Bank of New HampshireWe Love NH April 24, 2014 10:03 AM
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Bank of New Hampshire

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Benefits

Our Benefits programs are designed with our employees in mind. We realize that as competition in our market increases, attracting and retaining competent and valuable employees focused on providing superior service requires more than just a paycheck.

Your Health and Wellness

Health Insurance is offered to employees on the first of the month following two months of service, and is available to regular employees working at least 20 hours per week. A choice between two plans is provided, and the employee may be responsible for a portion of the premium for their choice of coverage, as well as for office co-payments and applicable deductibles.   Bi-Weekly contributions for health plan offerings are pre-tax.  Costs will vary based on classification and number of individuals covered. 

With both options, in-network preventative care is covered at 100% with no deductible, and out-of-network benefits are available at a reduced level of coverage.  Our plan options include the following:

  • Preferred Provider Organization (PPO) plan:  Employees electing this plan make a bi-weekly cost-share contribution to participate. In general, this plan provides for extensive coverage once the annual deductible is met.  Participants do not have to select a Primary Care Physician (PCP) or obtain referrals to see specialists.
  • High Deductible Health Plan (HDHP):  Employees selecting the HDHP are not required to make any cost-share contribution to participate.  Upon meeting the annual deductible ($2000/Individual; $4000/Family), the HDHP pays 100% of eligible charges for in-network, non-preventative medical services and prescription costs.

Dental Insurance is included in each of the above plan offerings at no additional cost, or is available as a stand-alone option for employees not enrolled in medical insurance.  Preventative Services (Tier I) are covered at 100% and both Basic & Major Services (Tiers II & III) are covered at 80% after meeting the applicable deductible. The maximum yearly benefit is $1250.00 per insured individual.

Vision Benefits are included in both options, and provides for 100% coverage for one routine vision exam every 12 months.  For PPO participants, benefits also include coverage for eyeglasses or contacts.        

Short Term Disability

Short-term disability benefits are provided at no cost to the full time employees, and provide income protection for a defined time period in the event of a non-work related illness or injury. Short Term Disability benefits become available after six months of employment. 

Long Term Disability

Long Term Disability insurance is also provided at no cost to full-time employees, and provides a percentage of monthly salary in accordance with plan provisions for employees who have met the required disability period of greater than 180 days due to a non-work related illness or injury.

Voluntary AFLAC Insurance

All benefit-eligible employees may purchase any of several insurance selections from AFLAC, which may include supplementary insurance, hospital care, cancer insurance and short-term disability.  

Flexible Benefits Plan

Benefit-eligible employees are eligible to enroll annually in the Flexible Benefits Plan and save pre-tax dollars to be used for expected out-of-pocket medical, dental, vision, prescriptions and other qualified expenses. Participants may also set aside pre-tax dollars to pay for dependent care expenses. 

Planning for the Future

Group Term Life Insurance

Group Term Life Insurance is provided at no cost to full-time employees with a benefit of 2.5 times their annual salary. The plan also allows departing employees to continue coverage directly with the carrier at their own expense.

Voluntary Life Insurance

All benefits-eligible employees are eligible to purchase additional Voluntary Life Insurance for themselves and family members.

Voluntary Long Term Care Insurance

Full-Time employees are eligible to purchase Voluntary Long Term Care Insurance that will assist in covering the costs associated with assisted care for themselves and family members.

401(k) Retirement Plan

The Bank of New Hampshire Retirement Incentive Program consists of a voluntary, long-term, contributory savings/retirement program (referred to as the 401(k) plan), and a profit sharing allocation.

Participation in the plan includes pre-tax contributions via payroll deduction, and offers several investment options to use in investing individual contributions. BNH matches 50 cents of every dollar, up to 6% of pay contributed.   

The annual profit sharing allocation is granted on a discretionary basis by the Board of Directors. This monetary allocation is invested according to the employee’s investment elections, and placed directly into the 401(k) account of all active participants.

Full and part time employees having attained age 21 will be automatically enrolled in the Bank’s 401(k) Retirement Incentive Program at the start of the calendar quarter (January, April, July, and October) following their date of hire, or, if not yet 21, following their eligibility date as outlined above.  

Time for You

Vacation and Personal Time

Our time-off policies support the changing needs of today’s workforce, and these benefits give employees the flexibility to use their time when necessary (with supervisor approval) for pre-planned vacations as well as unexpected absences due to illness, personal or family emergencies, or other personal needs.  Time is allocated based upon length of service.

Bereavement Time

BNH provides paid bereavement time for the passing of an immediate family member.  

Holidays

All regular employees are eligible for holiday pay, and amounts are based upon employee classification. The Bank currently observes 10 holidays, and is closed on those which fall Monday-Friday. For holidays falling on a Saturday, the bank is closed and a float holiday is awarded; we are also closed on the Monday following a Sunday holiday.

Volunteer Time

In a continuing effort to support community involvement, Bank of New Hampshire provides paid Volunteer Time to employees after 6 months of service.   Hours may be used to volunteer time in a civic or charitable activity that will benefit the communities we serve. 

Supporting Your Educational Goals and Personal Needs

Educational Assistance

Bank of New Hampshire is supportive of education for employees and offers the following:

Northern New England Center for Financial Training (NNECFT) provides education, training and informational courses and seminars for the financial services industry throughout ME, NH and VT. Many of the courses offered are applicable to nationally recognized diplomas and certificates, and may be transferred to colleges and universities. Costs are shared between the employee and the bank, and employees may be reimbursed for their share of cost upon achieving a grade of “C” or better.

Other Education: Full-time employees taking other business or degree-related courses may be eligible for reimbursement up to a maximum of $1,000.00 per calendar year for non-CFT classes.

Employee Assistance Program (EAP)

This benefit is provided at no cost to all employees and provides a professional, supportive and confidential resource to assist with personal and/or job-related concerns that may impact their ability to perform their job. The EAP can assist in planning a course of action and identifying resources to help the employee. The plan also provides assistance in financial planning and basic legal services.

Rewards and Recognition

Winner’s Circle Sales Incentive Program

The Winner’s Circle Incentive Program offers employees an opportunity for additional income and recognition as a distinguished sales performer.  Eligible employees will receive cash incentive payments for inter-departmental prospect referrals that result in closed sales.  Through the Plan, BNH employees can add to their earnings; in some instances, cash incentives are unlimited and are directly related to an employee's sales efforts.

Incentive Compensation Plan

This bonus program allows for employees to be rewarded for accomplishments related to individual and corporate goal achievements.

Recruitment Bonus

Our Recruitment Bonus Program encourages staff to recommend qualified applicants for available positions. A bonus of $250.00 is paid to a staff member who recommends an individual who is subsequently hired and completes three (3) months of satisfactory employment.

Employee Recognition

BNH recognizes not only length of service milestones, but Quality Service and Educational accomplishments as well. Each year, the bank celebrates these achievements with an annual Employee Recognition Event for all employees to enjoy. 

Other Benefits

Products and Services

Bank of New Hampshire provides several products and services at a discount to employees, including Gift Checks, Money Orders, Wire Transfers, Traveler's Checks and Safety Deposit Boxes. 

Pet Insurance

Employees may purchase insurance coverage at a discounted monthly premium for their pets. Coverage includes routine care, prescription flea control, heartworm prescriptions, annual exams, surgeries and more. Premiums are deducted from a bank account of their choice.

Employee Advantage Program

Employees enjoy vendor discounts and club enrollments through the Employee Advantage Program, including discounted wholesale-club memberships, reduced ticket prices at ski areas and amusement parks, discounts on Dell computers and Verizon cellular services (where applicable), as well as discounts at several other local vendors in various regions.

BNH Bulletin Board

This centralized “electronic” bulletin board allows employees to connect with co-workers with information not directly related to the bank in the following categories: Fundraising and Donations, Volunteerism, Community Events and Classifieds. As a mutual bank with deep community roots, we make it our business to strongly support our co-workers and these activities as much as possible.  

Equal Housing Lender    Member FDIC