All regular full-time and regular part-time employees who have successfully completed their probationary period are eligible to participate in the annual loan programs. Employees currently reimbursing the Village via payroll deductions for computer equipment are ineligible to receive a computer purchase loan payment until the initial loan is paid back in full. The aforementioned employees are, however, eligible to participate in the home physical fitness and wellness equipment purchase program, without the above limitation
The Minimum and Maximum reimbursement for the Computer Purchases Loan and for the Physical Fitness & Wellness Equipment Loan is $100 to $1,500 per employee. Eligible employees can participate in one or both loan programs, and select any time period of up to three(3)years to pay back each loan. Pay-back will be evenly divided into each payroll period as a deduction. If an employee terminates employment before the loan is paid back, payment of the remaining balance is required at that time to avoid collection action by the Village.