MILWAUKEE -- Effective immediately, BMO Harris Bank is raising its wage to $15 an hour because of the recent changes to the corporate tax rate.
The Chicago-based bank says it will increase its charitable giving by 10 percent this year also due to the tax reform, according to a news release. Last year, BMO Harris gave more than $17 million to community groups in the U.S.
BMO Harris has more than 3,000 in the Milwaukee area, though the bank did not comment on how many employees are affected by the minimum wage increase.
David Casper, president and CEO of BMO Harris Bank, says the company is pleased to share its benefits of the recent tax reform changes with employees and communities.
"Our success is tied directly to the communities we serve, and we're proud of the exceptional job our employees do in providing a great customer experience," Casper continues.
Other banks across the country have also raised minimum wages recently, including Green Bay-based Associated Bank.