At First Interstate, we endeavor to be the best place to work in the best place to live. We recognize that employees with high morale serve our customers better, stay with the company longer and provide continuity throughout the broad spectrum of services we offer our customers. Our success in attracting and retaining employees has been a key factor in our ability to continue to grow as well as maintain the highest level of service to our many customers. We attract and retain qualified employees through the combination of:
First Interstate encourages our employees to continuously develop their personal and professional skills. We strive for exceptional customer service, performance excellence at the bank/department level and individual achievement through challenging and rewarding work.
First Interstate offers our employees a very competitive benefit package that recognizes many families have different needs. Therefore our philosophy and the design of our benefit programs is to provide employees and their families as much choice as possible. Employees can tailor their coverage to their needs through a cafeteria-style approach.
Our benefit package includes:
First Interstate offers a group health plan to all employees working 20 or more hours per week. Coverage is available 90 days following employment date. Employees have a choice between 3 plans, which vary by deductible and coinsurance amounts. The standard plan has a $750 annual deductible. The standard plan coinsurance payment is 80%.
Employees have the choice of purchasing either the preventive or the standard plan. The preventive plan pays for up to two visits per plan year for diagnostic and preventive care: checkups, teeth cleaning and X-rays. The standard plan has a $50 individual deductible with coinsurance payment of 80% on preventive and basic dental services and 50% coinsurance on major restorative services.
Health plan participants may purchase optional vision coverage. Each year, within benefit maximums, the plan pays for either contact lenses or glasses. The plan pays for an eye exam every year.
Prescription drug annual deductible is $100/$200 Individual/Family. Annual out-of-pocket maximum is $750/$1500. A co-insurance of 10% to 30% applies after deductible is met.
Flexible spending accounts allow eligible employees to pay for some dependent care and health care expenses with pre-tax dollars. The set aside is deducted from gross income before taxes are calculated, reducing taxable pay.
Employees working 20 or more hours per week automatically have basic group life insurance coverage after 90 days of continuous employment. In most cases, the benefit is equal to 2 ½ times annual earnings up to a maximum of $300,000.
Employees working 30 or more hours per week can submit eligible childcare expenses and be reimbursed either $2.00 or $5.00 per day depending on the age of the child and employee income level.
Employees working 20 or more hours per week are automatically enrolled in the 401K savings plan on the 1st of the month following date of hire. Eligible employees select the percentage of salary to be withheld. The company matches the employee’s first 4% of savings at 125%. Contributions and earnings are tax deferred until withdrawn. Employees automatically receive a discretionary profit sharing contribution each quarter based on company profits.
Employees can accrue up to 288 hours of PTO each year depending on years of service and status. PTO can be taken in any approved combination of hours. Employees can sell back to the bank up to 24 hours of PTO each year.
As an employee of First Interstate you are also eligible for free and/or discounted banking products and services. We are proud of our benefits package. In the face of mounting competitive pressures, we are pleased that we have retained our high level of benefits!
We believe our benefits package is one of the main reasons, along with competitive salaries and effective human resource policies, for our success and continued growth.
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