Long Term Disability
The bank pays the premium costs. Employees are eligible on the first of the month following six months of continuous full-time employment. The plan provides partial income to disabled employees after 120 consecutive days of disability. The policy covers 66.67% of the basic monthly rate up to a maximum of $10,000 monthly. In addition, in the event of a catastrophic disability that results in the loss of two or more activities of daily living, the benefit percentage will increase to up to 100% of pre-disability earnings.
Medical Insurance
A PPO plan is provided; employees who live outside of the PPO network may elect an indemnity plan. Both the employees and the Bank contribute toward the monthly premium. Full-time employees are eligible on the first of the month following their date of employment. Part-time employees are eligible on the first of the month following 60 days of employment.
Mileage
The Bank reimburses mileage costs for employees who use personal cars for bank business. The reimbursement rate will be at the prevailing IRS mileage rate.
Paid Holidays
The Bank provides up to ten paid holidays based on the Federal Reserve Schedule to employees: New Year’s Day, Martin Luther King Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veteran’s day, Thanksgiving Day and Christmas Day. Part-time employees are paid for 5 hours of holiday pay for each observed holiday.
Parking
The Bank provides free parking to all employees, including the downtown branch.
Picnic
Employees and their families are invited to the Bank’s Annual Picnic.
Profit-Sharing Plan
This plan provides eligible employees retirement income and allows eligible employees to share in the Bank’s profits. Employees are eligible to participate as of January 1, April 1, July 1, or October 1 following completion of 90 days of service. After five years of service, employees are 100% vested.
The Profit-Sharing Plan has a 401(k) feature available for employees. Employees can elect to save from 2% of their salaries up to the annual IRS maximum amount on a pre-tax basis for retirement. Monies contributed to the 401(k) plan are always 100% vested for employees. The Bank will match 50 cents on the dollar of the employee’s contribution up to the first 6%.
Recruitment Award
Full-time and part-time employees are eligible to receive $500 for successfully recruiting a non-exempt employee and $1,000 for recruiting an exempt or officer level employee. The referred individual must, at the time of making an application, put the name of the employee referring him or her on the employment application.
If the referred applicant is offered and accepts a full-time or part-time position with the Bank, the referring employee will receive $100 on the first paycheck following the applicant’s date of hire, and the remaining amount will be paid when the new employee reaches his or her 120-day anniversary. All cash awards are subject to federal taxation.
Reimbursement Accounts
Employees can elect to pay their insurance premiums on a pre-tax basis, thereby reducing their taxable income. They can also establish a healthcare or dependent childcare account to pay for eligible out-of-pocket expenses on a pre-tax basis. The monies diverted into the reimbursement account program are not taxable for federal income tax or Social Security/FICA.
Full-time employees qualify on the first of the month following thirty (30) days of active service and part-time employees on the first of the month following sixty (60) days of active service.
Rest Periods
Employees may take one fifteen-minute break in the morning and one in the afternoon if the work schedule permits. Breaks are paid time.
Reserve Forces Leave
A reserve military leave for full-time employees can be arranged for short-term active duty training or summer training. The employee will be paid regular wages and the time will not be charged against vacation.
Retirement Gift
At retirement, the Bank provides the following cash awards: 5-10 years - $200, 10-15 years - $300, 15-20 years - $600 and over 20 years - $1,000. All cash awards are subject to federal taxation.
Vacation
If hired before June 1, full-time employees and officers may take 5 days of vacation after six months of employment. The following January, full-time employees become eligible for two weeks’ vacation and officers become eligible for three weeks’ vacation.
If hired on or after June 1, full-time employees and officers become eligible for vacation after six months of employment.
In the calendar year in which employees reach five years of service, employees are eligible for three weeks’ vacation. In the calendar year in which employees reach 15 years of service, employees and officers are eligible for four weeks’ vacation.
After 5 years of service as a Vice President, Vice Presidents qualify for 4 weeks’ vacation or 20 workdays.
Senior Vice President Officers and above are eligible for vacation immediately upon date of hire. Up to 20 days may be available prorated based on date of hire during the year.
After one year of employment, part-time employees are eligible for two weeks of paid vacation. Vacation will be paid based on an average of 5.5 hours per day.
Vision Care
Employees may elect to purchase vision insurance for themselves and their dependents. The program includes discounts for frames and glasses, and for eye exams at participating vendors.
