PITTSFIELD — Berkshire Hills Bancorp Inc., the parent of Berkshire Bank, announced additional investments in its employees and communities following the recent passage of federal tax reform legislation. These investments include:
• Raising Berkshire’s minimum wage to $15 per hour;
• Providing a one-time bonus of $1,000 to more than 1,000 employees. This grant benefits all full-time employees below a certain compensation threshold, covering more than 70% of the bank’s workforce, and augments the $500 holiday bonus these colleagues received in the fourth quarter;
• Enhancing Berkshire’s investment in employee development and training programs to benefit employees and bolster the bank’s current offering at AMEBU – American’s Most Exciting Bank University; and
• Contributing $2 million to the Berkshire Bank Foundation, which supports charitable organizations, scholarships, and volunteerism across Berkshire’s local communities. This will bolster the foundation’s endowment and allow for increased local giving. Last year, it provided over $2 million to our local communities, complementing the employee volunteer program, which helps employees contribute more than 40,000 hours of volunteer service each year.
“Berkshire’s unique culture is built on the recognition that our employees are our most important asset,” CEO Mike Daly said. “As an organization, we believe that taking care of our employees leads to more satisfied customers, healthier communities, and higher returns to shareholders. We’re pleased to have the opportunity to further reward the team for their hard work and dedication to our customers, while also investing in their long-term professional development and furthering our overall commitment to the communities we serve.”