As seen in the Tried & True Winter 2020 issue
As a family-owned company, Fratco strives to make employees, customers and other contacts feel like a part of the family. And while family members play many roles throughout a person’s life, Fratco feels one of the most important responsibilities comes in the form of supporting your brothers and sisters during times of need. This very idea was the basis of how Fratco’s Employee Support Fund came to be.
Managers at Fratco plants were noticing how often employees were asking for advances on paychecks or loans they could repay just to make ends meet when the going got tough. The Employee Support Fund serves as way to provide monetary support to Fratco employees in instances where they may experience unexpected financial burdens. These situations include auto, home, health and any other situation that requires an immediate need.
“It’s important because we want to change the lives of our employees,” said Kristy Hunt, HR/Purchasing/ Inventory Manager at the Francesville plant. “We just want to make sure when our employees come to work, they aren’t worried about the financial struggles they face at home, and that they can come to work with one less burden on their mind.”
LIFE HAPPENS. WE’RE HERE TO HELP.
While Fratco is quick to jump to the aid of those who need it, there is a set of criteria that an employee must meet in order to apply for the fund. Firstly, they must have been an employee at Fratco for at least a year. Secondly, they must submit an application to a committee at Fratco, which requires them to provide proof of their need and verify that they have exhausted other avenues that provide assistance. They can submit an application once per year for a maximum of $1,000. If the application is approved by the committee, the employee must agree to financial coaching in order to help them plan for other unexpected events that may occur in the future.
Unsurprisingly, the money within the Employee Support Fund is raised through collective efforts. Chris Overmyer has spent time campaigning to vendors and community members, who have been quick to provide monetary donations. Members of the community have also donated items that Fratco was able to auction off at their company holiday party.
While the venture only started this year, Fratco has already been able to help a number of Fratco employees and their families during difficult times. And that’s ultimately what the being a part of the Fratco family is all about.
Want to help? Ask us how: fratco.com/employee-support-fund
