a benefits program that keeps employees in mind.
As a trusted employer, you share our purpose in supporting your team’s financial well-being and happiness. And wherever they are in life, we’re right there with you providing products and services that fit your employees everyday.
to get started:
- Contact your Five Star Bank Representative to schedule an informational Workforce Plus session
- Sign your business up to be a participating member of the Five Star Bank Workforce Plus program
- Provide leave behind product information for your employees
- Empower your team to glean the benefits of checking account bonus offers, lending benefits and other financial tools
"One in five employees admit that productivity at work has been impacted by financial worries, while nearly one in three blame diminished productivity on health concerns. That’s a significant impact to a company’s bottom line. We’re committed to helping you give your team what they deserve in order to plan ahead, make progress, and achieve every goal along the way."
- Business Banking Relationship Manager, Five Star Bank
To take advantage of Workforce Plus program benefits, you must mention that your employer is a participating member of the Five Star Bank Workforce Plus program. Your employer’s participation will be verified. Insurance and investment products and services are not FDIC Insured, are not a deposit or bank guaranteed, are not insured by any Federal governmental agency, and are subject to investment risks, including possible loss of the principal invested. Insurance products may be provided by SDN Insurance Agency, LLC, an affiliate of Five Star Bank.
1To receive the $300.00 bonus, you must open a Workforce Plus Premier Checking (NOW account), or to receive the $150.00 bonus, you must open a Workforce Plus Progress Checking, Workforce Plus Plus Checking, or Workforce Plus Traditional Checking account online or in branch. In addition, to receive the bonus, you must establish a direct deposit into your account within 60 days from the last day of month the account was opened. Your direct deposit needs to be recurring electronic deposit of your paycheck, pension, or government benefit (such as Social Security) from your employer or the government. The bonus will be deposited into this checking or NOW account within 90 days from the last day of the month the account was opened. The account must be open and in good standing at the time the bonus is deposited. A $10.00 minimum deposit is required to open a Workforce Plus Progress Checking account and a $25.00 minimum deposit is required to open all other Five Star Bank Workforce Plus checking or NOW accounts. The bonus cannot be used as the opening deposit. Offers not available to existing Five Star Bank consumer checking or NOW account holders, or those who have closed a Five Star Bank consumer checking or NOW account within 12 months or have an outstanding negative balance on a previously closed Five Star Bank consumer checking or NOW account. Business and municipal customers are not eligible. Bonus is limited to one account per customer regardless of the titling on the account. Restrictions and additional fees may apply. Offers subject to cancellation without notice and cannot be combined with any other offer. The Workforce Plus Premier Checking account is a variable rate account. The rate may change after the account is opened. The annual percentage yield (APY) on the Premier Checking account for $0.01 - $9,999.99 is 0.05%, $10,000.00 - $24,999.99 is 0.05%, $25,000.00 - $49,999.99 is 0.07% and $50,000.00 or more is 0.07%. These APYs are accurate as of 9/30/2022. Fees may reduce the earnings. Bonus offered if the account is opened in a Branch or via Five Star Bank Online Account Opening. If opened online, you must be a U.S. resident with a physical address in NY, NJ, PA, MA, MD, or FL.
2All loans are subject to application and credit approval. A refinance of an existing Five Star Bank Home Equity Loan, Residential Mortgage Loan or Consumer Loan resulting in new terms and conditions does qualify. Application must be submitted at a Bank branch or with a Five Star Bank employee - applications submitted online are not eligible. Offer is subject to cancellation or change without notice. To receive the 0.25% interest rate discount, you must open a Workforce Plus Checking Account prior to closing the loan. Customers who open a Workforce Plus Premier Checking Account will receive a 0.25% interest rate discount for Premier Checking and a 0.25% interest rate discount for Workforce Plus resulting in a combined interest rate discount of 0.50%. For all other Workforce Plus Checking Accounts this offer can be combined with a 0.25% interest rate discount for an automatic monthly payment from a Workforce Plus Checking account resulting in a combined interest rate discount of 0.50%; you are not obligated to initiate automatic monthly payments, and if you choose not to initiate automatic monthly payments, you will only be eligible for the previously mentioned 0.25% Workforce Plus interest rate discount. Interest rate reductions will not exceed 0.50% for Workforce Plus Premier, or any of the other Workforce Plus Checking Accounts. This offer does not apply to Home Equity Lines of Credit or Personal Lines of Credit.
3Interest may be tax deductible - consult a tax advisor. Residential Mortgage is defined as a closing cost mortgage in first lien position only. Home Equity Loan is defined as a second lien position closed end mortgage loan. Existing Five Star Bank Residential Mortgages and Home Equity Loans will not receive a retroactive discount. To receive the Residential Mortgage and Home Equity Loan Credit, you must open a Workforce Plus Checking Account prior to closing the loan and initiate an Automatic Funds Transfer from your Workforce Plus Checking account to your Five Star Bank Residential Mortgage. The Residential Mortgage Credit will be applied to applicable closing costs and/or prepaid expenses and items.
4Not all Consumer Loans qualify for the offer. The following Consumer Loans qualify for the offer: Automobile Loans, Motorcycle Loans, ATV/Snowmobile Loans, Motorhome/RV/Camper Loans, Boat/Jet Ski/Other Watercraft Loans, and Personal Unsecured Loans. The following Consumer Loans do not qualify for the offer: CD Secured Loans, Stock Secured Loans, and Equipment/Tractor/Trailer Loans. Existing Five Star Bank Consumer Loans will not receive a retroactive discount.