Clonard Credit Union's Journey to Living Wage Accreditation

Overview

Starting with just 83 members and £680 in shares, CCU now serves over 32,328 members, including 4,169 under the age of 16, across Belfast, North Down, and Glengormley. As a not-for-profit organisation, CCU is dedicated to meeting the financial needs of its members through savings, loans, and full banking services across 9 branches and online. With a workforce of 52 staff and 9 volunteers, CCU strives to be an employer of choice, offering lifelong career development opportunities and valuing the impact its employees have on the community.

Motivation for living wage accreditation 

CCU's decision to become a Living Wage Employer was driven by a commitment to positively impacting employees and their families. During an employee review in early 2024, it was identified that some staff were earning below the National Living Wage. This prompted an immediate wage increase and an enhancement of the overall benefits package. By aligning with the Real Living Wage Foundation’s values, CCU reaffirmed its dedication to treating employees as its greatest asset.

Implementation process

The implementation of the Living Wage at CCU was part of a broader review of employee compensation in early 2024. After identifying the need to adjust wages, CCU engaged with the Real Living Wage Foundation and Advice NI. The accreditation process was straightforward, with CCU quickly meeting the required standards and becoming the first Credit Union in Northern Ireland to be accredited. This milestone was achieved within a few days of application, with CCU proudly becoming the 101st accredited employer in the region.

Additional workplace changes

Alongside Living Wage accreditation, CCU rolled out several enhancements to its employee benefits package, including private healthcare, an employee HR system and portal, career development pathways, a mental health and wellbeing program, and an online perks and discount package. These initiatives reflect CCU's ongoing commitment to improving employee well-being and work-life balance.

Challenges and overcoming them

CCU encountered no significant challenges during the accreditation process. The Board of Directors was highly supportive, and the alignment between CCU’s values and the Living Wage Foundation’s principles ensured a smooth transition. The accreditation will be formally announced to the broader business community in the coming weeks.

Anticipated benefits

Accrediting as a Living Wage Employer is expected to enhance CCU’s reputation as an employer of choice, helping to retain employees and foster a culture of commitment and satisfaction. The positive impact on staff morale and productivity will further strengthen CCU’s mission to support its employees, members, and the wider community.

"I volunteered at the Credit Union for 25 years, and in January 2024, I joined CCU full-time. My hourly rate was soon set above the real Living Wage, which has positively impacted my life, especially with the rising cost of living. I am proud to work at CCU, where I feel valued and where the ethos of the Credit Union is deeply felt by all my colleagues."

Louise Rooney (employee)

"Introducing the Living Wage at CCU is part of a broader strategy to enhance our employee benefits package. We pride ourselves on doing right by our staff, volunteers, members, and communities. As the first Credit Union in Northern Ireland to achieve Real Living Wage accreditation, we encourage others in the movement to consider this commitment, as together, we are better."

Terry McCrudden (CEO)