1900 East Ninth Street
Cleveland, Ohio 44114
CEO: Peter Raskind
Stock Symbol: NCC
National City is the eighth largest bank
holding company based on assets. It operates an extensive banking
network of 1,100+ branches in Ohio, Illinois, Indiana, Kentucky,
Michigan, Missouri and Pennsylvania, and also serves customers
in selected markets nationally. Its core businesses include commercial
and retail banking, mortgage financing and servicing, consumer
finance and asset management.
Total assets reported at National City
were $140.1 billion. Total deposits were $87.2 billion.
In 2006, the company had revenues of $12.9
billion and net income of $2.29 billion.
National City said it would exit its wholesale
mortgage division in January and would cut 900 jobs. The company
said it has reduced jobs by 3,400 going into 2008.
The company was founded in 1845.
Several medical and dental plan options are available for employees
and their dependents that offer a range of coverage. A portion
of the coverage is subsidized by National City.
Reimbursement account plans
Employees may contribute to the Plans on a pre-tax basis and
receive reimbursement for medical, dental, and dependent care
Voluntary eye care coverage
The Eye Care Plan covers periodic
eye exams and discounts on prescription eyewear.
Group Life and Accidental Death &
Dismemberment (AD&D) insurance Newly
hired full-time employees are covered at two times their eligible
pay at no cost, to a maximum of $3 million for life insurance
and $250,000 for AD&D coverage. Newly hired regular part-time
employees are covered at $10,000 (no cost) for both life insurance
and AD&D coverage. Employees may also elect to purchase additional
life and AD&D insurance coverage.
Voluntary personal accident insurance
Employees can purchase this coverage for themselves and their
Dependent life insurance
Employees can purchase this coverage
for their dependents.
Short-term disability Full-time employees are eligible for salary continuation
for short-term disabilities following 90 days of service. Coverage
increases as service time increases.
After one year of employment, full-time employees are covered
at 60 percent of eligible pay at no cost. Other options are available
during the annual Flex enrollment period.
National City provides a 401(k) plan which allows pre-tax contributions
up to 20 percent of combined cash compensation (generally, base
pay and up to $75,000 of certain additional pay), subject to
IRS limits. Eligible employees also receive matching employer
contributions of $1.15 for every $1.00 contributed up to 6 percent
of pay. Eligible employees can contribute to National City's
plan, on an unmatched basis, effective the first of the month
after 30 days of employment and attainment of age 21. National
City will begin making matching contributions on the first of
the month following one year of service. Employees may also be
eligible to rollover funds from a former employer's qualified
To help employees enjoy the years that follow a rewarding career,
National City offers a Non-Contributory Retirement Plan. Eligible
employees participate in the plan after completing 1000 hours
of service in the 12-month period that starts on date of hire
(employees must be age 21). Employees are vested after five years
of service. This benefit is provided at no cost to employees.
Time away from work
In most locations, National City offers 10 paid holidays in addition
to paid vacation days. Employees hired in the first quarter of
the year are eligible for one week of vacation with pay after
six months of service and two weeks of vacation the following
If you are hired after the first quarter
of the year, you will be eligible for two weeks of vacation in
the next calendar year after nine months of service.
Full-time and part-time employees may receive assistance to help
cover the expense of continuing education (including some graduate
Employee stock purchase plan
Employees have an opportunity to purchase shares of National
City common stock through the Employee Stock Purchase Plan.
Employee discounts on select products
and financial services National
City also offers employees service charge-free checking accounts,
including personalized checks, automatic payroll deposit, reduced
finance charges/no annual fee on National City MasterCard or
Visa accounts, free traveler's checks and reduced interest rates
on installment loans and fees on installment and mortgage loans.
Updated January 3, 2008