Location: Machias, Maine
Assets: $1.2 billion
Employees: 246
President and CEO: Lawrence Barker
Fitness/wellness program: Machias Savings hosts several different types of exercise classes that are free to employees, including yoga, aerobics and cardio kickboxing. Classes typically take place on site after work and occasionally during lunch hours.
Bonus/incentive program: All employees are awarded "phantom stock" based on the overall performance of the bank each year. When employees leave or retire, the stock is exchanged for cash. This bonus is meant to be a retirement and retention tool.
Communication tool/practice: "Family gatherings" take place throughout the year so executives can learn more about employee concerns. These events are structured like town hall meetings, allowing for open dialogue about the bank's culture.
