The winners of the Best Companies to Work For competition are a testament that no matter what is going on in the economy or the world, a strong culture is foundational to surviving tough times. Taking care of your employees in good times means they will have your back when a crisis occurs.
#5 Mascoma Bank
Financial, wealth management and private banking services
President and CEO: Clayton Adams
Years in Business: 121
Full-Time Employees: 323 (140 in NH)
Part-time/Temporary or Seasonal Employees: 31 (Benefits offered)
Years on List: 3
Address: 154 Harvey Road, Londonderry, NH 03053
Top Employee Engagement Survey Measures:
I would like to be working for this organization one year from today: 98% agree
I know what my organization is trying to achieve strategically: 98% agree
As a B Certified Corporation, Mascoma Bank is committed to being a force for change for its customers, communities and employees.
As such, Mascoma is there to help its employees, including offering loans to help through difficult times. Payments are made through payroll deductions and, once the loan is paid off, payments can go into a savings account to help the employee save for the future.
This year, Mascoma temporarily tripled the amount that can be borrowed, cut the interest rate in half, and waived the first three payments as well as the eligibility rule of being employed with the bank for one year. It also paid $500 to every front-line worker at its branches.
In addition to offering an Employee Assistance Program, Mascoma partners with the United Way through its Work United program to provide services and assistance to employees, including finding day care, support for rebuilding credit scores and accessing fuel assistance.
Mascoma offers a student loan pay-down plan allowing employees to repay student debt faster. Employees also participate in profit sharing.
Through the bank’s Matching Gifts Program, employee charitable donations are matched up to $300 annually. Other benefits include 16 hours of paid volunteer service, 22 paid days off annually to start and 10 paid holidays. Through its parental leave program, primary caregivers receive 12 weeks of leave at 100% pay and non-primary caregivers receive two weeks paid.
Employees needing to care for ill family members after using earned leave, may take up to six weeks of paid leave at 60% of pay.