Benefits

Vantus offers the following benefits for regular full-time and regular part-time employees (service requirements to determine eligibility for some benefits listed vary based upon the benefit rules and contract design): Benefits are subject to change.
  • Health Insurance
    • Name of the plan is Wellmark Blue Cross/Blue Shield
    • Alliance Select Plan (covered expenses incurred at a participating doctor's office are covered at 90% and the deductible is waived).
    • Choice of 3 deductible levels for traditional coverage and a qualified high deductible plan/health savings account is also available.
    • Coverage begins the first of the month following date of hire for eligible employees.
  • Blue Rx Drug Program
    • Eligible prescriptions are covered with a $10.00 co-pay if a generic drug; a $25.00 co-pay if included in the formulary list of drugs; out of formulary list covered at $40.00 co-pay (co-pay does not go toward out of pocket or deductible)
    • No deductible
    • Mail order option provides additional savings
    (These do not apply to high deductible health plan/HSA.)
  • Dental Insurance
    • Coverage begins the first of the month following date of hire for eligible employees.
    • Choice of two plans with varying degrees of coverage
    (These do not apply to high deductible health plan/HSA.)
  • Employee Assistance Program (EAP)
    • Provides free, confidential initial counseling and referral services for all employees and family members for any type of problem or concern (generally a maximum of three sessions)
  • Tuition Reimbursement Program
    • A maximum of $1000 per year is available for regular full-time and regular part-time employees to take pre-approved classes through BAI, any college, university or technical school
  • Flexible Benefits
    • Employees can set aside money on a pretax basis for medical premiums, child-care expenses, and un-reimbursed medical expenses
    • Pre-taxing premiums and child care expenses is allowed if employee has an HSA. Limited use flex account can be used only for vision and dental expenses if employee has an HSA.
  • Computer Loan Benefit
    • Eligible employees can receive an interest-free loan to purchase a computer for home use
  • Payroll Account Benefit
    • If employees choose to have their payroll directly deposited into a Vantus account, that account will have no monthly service charges, no minimum balance will be required, and checks and ATM/debit card will be free
  • Wellness Reimbursement Benefit
    • Regular full-time employees can receive a maximum of $100 per year and regular part-time employees can receive a maximum of $50 per year to reimburse them for expenses incurred purchasing exercise equipment for home use, taking a health or wellness course or for joining a health club
  • Wellness Benefits
    • Occasionally, Vantus may offer flu shots, health screenings or other health related opportunities free of charge or at a substantially reduced rate for employees and possibly for spouses
  • Life Insurance
    • Term life insurance at one times the employee's annual salary is provided at no cost to regular full-time employees
    • Regular full-time employees have the opportunity to purchase additional insurance for themselves and eligible dependants at competitive rates
    • Accidental death and dismemberment (AD & D) coverage is part of the company benefit and available with the additional coverage
  • Employee Stock Ownership Plan (ESOP)
    • Qualified Retirement Plan that allows Vantus to reward employees with shares of company stock
    • Regularly scheduled employees are enrolled the first of the month following 90 days of employment and attainment of age 21
    • Provided at no cost to the employee
    • Five year vesting
  • Commissions and Discretionary Incentive Award Plan
    • Opportunities to earn additional income are available for certain positions and may be based upon sales or the attainment of overall bank, department or personal performance goals
  • Paid Holidays
    • Holidays observed by the bank are paid holidays for regular full-time and regular part-time employees scheduled for 20+ hours per week
    • Each year, holiday hours may be granted if the bank closes early in observance of Christmas and New Year's Eve
  • Paid Time Off (PTO) and Extended Illness Banks (EIB)
    • Allows flexibility for work/life balance
    • Accrual of PTO and EIB begins immediately for new employees
    • PTO and EIB hours accrue based upon tenure, exempt/non-exempt status and hours worked
    • PTO can be used for vacation; illness of employee, family member or friend; school appointments; unpaid religious holidays; personal reasons, etc
    • EIB provides income protection for more extended periods of illness and as a bridge to Long-term Disability Plan
    • EIB can be used for personal or physician-approved immediate family illness from the fourth day of illness until covered by long-term disability, if applicable
  • Leave Sharing Bank (LSB)
    • Assists eligible employees who suffer a "Medical Emergency" which would be a medical condition of an employee or employee's immediate family member (parent, spouse, child or such step relatives) that requires prolonged absence of he employee from work and will result in a substantial loss of income to the employee
  • Compassionate Leave
    • Maximum of three days paid leave in event of death of immediate family member (additional days without pay if circumstances warrant)
  • Paid Jury Duty Leave
  • Military Duty Leave
  • Educational Opportunities
    • Seminars, conferences, etc. may be paid for job-related purposes
    • Free "Lunch and Learn" sessions provided periodically
    • Free resources (books, tapes, videos) may be checked out from employee library
  • Community Involvement
    • Vantus encourages involvement in community organizations and activities and may pay membership fees, etc.
    • Program is in place to recognize volunteer activities
  • "Because Vantus Bank Cares"
    • Program developed to allow employees to assist community members in need. Employees contribute one dollar per month to the "Because Vantus Bank Cares" fund. The bank matches these funds and donations are made to community members
  • Long Term Disability Insurance
    • Provided at no cost to regular full-time employees
    • This benefit provides 60% of normal pay to disabled employees who meet the eligibility requirements of the insurance
  • Discovery Tours
    • Employees are given the opportunity to spend time in other departments and/or offices to learn about the overall operations of the bank
  • 401(k) Plan
    • A Qualified Retirement Plan that allows employees to save money for their retirement. Employees who participate receive a company match.
    • Regularly scheduled employees who complete 3 months of service of 250 hours or more and have attained age 21 are enrolled in the plan
    • Enables employees to set aside money on a tax deferred basis
    • Employees may defer up to 75% of their salary
    • Vantus matches 50% of the first 6% of an employee's contribution
    • Graduated 4 year vesting
  • Employee Loan Benefit
    • Regular full-time and regular part-time employees receive a one half percent (1/2%) reduction in normal quoted mortgage origination loan fees through Vantus. (This benefit does not apply to other loan costs such as appraisals, abstracts, titles, opinions, etc.) Regular full-time employees only can also receive a 1/2% cut in par rate on interest rates (some restrictions do apply)
    • Regular full-time and regular part-time employees receive a 1% rate cut on interest rates for consumer loans through Vantus (some restrictions do apply)
  • Birthday Benefit
    • One half day paid time off is granted to regularly scheduled full-time and part-time employees in recognition of their birthday
  • Short Term Disability Benefit
    • Optional voluntary benefit offered to full-time employees after 90 days of employment.
    • Benefits begin after 7 consecutive days of total disability due to illness or accidental injury.
    • Provides 60% of weekly salary