In addition to our corporate giving and employee volunteerism, Colonial Life has a tradition of community support by providing employees with opportunities to invest financially in the community. Through our parent company, Unum, we are able to offer our employees a Matching Gifts program, Volunteer Service Grant program and Employee Participation program.
Unum sponsors an employee Matching Gifts Program that serves as an important means for us to directly support our employees' philanthropic efforts to nonprofit organizations and educational institutions. The Unum Matching Gifts Program will match eligible gifts from a minimum of $50 to an aggregate maximum gift of $7500 per employee, per calendar year. The Company provides matching gifts on a $2-for-$1 basis to accredited colleges, universities, graduate schools, secondary and elementary schools within the United States. Gifts to nonprofit organizations are matched $1 for $1.
A Volunteer Service Grant program is provided at Unum for full-time employees. The Company will match $1 for each hour an employee volunteers up to 500 hours ($500) per year. An employee may report volunteered hours accumulated from a single and/or multiple eligible organizations and combine those hours to meet the minimum 50-hour requirement.
Because Unum believes it's important to follow up employee efforts with corporate support, the company will provide a $50 match for employees' participation in walks and other "a-thon" events. This $50 contribution is paid directly to the qualified nonprofit organization in recognition of the employee's participation.
Investing in our employees has many benefits. Another way we help enrich the quality of life in our communities is by supporting the educational and related financial investments of our employees. Through our parent company, Unum, Colonial Life is able to offer Tuition Reimbursement and College Scholarships.
To support employees in their professional development, Unum provides financial assistance in the form of tuition reimbursement for educational courses. The company will provide 100 percent reimbursement for successfully completed courses, to a maximum of $2,000 per calendar year for full-time employees and $750 per calendar year for part-time employees.
Each year, Unum awards college scholarships to the children of eligible employees on the basis of academic performance, school and community involvement, and financial need. Scholarships range from $1,000 to $5,000 annually. Awards can be used for tuition and fees, room and board, books, lab fees and equipment, and are renewable for three years. The scholarship program is administered by Scholarship America, a national nonprofit educational support and student aid service organization. Scholarship America is solely responsible for the selection of scholarship recipients and the processing of awards.
By investing in our employees, we are able to give back to our communities. You can count on Colonial Life to restore peace of mind to our customers, our employees and our neighbors.
