maine Community Bancorp, especially our hard-working customer service and operations staff that make us so successful,” said Jeanne Hulit, president and CEO of Maine Community Bancorp. “It is also further demonstration of our commitment to attracting and retaining talented employees who can help us grow stronger together.”
Jon Oxman, chairman of Maine Community Bancorp’s board of directors agreed.
“The minimum wage increase is more than just an investment in our employees; it’s an investment in our communities,” Oxman said. “By increasing the living wage, we’re helping build solid financial foundations for our staff, allowing them to save and to reinvest their money by spending at local businesses. Our employees deserve the same level of financial security that we strive to provide our customers.”
Biddeford Savings Bank was charted in 1867 and it’s main branch is at 254 Main St. in Biddeford and the company also has branches on Alfred Street in Biddeford, a business banking center at 234 Main St. in Biddeford, and locations in Kennebunk, Waterboro and Scarborough.
Mechanic Savings Bank is based in Auburn and opened in 1875. It offers locations in Auburn, Brunswick, Lewiston, and Windham.
In 2015, the two banks entered into an agreement to form Maine Community Bancorp, an alignment that positioned each bank to build upon their strengths and competitive advantages by sharing resources, significantly increasing their loan capabilities, and cost efficiencies, Hulit said.
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