Benefits
Capitol Bancorp Limited offers a very competitive benefits and compensation package to its employees, including the following:
Health Care: Capitol Bancorp Limited offers three health insurance plans to better meet the individual needs of its employees. Each plan has a three-tier pharmaceutical card. Capitol offers Humana insurance coverage. This benefit is for employees working 30 hours or more per week.
Group Life Insurance/long-term disability: These are available to all permanent full-time employees at no charge.
Supplemental Life Insurance (voluntary): Employees can elect up to $300,000 in additional life insurance. Coverage for spouse and children is also available.
Vision Insurance: Benefit includes one vision plans which offers unique coverage for the employee and their family. Both plans offer a user-friendly network of providers.
Dental Insurance: Capitol offers a three-tiered dental insurance plan with orthodontic coverage for children and adults.
401k: Capitol Bancorp Limited's 401-k plan offers over 20 different types of investment vehicles, including Capitol Bancorp Limited stock.
Tuition Reimbursement: Capitol Bancorp Limited encourages all employees to further their education and to increase their effectiveness in their present job. Tuition reimbursement is available to all full time employees who take courses related to their job. Educational assistance is available up to and including graduate classes. Employees can receive up to 75% in tuition reimbursement.
Cafeteria Flex Plan: This plan allows employees to save money by paying current eligible expenses on a pre-tax basis. Employees can elect specific dollar amounts for qualified medical expenses and/or for qualified dependent care.
Direct Purchase and Dividend Reinvestment Plan: All employees of Capitol Bancorp Limited may make optional cash investments under Capitol Bancorp Direct, the Capitol Bancorp Limited Direct Purchase and Dividend Reinvestment Plan. With this plan employees can authorize automatic deductions from each paycheck for the purchase of Capitol Bancorp common stock.
Employee Stock Ownership Plan: Capitol Bancorp maintains an Employee Stock Ownership Plan (ESOP) for its employees and the employees of its participating subsidiaries. Contributions are made to the Plan at the discretion of Capitol's Board Directors and are typically in the form of shares of CBC stock. In addition to the allocations, participants earn dividends on their shares while in the Plan.