Benefits

At NIH Federal Credit Union, we understand that benefits are an important component of any career change decision. We take pride in the variety of benefits we are able to make available to our associates, including health care, retirement savings plans and tuition reimbursement.

Our Benefits include:

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• Health Insurance/PPO, HMO
• Dental/Vision Coverage
• Life Insurance
• Long-term Disability Coverage
• Vacation Benefits
• Sick Leave Benefits
• Paid Holidays
• 401K Retirement Savings Plan
• Defined Benefit Plan
• Tuition Assistance Program
• Employee Assistance Program
• SmartBenefits / Free Parking
• Other Benefits

This summary is presented for information purposes only and does not constitute an employment contract. The Credit Union reserves the right to amend, abolish or interpret benefit plans as conditions warrant.

Health Insurance Coverage

Health insurance benefits are provided to full-time and part-time associates through Blue Cross Blue Shield/Capital Care. The Credit Union contributes 70 percent of the monthly premium cost for you and your family for full-time and 50 percent for part-time associates. The associate contribution is 30 percent for full-time and 50 percent for part-time and can be deducted from pay on a pre-tax basis. This coverage includes major medical, hospitalization, and a prescription drug card.

Dental/Vision Coverage

Dental benefits are provided to full-time associates through MetLife, and vision benefits through Spectera Insurance Company. The Credit Union contributes 60 percent of the monthly premium cost for you and your family. The associate contribution is 40 percent and can be deducted from pay on a pre-tax basis.

Life Insurance Coverage (Accidental Death and Dismemberment)

NIHFCU provides life insurance and accidental death and dismemberment coverage to full-time associates through The Prudential Life Insurance Company. Coverage amounts for both plans are equivalent to three times annual salary. The Credit Union pays for 100 percent of the monthly premium amount.

Long-term Disability Coverage

Long-term disability coverage is provided to full-time associates through The Hartford Life Insurance Company. The Credit Union pays 100 percent of the monthly premium amount. Plan summary booklets are provided by the Human Resources Department.

Vacation Benefits

Annual leave is based on years of service as follows:

Full-time Associates:

• Less than 3 years: 13 days
• 3 to 15 years: 19.5 days
• More than 15 years: 26 days

Part-time Associates:

• Pro-rated basis

Annual leave may not be taken during the first 90 days of employment, although leave is earned during that period.

Sick Leave Benefits

Sick leave benefits are earned on the following basis:

• Full-time associates – 13 days

Paid Holidays

NIHFCU recognizes the following paid holidays:

• New Year’s Day
• Martin Luther King, Jr.’s Birthday
• Inauguration Day (for year of Presidential Inaugural)
• President’s Day
• Memorial Day
• Independence Day
• Labor Day
• Columbus Day
• Veterans’ Day
• Thanksgiving Day
• Christmas Day

401K Retirement Savings Plan

NIHFCU offers a 401K Retirement Savings Plan through American United Life Insurance Company. With this plan associates may defer up to 100 percent of their bi-weekly earnings taken out on a pre-tax basis. Eligibility occurs on the first open enrollment period after three months of employment. Open enrollment is conducted on January 1, April 1, July 1 and October 1. Both full-time and part-time associates are eligible.

Defined Benefit Plan

In addition, associates who have been employed as a full-time or part-time associate for one year, working at least 1,000 hours in a 12-month period, would be eligible to participate in the Credit Union’s non-contributory pension plan. Vesting occurs with five years of service.

Tuition Assistance Program

The Credit Union recognizes the importance of continued education for personal growth and career development. Therefore, we offer educational assistance to full-time and part-time associates with $3,000 for undergraduate level courses and $5,000 for graduate level courses. Part-time associates receive $1,000.

Employee Assistance Program

NIHFCU offers an Employee Assistance Program (EAP) through Ceridian Performance Partners LifeBalance. The EAP provides counseling and referral services free of charge to all associates and their immediate family members.

SmartBenefits/Free Parking

NIHFCU offers free parking at its corporate headquarters and branch locations. In lieu of the parking benefit, associates who currently use public transportation to commute from home to work, and associates who switch from driving to using public transportation can receive up to $85 per month in SmartBenefits from NIHFCU. In addition, associates can have up to $30 withheld from their paycheck each month on a pre-tax basis, for a maximum benefit of $115.

Other Benefits

Credit Union associates have the opportunity to open a variety of accounts, which include Share Draft (checking). In addition, other savings plans, loans and services are available.

As of April 23, 2008