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​Medical

Employees may choose between two medical plan options through Blue Cross Blue Shield of Massachusetts: HMO Blue New England or Blue Care Elect PPO Saver (High Deductible). Both are available for either individual or family coverage.

Dental

Employees may choose between Delta Dental’s low option plan, which covers $750 per person per year, or their high option plan, which covers $2,000 per person per year.

Vision

VSP covers a WellVisionExam^® every 12 months plus generous discounts on frames and lenses. Employees may choose individual or family coverage for this plan.

Health Savings Account (HSA)

A Health Savings Account is a tax advantaged account for the purpose of paying for eligible medical, dental, and vision expenses. Employees enrolled in the HSA will be provided an annual employer contribution up to $750 for individual coverage and $1,500 for family coverage.

Flexible Spending Account (FSA)

Employees may elect this reimbursement account to pay for eligible expenses that are not paid by the medical, dental, or vision plan.

401 (k)

Employees may elect to contribute up to 75% of their gross income by deferring pre-tax or post tax (ROTH) up to the IRS annual maximum. The Bank will match up to 3% of what an employee contributes to the plan, plus an additional employer Safe Harbor contribution which is currently 4% of gross salary. All contributions are subject to IRS regulations.

Paid Time Off (PTO)

Paid time off (PTO) is a pool of hours that provides flexibility for the employee to use at their discretion. The Bank provides 20 PTO days (160 hours, 4 weeks) to all regular full-time and regular part-time employees (pro-rated base on approved work schedule).

Sick Time

In accordance with MA sick pay law, all employees will be granted 40 hours (5 days) of sick time per year. The 40 hours of sick time will be granted upon hire and at the beginning of each calendar year. A maximum of 40 hours of sick time may be carried over from calendar year to calendar year with a cap maximum of 80 hours. 

Tuition Reimbursement

All employees can benefit from the Bank paying 100% of costs up to $5,250 per year for undergraduate and graduate courses, as well as qualified professional certifications. This includes costs for tuition, fees, books, and materials.

Student Loan Repayment

Employees qualify to receive $100 per month over the course of five years via an online account with the Bank’s student loan payment vendor to help pay down the principle of their student loan.

Child & Elder Care

Full-time and part-time employees scheduled to work a minimum of 21 hours per week are eligible to receive reimbursements for child and/or elder care costs.

FSA – Dependent Care

Employees may elect this reimbursement account to pay for eligible dependent care expenses for children, parents, and in some cases a spouse.

Volunteer Time

Approved Bank-sponsored events or programs are counted as paid time. In addition, full and part-time employees are eligible to use up to 16 hours per year of paid time for volunteering with any 501(c)(3) organizations of their choice.

Donation Matching

Cape Cod 5 matches eligible donations to 501(c)(3) organizations up to $500 per year for each employee.

Long Term Disability (LTD)

Employees are automatically enrolled into the Bank’s LTD plan, which provides an employee who has a qualifying disability 60% of their pay after a 90 day elimination period.

Life Insurance

Employees are provided, at no cost to them, $100,000 of group life insurance. Employees are also given the option of purchasing additional voluntary group life insurance for themselves, their spouse, and/or eligible children.

Other Programs & Benefits: 

Homebuyer Program

Employee Referral Program

Verizon Discounts

Premier5 Account

Pet Insurance

Electric Vehicle Lease/Purchase