Like a family, Earl Stewart Toyota is ready to help each other when the need arises.
The purpose of this fund is to assist employees who experience serious financial difficulty. To qualify, the employee must be in good standing with at least one year of service with the company. Distributions are zero interest loans to be paid back only when the recipient’s financial situation improves.
The Fund Basics:
- Employee donations are voluntary at a rate selected by the employee.
- Earl Stewart Toyota has agreed to match, dollar for dollar, all employee donations until the Fund reaches $25,000 which is a company commitment of $12,500.
- Contributed funds become the property of the fund.
- Funds are to be held in an interest bearing Escrow account, separate from the company’s accounts
- Donations will continue until the account balance reaches $25,000 at which time payroll deductions will cease. Voluntary payroll donations will be requested should the account fall below $15,000.
- Request for funds may be submitted to the Review Committee by any employee for any employee.
- Distribution to be approved by the Review Committee consisting of six (6) elected employees, one employee from each of the following departments: sales, parts, service, accounting and body shop plus one elected manager. You will be able to vote for the representative from your department on the review committee. Elections will be held once a year.
- Exceptions to these rules may be made at the Review Committee’s discretion.
- Distribution will be made by check in the employee’s name