NBT Bank revamps employee benefits to include Student Loan Repayment program
Photo by Tyler Murphy
NORWICH – NBT Bank has launched its own Student Loan Repayment Program to help reduce the outstanding balance on qualifying student loans for full-time employees as part of its financial wellness initiatives. The program offers contributions in the amount of $100 per month to the qualifying loans of full-time employees for up to 60 months.
Student loan debt is a challenge gripping the nation with 1.5 trillion in debt; transcending all generations, with statistics showing that nearly 1/3 of borrowers are over the age of 40.
“Student loan debt is an issue impacting so many of today’s professionals, yet about 8% of companies offer assistance for their employees,” said Chief Human Resources & Ethics Officer Catherine Scarlett. “NBT Bank is proud to be out in front of this challenge, in offering our own Student Loan Repayment program to help alleviate this burden on our employees.”
The company has also reevaluated and updated several other employee benefits, including a new paid family leave policy that will provide mothers and fathers paid time off at 100% of pay following a birth, adoption or foster placement. This benefit is over and above other paid time off.
“When we say that we are a family-friendly company that believes in a healthy work-life balance, we mean it,” said Scarlett. “These policies reflect our commitment to ensuring that NBT Bank remains an employer of choice, able to recruit and retain the best talent.”
For more information about careers at NBT Bank, visit www.nbtbank.com/Careers
Student loan debt is a challenge gripping the nation with 1.5 trillion in debt; transcending all generations, with statistics showing that nearly 1/3 of borrowers are over the age of 40.
“Student loan debt is an issue impacting so many of today’s professionals, yet about 8% of companies offer assistance for their employees,” said Chief Human Resources & Ethics Officer Catherine Scarlett. “NBT Bank is proud to be out in front of this challenge, in offering our own Student Loan Repayment program to help alleviate this burden on our employees.”
The company has also reevaluated and updated several other employee benefits, including a new paid family leave policy that will provide mothers and fathers paid time off at 100% of pay following a birth, adoption or foster placement. This benefit is over and above other paid time off.
“When we say that we are a family-friendly company that believes in a healthy work-life balance, we mean it,” said Scarlett. “These policies reflect our commitment to ensuring that NBT Bank remains an employer of choice, able to recruit and retain the best talent.”
For more information about careers at NBT Bank, visit www.nbtbank.com/Careers
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