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- EDUCATIONAL OPPORTUNITIES
- BENEFITS CONTINUATION
- WORKERS COMPENSATION INSURANCE
SECTION DBENEFITSEMPLOYEE BENEFITSEligible employees at MAINE SAVINGS are provided a wide range of benefits. A number of the programs (such as Social Security, worker's compensation, and unemployment insurance) cover all employees in the manner prescribed by law. Benefits eligibility is dependent upon a variety of factors, including employment category. Peak-time employees are eligible to earn vacation time, as described in the policy section for Vacation Benefits. In addition, MAINE SAVINGS will pay for the cost of the employee's health benefits for Peak-time employees. The following benefit programs are currently available to eligible employees:
EDUCATIONAL OPPORTUNITIESEmployees are encouraged to engage in the educational activities that will enhance their abilities to their fullest potential. To encourage and help employees improve their on-the-job skills and knowledge by further education, the following policy has been developed in regards to expense incurred for such training: When an employee attends a workshop, seminar, conferences, or a work-related course, etc., approved by their supervisor, the Credit Union will pay for the costs of the tuition. If an employee and his/her supervisor deems that a college course would be beneficial to both the employee and the Credit Union, the supervisor will make the recommendation to a member of Senior Management, who has the authority to make the decision that MAINE SAVINGS will pay up to $500.00 for the class. For an approved workshop, seminar, conference, or work-related college course, the Credit Union will pay up to $500.00 toward the cost of tuition, plus the cost of books. Maine Savings will only pay $500.00 for college courses once per semester. Employees may keep the books purchased by MAINE SAVINGS. The Credit Union may pay up to $500.00 tuition plus the cost of books for any management employee who has entered or desires to enter into a degree program. Employees may keep the books purchased by Maine Savings. Maine Savings will only pay a total of $500.00 per semester. A member of Senior Management must approve all requests. Tuition payments for college courses will not be paid until the course has been successfully completed with at least a C average. Employees will provide a copy of their grade report and receipts for reimbursement through their supervisor to the HR Department. HR will forward to Accounting for payment. BENEFITS CONTINUATIONThe federal Consolidated Omnibus Budget Reconciliation Act (COBRA) gives employees and their qualified beneficiaries the opportunity to continue health insurance coverage under Maine Savings’ health plan when a "qualifying event" would normally result in the loss of eligibility. Some common qualifying events are resignation, termination of employment, or death of an employee; a reduction in an employee's hours or a leave of absence; an employee's divorce or legal separation; and a dependent child no longer meeting eligibility requirement. Under COBRA, the employee or beneficiary pays the full cost of coverage at Maine Savings’ group rate plus an administration fee. MAINE SAVINGS provides each eligible employee with a written notice describing rights granted under COBRA when the employee becomes eligible for coverage under Maine Savings’ health insurance plan. The notice contains important information about the employee's rights and obligations. WORKERS' COMPENSATION INSURANCEMAINE SAVINGS provides a comprehensive workers' compensation insurance program at no cost to employees. This program covers any injury or illness sustained in the course of employment that requires medical, surgical, or hospital treatment. Subject to applicable legal requirements, worker's compensation insurance provides benefits after a short waiting period or, if the employee is hospitalized, immediately. Employees who sustain work-related injuries or illness should inform their supervisor in writing immediately. No matter how minor an on-the-job injury may appear, it is important that it be reported immediately. This will enable an eligible employee to qualify for coverage as quickly as possible. Neither MAINE SAVINGS nor the insurance carrier will be liable for the payment of workers' compensation benefits for injuries that occur during an employee's voluntary participation in any off-duty recreational, social, or athletic activity sponsored by MAINE SAVINGS. EMPLOYEE RATE DISCOUNTS As an added benefit of employment, full-time employees who have completed at least one year of employment may receive a discount of 1.00% below the present market loan rate for which they qualify. This rate discount applies to the following Maine Savings Credit Union products: residential mortgages, consumer loans, and credit cards. This discount requires on-time payment via automatic transfer from a Maine Savings Federal Credit Union direct deposit account. If, for any reason, the employee terminates employment or is placed on probation, fails to maintain Credit Union accounts in a fully satisfactory manner, or the on-time automatic payment is discontinued, any and all rate discounts will be eliminated and adjusted back to the original note rate(s). Employees will not receive rate discounts or fee waivers on loans for which they are only an endorser or co-maker. DELINQUINCY Employees whose loans become past-due 30-days will lose their rate discount. Any and all rate discounts will be immediately eliminated and adjusted back to the original note rate(s). Upon request, a review showing at least 12 months timely payment history may result in returning the 1.00% rate discount. SENIOR STAFF In addition to the discount above, members of the Senior Staff are eligible for up to a 1% discount on their interest rate for the same credit union products. All other criteria remain the same. Source: Maine Savings Appendix 10 Maine Savings Federal Credit Union Employee Survey Please take a few minutes to complete this survey. Your specific answers will be completely anonymous, but your views, in combination with those of others, are extremely important. We will use the results to help chart areas for improvement within our organization and in service to our members. Please forward to Rob Carmichael when you have completed the survey. 1. Overall, how satisfied are you with MSFCU as an employer? (Please circle one number)
2. MSFCU’s leadership and planning (Please circle one number for each statement)
3. Corporate Culture (Please circle one number for each statement)
4. Communication (Please circle one number for each statement)
5. Career Development (Please circle one number for each statement)
If you have been here at least six months, please respond to these performance appraisal items
6. Your Role (Please circle one number for each statement)
7. Recognition and Rewards (Please circle one number for each statement)
8. Teamwork and Cooperation (Please circle one number for each statement)
9. Working Conditions (Please circle one number for each statement)
10. Your Immediate Supervisor (Please circle one number for each statement)
11. MSFCU’s Training Program (Please circle one number for each statement)
12. Benefits (Please circle one number for each statement)
What, if any, changes would you like to make to MSFCUs benefits package? 13. How long do you plan to continue your career with MSFCU?
14. Would recommend employment at MSFCU to a friend?
15. What can MSFCU do to increase your satisfaction as an employee?
The following questions are for analytic purposes only. They will not be used to try to identify any individual. However, if you feel uncomfortable answering any of them do not do so. Whether or not you leave any questions blank, please return your questionnaire. 16. How long have your worked for MSFCU?
17. What is your age?
18. What area do you work in?
Thank you for answering this survey. Source: Maine Savings Appendix 11 
To: All Maine Savings Federal Credit Union Employees FR: John Reed RE: Employee Survey Thank you for your outstanding support in response to our employee surveys this summer. We had a 89% response rate with the surveys. The information gained from the survey will help to keep our organization on the continuous improvement journey. As we continue to grow and evolve, your feedback is important to help us improve in every area of our business. We used last year’s results to focus on a number of areas including, training, communication, and recognition of employees. Hopefully you have witnessed an increase in the scope of our training program, improved communication flow with more emphasis on staff meetings, a quarterly newsletter, a suggestion program, and the Cecil C. Porter Quality Award. I will summarize the results of the surveys below, by briefly discussing areas we need to improve on and areas to we must continue to sustain for peak performance. Our next step is to convene a focus group made up of a cross section of employees to help clarify many of the survey results and gather additional feedback. Rob Carmichael will be asking some of you to participate in the focus group. This is a voluntary request, but I do urge you to participate if asked. This is your opportunity to make MSFCU a better place to work and grow. Rob will contact you in the very near future. Again, I appreciate your support and participation in the survey process. Your participation in this survey has been and remains, completely anonymous. Thank you for being the catalyst toward continuous improvement, and for being a part of the Maine Savings Federal Credit Union team. John
Overview PROCESS. The survey was conducted using a combination of computer and paper. Some employees preferred to use the paper process out of a concern for confidentiality. A total of 57 surveys were completed for a response rate of 89%. RESULTS. Comparing 2004 with 2005 we increased score in 35 questions while decreasing in 13 and staying the same in 9. The most significant increases (3 tenths or more) came in the following questions: --question 2d “Management solicits feedback from employees and members on goals.” --3b “Outstanding member service is a value deemed important by MSFCU” --3c “Individual initiative is encouraged at MSFCU” --3e “Corporate values are known and reflected in the way MSFCU does business” --4a “MSFCU’s Corporate communications are frequent enough” --4b “MSFCU’s policies and procedures are communicated well” --6d “I have the materials and equipment I need to do my job well” --8c “Employees at MSFCU understand how teamwork impacts our service” --11b “MSFCU provides as much ongoing training as I need” The most significant decrease (more than 3 tenths decline) came in question 12h under benefits. This question asks about the level of satisfaction with salary. The only other question that decreased more than 3 tenths was question 7a “If I do good work I can count on making more money”. The remaining questions that showed a decrease are as follows: --2a “I have confidence in the leadership of MSFCU” (score 4.1) --2b “There is adequate planning of corporate objectives”’ (score 3.8) --2f “Management does not play favorites” (score 2.8) --4c “I feel I can trust what MSFCU tells me” (score 3.6) --6a “I have adequate authority to provide outstanding service to our members (score 4.1) --6b “I am given enough authority to make decisions I need to make” (score 3.9) --7a “If I do good work I can count on making more money” (score 2.9) --7b “If I do good work I can count on being promoted” (score 2.9) --7d “I am compensated appropriately for providing outstanding service to our members (score 3.3) --8d “Politics at this company are kept to a minimum” (score 2.8) --12c “Sick leave policy” (score 3.8) --12h “Salary” (score 3.3) --12j “Education reimbursement” (score 3.9) SUMMARY OF SURVEY RESULTS 1. OVERALL SATISFACTION WITH MSFCU. This area showed an increase from last year from an average of 3.9 to 4.2. Most of you responded on the positive end of the scale with only 12 responses noted in the neutral or below position on the scale. The majority of responses fell in the highest two responses (very satisfied) range on the scale. Overall employee satisfaction with employment at MSFCU is quite good though there is certainly room for improvement. 2. LEADERSHIP and PLANNING. This area indicates some degree of concern on your part. Three out of the eight questions showed a decrease in favorable response. This is troubling in that we spent significant time last fall attempting to communicate the direction of Maine Savings to the entire company. The area of communications is clearly a concern as reflected in the surveys. Consistency between what is said and what is actually done is a concern. There continues to be a concern over the question, “Management does not play favorites”. You did indicate much improvement in how management solicits feedback from employees. This entire section will require more analysis and discussion. 3. CORPORATE CULTURE. Once again this year, your responses made it very clear that quality and outstanding member service are well understood as part of our cultural ethic. The survey indicates improvement in 4 of the 5 questions. We will work to ensure that our corporate values are shared and understood by all. This is a positive area that we need to sustain. 4. COMMUNICATION. The results indicate small improvement in this area overall though not significant. Four of the five questions did improve but question 2c decreased. The question, “I feel I can trust what MSFCU tells me” showed a decrease. We need to analyze and understand all the problems with communication. This is a big, complex area that we will focus our efforts on. 5. CAREER DEVELOPMENT. Most responses fell in the positive side of the scale in this area. There are however, clear opportunities to improve training and to better communicate career path direction for each employee. This is an area that will continue to receive significant focus over the next year. 6. YOUR ROLE. The responses in this section were mixed. This year you appear to be pretty satisfied that you are contributing to MSFCU’s Mission and have the materials, equipment, and tools available to do the job well. Fewer of you feel empowered to do your jobs well and have the authority to make decisions you need to make. 7. RECOGNITION & REWARDS. This continues to be an area of concern for many employees. In about half of the categories the responses fell in the neutral and below part of the scale. Three questions showed a decrease from last year. Focus groups will be helpful to provide specific areas of concern, particularly where we added some formal recognition programs this year. 8. TEAMWORK & COOPERATION. Most of you believe you understand the effects of teamwork in providing outstanding member service, and that you feel a part of a team working toward a shared goal. There was significant movement from the lowest responses to the upper end of the scale. However, on question four, many of you suggest that “politics” impacts the effectiveness of the teamwork and cooperation within MSFCU. We will continue to explore the meaning of these results as part of the focus group effort. 9. WORKING CONDITIONS. The responses to questions in this section were for the most part, overwhelmingly positive and increased or stayed the same in all five questions. Most are pleased with their physical environment, workload, and balance between work and personal life. Unfortunately over 40% of you answered either neutral or less positive about your job security. We need to explore that question more deeply to better understand why those responses are as they are. 10. IMMEDIATE SUPERVISOR. The responses to these questions improved across the board this year. The average response is above 4.0 on every question. (Agree Somewhat-Agree Strongly) Fewer of you answered in the lowest portion of the scale this year. Still, there is room for improvement, particularly in supervisor communication. We need to continue the education and development process with a focus on communication. 11. MSFCUs TRAINING PROGRAM. We showed improvement from last year though there is room to get better. Most responses were positive. Nevertheless, your feedback indicates there is room for improvement in the training program. We need to solicit more input from employees on the type of training needed. 12. BENEFITS. 81% of you responded that you were satisfied with the MSFCU’s benefits package. The decreases this year came from the questions in the areas of salary, sick days, and education reimbursement. We continue to search for opportunities to keep health care costs down and maintain a competitive benefits package. This area will be continually reviewed to provide the best benefits possible for all employees. The issue of salary was clearly a concern as indicated in the written comments. Benefits will continue to be reviewed in order to be as competitive in the market as possible. Source: Maine Savings Appendix 12 
Source: Maine Savings Appendix 13 RECOGNITION FOR EXTRAORDINARY SERVICE March 10, 2005 Purpose: This document outlines the process for recognizing employees for exceptional service. Objective: Provide appropriate recognition to employees who provide exceptional member service. Reinforce behaviors that contribute to exceptional member service. Recognize an employee with the Cecil C. Porter Annual award for exceptional Service.
The recognition process should be a progressive one that increases to a point with each letter of commendation. It is important that we keep track of the positive letters/emails for each employee. Therefore, supervisors will need to provide the VP of HR/TNG a notice each time an employee receives a commendation. HR will track the number for each employee with back up at the supervisor level. We will recognize employees for each award they receive. The level of recognition and type of award will vary depending on the number of commendations. The information tracked by HR will be one part of the criteria used to select the annual Cecil C. Porter award winner. Criteria and award level: These awards are for a letter or email thanking employees for exceptional service beyond what is normally expected as part of their main role or function. This is activity within a 12 month time period. The VP of HR will forward these to the CEO to determine what level of recognition is warranted. One (1) letter/email
Two (2) letters/emails
Three (3) or more Letters/Emails
Cecil C. Porter Employee Service Passion Award:
Source: Maine Savings Appendix 14 Credit Life & Credit Disability Incentive Programs 
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