LOWELL, Mass. – Enterprise Bank and the University of Massachusetts Lowell have announced a partnership to offer a new tuition assistance program to eligible bank team members.
Under the first-of-its-kind program, team members enrolled in courses at UMass Lowell can delay tuition billing until the course is completed and the grade is released. Team members attaining qualifying grades will have their tuition paid directly by the bank to the university.
The new program became part of Enterprise Bank’s Total Rewards Program beginning January 2020. Jamie Gabriel, chief human resources officer, EVP, said, “By fostering educational growth, the tuition assistance partnership with UMass Lowell positions our new and existing team members for advanced career development opportunities. We look forward to the continued success and value that this partnership will bring to our team members’ career opportunities here at Enterprise Bank.”
Steven F. Tello, Ed. D., vice provost for graduate, online and professional studies at UMass Lowell, said, “The university is quite pleased to expand our longstanding relationship with Enterprise Bank by implementing an educational partnership through their Total Rewards employee benefit program. This partnership will provide tuition remission and deferment benefits for Enterprise Bank employees enrolled in one of UMass Lowell’s highly respected undergraduate or graduate business programs. We value corporate education partnerships like these that enable us to strengthen the skills and knowledge of our local workforce, benefiting the individual employees, their employer and the greater community.”
Team members who are enrolled in courses at UMass Lowell that are directly related to their present position, or that will enhance their potential for advancement to a position within the bank can participate in the program. Newly hired team members are eligible for the program as soon as they begin with the bank.
Dean Frechette, systems engineer with Enterprise Bank and participant in the program said, “One of my goals has always been to get my master’s degree in information technology and I am very excited that the bank’s Tuition Reimbursement Program allows me to work toward that goal. Additionally, the new partnership with UMass Lowell makes it even easier to get started with the program and attend a high quality university.”
Other educational benefits offered within the bank’s Total Rewards Program include traditional reimbursement of tuition for degrees, certificate programs and professional certifications, and assistance with student loan payments.
Enterprise Bank has also entered into a similar tuition assistance partnership program with Middlesex Community College.
About Enterprise Bank
Founded in 1988 in Lowell, Massachusetts, Enterprise Bank currently has 24 full-service locations in Massachusetts and New Hampshire, and approximately 550 employees. The 25th branch is slated to open in Lexington in early March 2020, and the 26th branch in North Andover is targeted for summer of 2020. As of December 31, 2019, the bank reported total assets of $3.24 billion and investment assets under management of $916.6 million. For more information about Enterprise Bank including a full list of branch locations, please visit www.enterprisebanking.com.
About UMass Lowell
UMass Lowell is a national research university located on a high-energy campus in the heart of a global community. The university offers its more than 18,000 students bachelor’s, master’s and doctoral degrees in business, education, engineering, fine arts, health, humanities, sciences and social sciences. UMass Lowell delivers high-quality educational programs, vigorous hands-on learning and personal attention from leading faculty and staff, all of which prepare graduates to be leaders in their communities and around the globe. www.uml.edu