Raising Starting Wages & Investing in Local Employees

First Southwest Bank raises minimum wage

First Southwest Bank • January 22, 2018

While some long-standing businesses leave our rural Colorado towns, for more urban options, First Southwest Bank stands committed to growing and investing in the people of our Western communities. As part of this commitment, starting team members at First Southwest Bank are immediately benefiting from the recent tax law changes, as the bank raises its starting wage to $14 an hour plus full benefits.

“We’re excited to take advantage of the tax reform and give the positive impact it has on First Southwest Bank right back to our team members and the rural Colorado community,” says Kent Curtis, First Southwest Bank CEO. “By being able to provide a higher living wage to our starting employees, and invest in our team, we can be a catalyst for economic growth, and reaffirm our commitment to a better quality of life in all of the rural Colorado communities our branches serve.”

The increased starting wages are effective immediately across their six branches in rural Colorado.

“According to the La Plata County Thrive Living Wage Coalition, higher minimum wages positively affect all of our local economies through many ripple effects,” says Jodi Hayden First Southwest Bank Human Resources Director. “Economic evidence shows that financially satisfied employees are more productive, which then increases service quality and customer satisfaction; plus, higher wages increase local sales, as people are able to spend more, and an increase in sales drives job creation.”

As a Community Development Financial Institution (CDFI), First Southwest Bank is focused on cultivating valuable relationships, investing in economic and social doers, and fostering a well-lived rural culture — increasing their employee’s starting wage is just one way First Southwest Bank aims to be dedicated to the community, as they accelerate growth in 2018.

For more information please contact Kent Curtis, 970.422.5054, or kent.curtis@fswb.com.