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Benefits of Working at the UICCU
What's important to our employees is important to us! The University of Iowa Community Credit Union is pleased to provide benefits that contribute greatly not only to your total compensation, but also to your personal well-being and that of your family. From perks like discounted logo-wear to comprehensive insurance coverage, the UICCU offers comprehensive benefits to fit your needs and lifestyle.
From comprehensive health care coverage to a generous retirement plan to discounted logo-wear, the UICCU's benefits take care of the people who take care of our organization!
The UICCU's health insurance plan benefits offer comprehensive coverage and provider network choices as well as out-of-pocket maximums to protect you financially from expensive medical bills due to an illness or injury. A key focus of our health insurance plan is preventive care and wellness benefits.
Health benefits are available to full-time and eligible part-time employees. Coverage for full-time new hires begins on the first of the month following the completion of 60 days of employment.
Here are the key features:
- PPO Network: The health plan gives you access to a Preferred Provider Organization network of health care providers through Wellmark Blue Cross/Blue Shield. When you receive care from an in-network provider, you save money. You can choose to receive care from outside the network, but your out-of-pocket costs will be higher. Over 90% of Iowa's physicians are within network!
- Co-insurance: If you choose to receive care within the network, you pay 20% co-insurance. When you choose to received care outside of the network, you pay 30% co-insurance.
- Deductible: This is a fixed amount you pay for certain services before our Insurance provider makes benefits payments. The benefit period deductible is $1,500 for a single contract and $3,000 for any other contract type.
- Co-pay: A $20 co-pay is charged for eligible in-network office visits to a Primary Care Provider. (This includes: family and general practitioners, internal medicine practitioners, obstetricians/gynecologists, pediatricians, physician assistants, and advanced register nurse practitioners. A $40 co-pay is charged for office visits to Non-Primary Care providers. (Examples of non-primary care providers include: specialists, behavioral health care practitioners, chiropractors, dermatologists, etc.)
- Out-of-pocket maximum: Once you meet your out-of-pocket maximum, the UICCU covers 100% of eligible expenses for the remainder of the Plan Year. The out-of-pocket maximum is $3,000 for a single contract and $5,000 for any other contract.
- Prescriptions: Coverage for prescription drugs is provided through BlueRX. Employees will pay $4 for generic, $25 for preferred brand, $40 for non-preferred brand drugs, and $150 for select non-preferred brand drugs. A $100 (Single) / $200 (Family) deductible applies for all non-generic brand drugs.
The UICCU offers dental insurance coverage through Delta Dental of Iowa. This plan offers care through a network of dental providers who have agreed to discounted rates. You can choose the provider that is right for you. You may elect dental coverage independently of health insurance coverage.
Health benefits are available to full-time and eligible part-time employees. Coverage for full-time new hires begins on the first of the month following the completion of 60 days of employment. The Credit Union pays a portion of the insurance premium, depending on the type of contract coverage chosen.
Here are the key features:
- Prevention: Delta pays 100% of the cost of teeth cleanings and exams twice per year.
- Co-insurance: You pay 20% for most other dental services including cavities, root canals, etc.
- Orthodontia: Orthodontia benefits are provided for dependent children up to the age of 19.
- Out-of-pocket Maximum: Delta pays up to $1500 per person per year for dental expenses. Once this maximum has been met, you pay the remainder of your dental bills for the calendar year.
The UICCU offers a Vision Discount Plan specifically designed to provide you and your covered family members with quality professional care and optical materials at a tremendous savings. The annual cost of this program is minimal in comparison to the potential savings benefit. Upon election, coverage begins on the first of the month following 60 days of service.
Staff are eligible to participate in a supplementary option benefits provided by Aflac including Accident, Cancer, and Hospital Protection plans. Aflac is an extra measure of financial protection. When you're sick or hurt, Aflac pays cash benefits directly to help you and your family with unexpected expenses. The benefits are predetermined and paid regardless of any other insurance you have. Aflac is a benefit offered once each calendar year during annual open enrollment in the month of December.
Flexible Spending Account (FSA) Plan
This Plan is a three-part benefit which offers an opportunity for full-time employees to pay for UICCU group health and dental insurance costs, eligible out-of-pocket health care expenses and dependent care expenses on a pre-tax basis. By paying for these expenses on a pre-tax basis, taxable income is lowered resulting in more take-home pay for participating staff.
PART I: Premium Conversion
Premium Conversion provides employees with an opportunity to pay for group health and dental insurance premiums with pre-tax dollars. Coverage for full-time new hires begins on the first of the month following the completion of 60 days of employment.
PART II: Health Care Reimbursement Program
Through the Health Care Reimbursement Program, you can set aside a portion of your regular income from each paycheck (up to $2,400) before most payroll taxes are taken out to pay for eligible health care expenses for you and your dependents, such as: medical, dental or vision deductibles and co-pays
- Eyeglasses, contact lenses and contact lens supplies
- Over-the-counter drugs and medical supplies such as cold medicine and bandages
- Prescription drugs
- Laser eye surgery
- And much more!
The money you put into your Health Care Reimbursement account is never taxed, and your tax savings can add up to hundreds of dollars per year.
PART III: Dependent Care Reimbursement Program
This benefit allows staff to pay for eligible dependent care expenses with pre-tax dollars, including nursery, daycare, or home care expenses for dependent children under the age of 13, as well as expenses for a dependent disabled child regardless of age. Additionally, benefits through this plan are also available to employees who provide at least 51% of the support for a disabled spouse or parent. Coverage for full-time new hires begins on the first of the month following the completion of 60 days of employment.
Peace of Mind
The UICCU provides all full-time employees with Group Life Insurance coverage. The benefit value is 1.25 times total compensation for Wealth Management staff and 2.5 times annual base pay for all other staff up to a maximum of $500,000. Life insurance coverage begins on the first of the month following the completion of 60 days employment. Beneficiaries are appointed by the employee and can be changed at any time. There is no cost to the employee as premiums are paid by the Credit Union.
Accidental Death and Dismemberment Insurance
In addition to Group Life Insurance coverage, the UICCU provides all full-time employees with additional coverage and protection in the event of accidental death or bodily injury. Accidental Death and Dismemberment Insurance (AD&D) provides up to an additional 2.5 times an employee's annual base salary in the event of an accidental death and will cover for specified bodily injury losses subject to policy limitations. Coverage begins on the first of the month following the completion of 60 days employment. There is no cost to the employee as premiums are paid by the Credit Union.
The UICCU provides all full-time employees with protection against loss of income due to illness or injury with Long Term Disability Insurance (LTD). The LTD benefit provides income to employees who are disabled and unable to work for a period of time. Benefits begin after 90 days of disability and will cover up to 66 2/3% of an employee's monthly salary up to a maximum of $10,000. (Offsets may include retirement or government plans, other group disability plans, settlements and payments received, no-fault benefits and return-to-work earnings.) Coverage begins on the first of the month following the completion of 60 days employment. There is no cost to the employee as premiums are paid by the Credit Union.
A Helping Hand
Employee Assistance Program
The Employee Assistance Program (EAP) is a free and confidential counseling service to help you, your dependents and other household members resolve personal issues. Through this program, experienced, licensed mental health professionals (including psychologists, clinical social workers and marriage, family and child counselors) are available to help you with:
- Marital, family or relationship problems
- Stress, anxiety or depression
- Adolescent behavior problems
- Alcoholism or drug dependency
- Conflicts at work or at home (occupational issues, balancing work and life, etc.)
- Eating disorders
- Stress from financial or legal difficulties
The EAP has trained specialists on staff 24-hours a day, seven days a week. Assistance sought is held in the strictest of confidence; the employee's right to privacy is one of the most crucial aspects of this program. The cost of initial assessments and short-term counseling is covered by the Credit Union. Continued treatment or additional services are at the expense of the employee or family member, but may be covered by health insurance plans.
EAP benefits are available to all full-time and part-time employees, their dependents, and any other household member.
EAP benefits begin upon your hire date.
True to the UICCU's mission of "We improve the quality of life in our communities by promoting the financial well being of our residents" … our own employees' credit worthiness is of utmost importance to us! To that end, the UICCU works with all new and existing employees in review of their personal financial well-being to ensure that any financial products they have in hand, regardless of origin, are competitive and provided at an affordable rate. True to our value of "trust", our employees can place their vote of confidence in the UICCU as their preferred financial institution!
Business Casual Wear
You have the option to dress professionally or in business casual attire 6 days a week, Monday through Saturday. You are encouraged to "dress for your day". If you have appointments scheduled, professional attire may be the best option. For those non-appointment days, you may be interested in purchasing Credit Union logo wear. The UICCU is pleased to share half of the cost of any Credit Union logo wear shirt or sweater that you order, and there is no limit to the number of items can be ordered. This is a great opportunity for you to not only represent the Credit Union but also to enhance your CU wardrobe at a very affordable cost!
Parking is not always as easy as it sounds in the communities in which we operate and serve our members. Many businesses expect employees to pay for their daily parking expenses. The Credit Union, however, is pleased to provide you with exceptional work environments, which to us, also extends to the parking lot! The convenience of available parking may vary from branch to branch, but the cost of parking remains consistent – free, and at no cost to you!
Preparing for the Future
401(K) Retirement Plan
The UICCU's 401(k) plan allows you to save for retirement by providing you with an opportunity to set aside money from each paycheck either before or after taxes are taken out through Standard or Roth contributions.
You are eligible and begin to participate in this plan on the first payroll of the month following your hire date and attainment of age 18. As a participant, you may elect to contribute up to the IRS elective deferral limit each calendar year. The Credit Union offers a Safe Harbor Match for all participating staff. The UICCU also provides a discretionary match opportunity based on both employee contribution levels and years of service. For staff that have participated in the plan for less than five years, the total match opportunity is 5% (safe harbor plus discretionary.) For staff that have participated in the plan for five years or longer, the total match opportunity is 11% (safe harbor plus discretionary.)
Employees are always 100% vested in the contributions they choose to defer. Employees are vested in Credit Union contributions after being employed for three (3) or more years in which 1000 hours or more have been worked. All full- and part-time staff are eligible to participate in this benefit.
The UICCU believes that a work-life balance is important to your health and well-being. One benefit available to help provide this balance is vacation time away. All full-time staff begin to accrue vacation on their date of hire, and this benefit can be used for any reason. Upon qualification and election, part-time staff are also eligible for pro-rated vacation accruals.
Eligible full-time employees accrue vacation according to the following schedule:
Anniversary Date...........................Annual Accrual
Until 2nd.........................................8 days (64 hours)
Beginning 2nd................................13 days (104 hours)
Beginning 5th.................................18 days (144 hours)
Beginning 10th...............................23 days (184 hours)
Beginning 20th...............................28 days (224 hours)
A very generous sick leave plan is available to all full-time staff with accruals equal to one day per month of sick leave. All-staff begin to accrue sick time away on their date of hire. Part-time staff are also eligible for pro-rated sick leave accruals on the first of the month following 6 months of service.
Sick leave accruals are available for:
- Employees who are unable to perform regular duties due to personal illness or injury
- Illness of a dependent
- Scheduled dental and medical appointments for employees and/or dependents
- Medical conditions related to pregnancy and childbirth, to the extent that accruals are available to cover the leave
The funeral leave policy allows up to three days off due to the death of a qualifying family member. These three days of accruals will be charged to employee sick leave banks. Full-time employees are eligible for this benefit beginning Day 1 of employment. Part-time employees are eligible on the first of the month following 6 months of service.
If chosen for jury duty or deposition during regularly scheduled work hours, employees will be paid for time spent in court at their regular rate of pay without charge to sick or vacation leave accruals. All full-time and part-time employees are eligible for this benefit.
All full-time and eligible part-time employees receive the equivalent of 10 paid holidays each calendar year. Full-time employees are eligible for this benefit beginning Day 1 of employment. Part-time employees are eligible on the first of the month following 6 months of service.
The UICCU is an EEO/AA Employer.