FRAMINGHAM – Hudson-based Avidia Bank is raising its minimum wage to $15 an hour effective February 19, and sharing the benefits of the recent tax reform with their employees in the form of adding toits employee bonuses.
The Massachusetts minimum wage is $11 an hour.
The federal minimum wage is $7.25 per hour.
The new tax code legislation will have a direct impact on the mutual bank’s bottom line, therefore, in addition to raising the minimum wage and adding to employee bonuses, they have increased funding for charitable giving. Also, more robust earnings will be the catalyst for Avidia to be able to deliver about $20 million of additional lending power to individuals and small businesses to further grow our small business community.
“To be successful, we need to ensure we maintain the best people and we look forward to attracting new employees that will offer nothing but the best for our customers,” said CEO Mark O’Connell. “We also expect that the tax law change will provide additional resources to do what our mutual charter frees us to do – to invest in technology and solutions to better serve customers and communities for years to come.”
Avidia Bank is a $1.5 billion bank, headquartered in Hudson, with branches in Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough, Framingham and Shrewsbury.