Edison Financial looking to double Windsor workforce by year's end
Monday, February 1, 2021
The Windsor Star/Dave Waddell
Despite the stormy economic seas created by the COVID-19 pandemic, locally-based online mortgage firm Edison Financial expects to see a doubling of its workforce by year’s end.
Located in downtown Windsor, above the Rocket Innovation Studio in the former Old Fish Market building, the 10-month-old company has grown from four employees to 44 and exceeded its performance targets by 20 per cent.
Both Edison and the Rocket Innovation Studio are affiliated with Detroit native Dan Gilbert’s Rocket Companies.
“We have been able to manage through the COVID pandemic through our digital approach, which allows us to meet the needs of our clients remotely and safely,” said Edison Financial’s senior director of marketing Tracey Cox.
For the Windsor community Edison Financial is placing its focus on the recruitment of more local talent and getting more involved in community outreach programs.
Of the company’s current group of 44 employees, 42 have been local hires.
Currently the company is looking for a software developer, mortgage agents and a marketing intern. Windsor’s Rocket Innovation Studio is also looking for another seven employees.
“We have a good relationship with the college and university in town,” said Bekim Merdita, Edison Financial’s vice president of sales and business development. “They are tailoring their programs to focus skills on the areas they know Edison Financial is hiring for.
“We also have partnerships with WEtech (Alliance) and WEEDC (Windsor Essex Economic Development Corporation) to help connect us with students.
“We’re planning on hiring very aggressively in 2021.”
Merdita added the pandemic has accelerated the company’s volume of business, as people are doing more online in every area of their lives.
“We’re 20 per cent above the targets where we thought we’d be with the business,” Merdita said.
“People are truly beginning to understand the value of home. It is where they have worked, educated their children, exercised and spent so much of their life in the last year. With interest rates below two per cent, nearly everyone can benefit from refinancing their home.”
He added the bulk of the company’s business is being generated in the Windsor market, though the firm is licenced to operate throughout Ontario and British Columbia.
“The purchase market is being driven by buyers looking to move to Windsor from outside the region, but the company has also seen pent-up local demand and shortage of quality housing supply,” Merdita said.
“We planned on growing in Windsor, but it has helped being in the hottest market in the past 12 months.”
Cox said as Edison grows, the Windsor community will benefit from the company’s philosophy of partnering with the community.
Edison is exploring potential projects with various local groups. There’ll be particular interest in working on downtown issues.
“Edison Financial’s philanthropic focus areas are community, education and housing,” Cox said.
“We plan to partner with schools throughout the city, support local businesses and assist in beautification projects.”
The pandemic’s easing will have a lot to do with when Edison’s community programs launch, but Cox is hoping to see the first of those begin this summer.