The Bank of Elk River Benefits

At The Bank of Elk River, we value and support our people as a competitive advantage. We work to attract, develop, engage, and retain team members who reflect the diversity of the customers and community we serve. The Bank of Elk River provides all eligible full-time and part-time team members with a comprehensive set of benefits designed to protect their physical and financial health and to help them make the most of their financial future.

  • Health Insurance
  • Dental Insurance
  • Employee Life Insurance
  • Spouse/Dependent Life Insurance
  • Long/Short Term Disability
  • Long Term Care
  • Paid Time Off
  • Holiday Pay
  • Retirement Savings Options
  • Wellness Programs

Health Insurance

Our medical plan offers preventive care services covered at 100%, a monthly HSA contribution from the bank and a large network of doctors and hospitals to help you and your family improve or maintain your health.

Dental Insurance

We provide employee only dental insurance with the nation’s leading dental insurance company at no cost the employee.

Employee Life Insurance/Dependent Life

Basic Employee Life as well as Spouse and Dependent life insurance are provided to all full-time employees.

Long/Short Term Disability

If a qualifying medical condition should occur, the bank’s Short Term Disability may provide financial protection. Long Term Disability insurance is a benefit that provides partial income continuation in the event you become disabled while employed at The Bank of Elk River.Both of these are provided for regular full-time employees.

Long Term Care

Long Term Care is an insurance that provides a variety of services which can help meet both the medical and non-medical needs of individuals with a chronic illness or disability. This plan is different from traditional health insurance coverage because it may include help with activities of daily living, home health care, adult day care and/or care in an assisted living facility or nursing home. The bank covers the cost of the basic plan for regular full-time employees.

Paid Time Off

The Bank of Elk River provides all eligible full-time and part-time employees with time away from work during the course of the year that allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, and spend time with your family — whatever your personal needs may be.

Holiday Pay

Eligible employees receive the following paid holidays: New Year’s Day, Martin Luther King Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veteran’s Day, Thanksgiving Day, Christmas Eve and Christmas Day.If you work a Holiday, you will be given a floating holiday to use in its place.

Retirement Savings Options

Employee Stock Ownership Program (ESOP)

The Bank of Elk River created an Employee Stock Ownership Plan (ESOP) to provide employees with income for retirement. The purpose of the plan is to enable employees to participate in the growth and prosperity of The Bank of Elk River by making its employees stockholders. As a stockholder, your efforts, and the effort of your co-workers, contribute to the profitability and growth of the bank and thereby increase the value of the company stock.


All eligible employees have the opportunity to participate in The Bank of Elk River’s sponsored 401(k) plan. The purpose of the 401(k) plan is to give the employee the opportunity to save for retirement by making pre-tax and/or Roth contributions into a retirement account.


We offer tools and resources to our employees to help them live a healthier lifestyle.With a strong Wellness Committee, a Gym Reimbursement program and monthly “Superfoods” we are committed to the health and wellbeing of our employees.