Caring for Our Team
Lake Shore Savings Bank’s benefits programs are designed to meet the varying needs of its employees. Since benefits are an important part of every employee’s life, our programs have been well planned and prepared to offer a benefit that is competitive, cost effective, and in line with our employees’ needs.
Health Benefits
After an introductory period, eligible employees may have the ability to enroll in certain benefits plans made available through Lake Shore Savings Bank.
Medical Coverage
We currently offer a competitive medical plan for our employees and their dependents.
Dental Coverage
Lake Shore Savings Bank currently offers single or family dental coverage to eligible employees.
Life Insurances
Lake Shore Savings Bank provides eligible employees with Basic Life Insurance as well as Travel / Accident with Accidental Death and Dismemberment Insurance.
Retirement Benefits
- 401k Savings Plan
All employees who meet certain criteria have the option to contribute to a 401k Savings Plan after 90 days of service. Lake Shore Savings Bank offers both pre-tax and Roth options.
After an eligible employee meets certain hour and length-of-service requirements, Lake Shore Savings Bank may also contribute funds to the employee’s 401k Plan.
- Employee Stock Ownership Program (ESOP)
After an employee meets certain hour and length-of-service requirements, Lake Shore Savings Bank may issue shares of Lake Shore Bancorp, Inc. (LSBK) stock in accordance with established guidelines to the employee.
In addition to the benefits mentioned above, Lake Shore Savings Bank employees may be eligible for Paid Time Off (PTO), paid Bank holidays, and a scholarship program for their child(ren).