Updated March 29 at 12:29am

Banking on a culture of trust

By Bridget Botelho
Contributing Writer
Middletown-based BankNewport enjoys success in retail banking, commercial and residential lending, mortgage servicing and group insurance trust thanks to dedicated employees. In turn, the bank offers plenty of development programs and incentives to encourage professional and personal success. More

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A PBN SPECIAL SECTION: 2011 BEST PLACES TO WORK

Banking on a culture of trust

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Middletown-based BankNewport enjoys success in retail banking, commercial and residential lending, mortgage servicing and group insurance trust thanks to dedicated employees. In turn, the bank offers plenty of development programs and incentives to encourage professional and personal success.

The mutual-savings bank has built a culture of trust where employees openly share ideas and opinions in a friendly environment, and their accomplishments are celebrated by executive managers, said Wendy Kagan, senior vice president of human resources at BankNewport.

An employee bonus plan provides spot bonuses for all workers, giving managers a way to recognize those who go above and beyond. BankNewport also offers an incentive program for retail and call-center staff, who receive monthly incentive awards based on achievements such as meeting referral goals and new-account sales.

There is also an annual executive-bonus program with cash rewards based on bank performance, individual contributions and board-of-director discretion.

In addition to offering career-development opportunities and financial rewards, BankNewport offers a Vitality Wellness Program to promote healthy lifestyles through seminars and activities such as the annual Walk for Fitness competition.

The bank encourages employees to participate in community activism through its United Way Campaign and Dare to Care weeks, in which employees volunteer at food banks. BankNewport’s culture is also flexible enough for employees to achieve a healthy work-life balance, and the company offers seminars to help with time management and stress reduction. •

26-10, 061311 Large companies, banking, financial services, human resources, 2011 best places to work, BankNewport, , 2ndary: banking, financial services, human resources, 26-10, 2011BPTW.pbn

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