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Emergency Loan Programs For Employees

Answered by: 
Dana Turner

Question: 
I attended a seminar taught by BOL Guru Dana Turner. In it, he mentioned having available a $300.00 loan program for staff having financial difficulties. That was of particular interest and we are interested in setting up such a program. I would think this would have to be a Human Resource function and, if so, should it be in our employee handbook? Could we also state in our employee handbook that borrowing from co-workers is not an acceptable practice in our bank?
Answer: 

Yes, the "emergency loan program" information should be included inyour employee handbook and discussed with each employee during his/her orientation. You can place "borrowing" information and any other related information in the handbook -- but please get your legal counsel's approval before you do it.

First published on BankersOnline.com 3/5/01

First published on 03/05/2001

Filed under: 
Security
Filed under security as: 
Employee
IT

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