Piedmont Federal Savings Bank: Supporting Financial Wellness in the Workplace

As the oldest financial institution founded in Winston-Salem still in existence today, Piedmont Federal Savings Bank continues to keep the mission of its founders intact. Back in 1903, those forward-thinking business leaders made a pledge to serve their local market with unsurpassed customer service, and they would be proud of how the Bank is fulfilling that commitment in 2022.

As part of the expansion of that customer service, Eric Hermanson, Director of Business Partner Relations, has introduced Piedmont Plus, a new financial wellness employee benefit program, built around supporting the employees of local businesses and non-profit groups. The program centers on financial health, as well as savings and perks on banking services, which benefit individuals, companies, and the overall community.

“Financial stress in the workplace is on the rise, leading to increased absenteeism and decreased performance, to name only a few of its effects,” says Eric. “This program is a financial wellness employee benefit at no cost to the company or the employees, and it is appropriate for any local business in the Triad. Those businesses and organizations aren’t required to bank with Piedmont Federal, though many of them do.”

Financial Wellness

“We offer online, self-directed financial wellness in the form of short videos on pertinent topics such as budgeting, planning for an emergency, starting a new job, moving your family, and many more,” explains Eric. “Piedmont Federal also offers onsite, in-person financial wellness seminars designed to educate company employees about choices that crucially impact their day-to-day financial habits. Topics include building or improving credit and credit scores, preventing financial scams or identity theft, aging in place, and others. Piedmont Federal can also customize financial seminars, based on employee input and requests. One-on-one financial counseling is also available.

Banking Services and Perks

Piedmont Federal offers free checking with no minimum balance requirement, no ATM fees anywhere (domestic or international), unlimited branch access, and the ease of electronic banking. Accounts can be opened online and onsite, and other benefits include a credit towards closing costs when an employee obtains a mortgage with Piedmont Federal. We offer consumer loan and line of credit rate discounts, a no-fee home equity line of credit, and a rate discount on an overdraft line of credit. Also, since we do not sell our mortgages and keep them in-house, we are able to provide loans for acreage, log homes, non-traditional homes, second homes and family member loans with primary residence rates, and a no PMI first-time homebuyer program.

Workplace banking allows Piedmont Federal to bring customer service and convenience right to your company.

Piedmont Federal Savings Bank has 10 branch locations in the Triad and the Western Piedmont. Learn more about the Piedmont Plus program by contacting Eric at 336-770-1127, via email at ehermanson@piedmontfederal.com, or online at piedmontfederal.bank.


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