Stockport's building society, Vernon, has reviewed its employee pay and reward packages and boosted salaries to reflect its commitment to colleagues.
Against the backdrop of the rising cost of living, the mutual has committed to a minimum living wage for all employees and given an average 4% pay rise to support colleagues.
This is a significant increase on last year's 1.9% rise and reflects both the strength of the business and its commitment to recognising colleagues' work.
The society has also invested into young people in the community with its apprenticeship scheme. All apprentices will now be paid a minimum of £16,000, compared to the apprentice national minimum wage of £9,066.
Vernon has a vision to become Stockport's employer of choice and has worked hard to ensure its pay and rewards reflect the importance of its staff as key stakeholders in the building society.
Steve Fletcher, chief executive of Vernon, said: "Our people are our greatest strength. We pay a competitive market rate for each role and have boosted basic salaries along with other valuable employee benefits, including pension contributions and a flexible working environment.
"We've done in-depth research to make sure we are offering appropriate, fair and competitive salaries. We intend to review this regularly to ensure we stay on track to recruit and retain the best people and become Stockport's employer of choice."