New South Federal Savings Bank  
Deposit Products   Home Loans   Automobile Lending   Company Information
   Home | Customer Service Company Information
 

Health Insurance

Company subsidized medical coverage through Blue Cross-Blue Shield (PPO), is available to full time regular employees and their dependents, and the employee portion of premiums may be paid on a pre-tax basis through payroll deduction. The company pays a portion of the monthly premium.

Dental Insurance

For full time regular employees, the Company pays half the monthly premium on dental coverage provided through Southland National Insurance Corporation. The employee portion of monthly premiums may be paid on a pre-tax basis through payroll deduction.
back to top

Vision Care

Vision Choice Alliance offers employee discounts on glasses, contact lenses and eye exams in certain locations within Alabama.
back to top

Life Insurance

The Company provides, at no cost, group term life insurance in an amount equal to one times your annual salary, not to exceed $50,000 to full time regular employees. You may purchase, at your own expense, thru payroll deduction, additional group term life up to three times annual salary.
back to top

401K Retirement Plan

The Company offers each employee the opportunity to save for retirement by deferring a portion of salary by payroll deduction into a trust account with ten investment fund options. Income taxes on the amount withheld and earnings thereon are deferred until withdrawal. Additionally, the Company typically declares a match at the end of each calendar year.
back to top

Benefit Credit Plan

In February of each year, a benefits credit is paid to each full time regular employee annually, (eligibility depends on start date), equal to 5% of base salary in the first year, and 10% annually thereafter, capped at $5,000. This may be taken by the employee in cash, paid out over the 24 pay periods in a year, or may be designated for use in a Flexible Spending Account on a pre-tax basis. If taken in cash, it is taxable to the employee on each pay period.
back to top

Tuition Reimbursement

Training and continuing education are an integral part of a career. The company reimburses tuition (based on grades) for job-related courses successfully completed by full time regular employees who have completed six months of continuous employment.
back to top

Short & Long Term Disability

After 90 days, full time regular employees are eligible for short term disability which provides for 60% of the employee’s base salary, not to exceed $5,000 monthly, taxable to the employee, beginning at day 31 of disability and going through the sixth month of disability. Long term disability also provides 60% of base salary not to exceed $5,000 monthly, taxable to the employee, and must be applied for through American United Life Insurance Company. Supplemental long term disability insurance may be purchased by the employee at reasonable group rates.
back to top

Personal/Sick Days

(Must be taken in increments of one hour or greater)
Six days per calendar year are granted to full time regular employees. Start dates govern number of days in the first year of employment.
back to top

Vacation Day

(Must be taken in one-hour increments or greater)
First year of service, full time regular employees earn one vacation day (8 hours each) for each full month worked, up to 10 days (80 hours), but vacation may not be taken until after 90 days of employment.
Years 1-4 10 days (80 hours or 2 weeks)
Year 5 11 days (88 hours)
Year 6 12 days (96 hours)
Year 7 13 days (104 hours)
Year 8 14 days (112 hours)
Year 9 and up 15 days (120 hours)
back to top

Holidays

New Year’s Day
Martin Luther King, Jr. Birthday
Memorial Day
Independence Day
Labor Day
Thanksgiving
Christmas Day
Birthday

When a holiday falls on Sunday, the Company will typically observe it on Monday.
back to top

Birthday Holiday

Each employee is given a holiday for their birthday, which may be taken at any time during the year, subject to supervisor approval. (Full time regular employees)
back to top

Bereavement Leave

5 days paid leave for death of spouse or child
3 days paid leave for death of parent, sibling, grandparent, great-grandparent or spouse’s parent
3 hours paid leave to attend the funeral of a co-worker.
(Full time regular employees)
back to top

Flexible Work Hours

Many departments participate in “Flex Time”, subject to supervisor approval and departmental needs.
back to top

Employee Assistance

The Company has partnered with ChildCare Resources, Inc. to provide referral services on child care and elder care, as well as information and counseling on adoption, college, and lactation issues. These services are at no cost to our employees. In addition, Lunch n Learn sessions often address work-life balance issues.

Additionally, the Company has partnered with Sawyer and Associates, to provide counseling and referrals, in an Employee Assistance Program. Sawyer’s services are provided at no cost to the employee, and may be used in relation to financial problems, marital problems or issues, drug or alcohol related issues of an employee or dependent.
back to top



BENEFITS

Company Information
 

Downloads

 

MEMBER FDIC  -  Equal Housing Lender