LANCASTER, Pa.--(BUSINESS WIRE)--Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) announced today that during 2018, it will invest an additional $2 million in the communities it serves as part of its Fulton ForwardTM initiative; and the company will raise the minimum wage paid to employees in addition to providing an additional week of pay at year-end to employees who do not participate in an incentive plan.

“At Fulton, we understand that our future is connected to the communities where we operate and the employees who serve them,” said E. Philip Wenger, Chairman and CEO of Fulton Financial. “It makes sense for us to share the benefits of tax reform, and we’re very pleased to be able to give back to our communities and employees.”

As a result of the recently enacted Tax Cuts and Jobs Act of 2017, Fulton will commit an additional $2 million as part of its Fulton ForwardTM Initiative, which broadly supports communities across the company’s footprint. The initiative was designed to support underserved communities to create affordable housing, provide financial literacy and education programs, and to accelerate economic development.

In addition to expanding its community support, Fulton also will raise its minimum wage to $12 per hour. The company also plans to provide an additional week of pay in 2018 to employees, who are not participants in other variable-award plans. It is expected that 75% of Fulton’s approximately 3,700 employees will receive this additional week of pay.

“Giving is a cornerstone of our culture, and we already provide thousands of volunteer hours and millions of dollars of existing support to community organizations,” said Wenger. “I am thrilled that our communities and employees will benefit from the savings we will realize from the changes in our corporate tax rate.”