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How UMB supports new parents: Paid parental leave, adoption assistance and more

By Published On: November 4, 20222.8 min read

UMB Financial Corporation  | 

November 4, 2022  | 

Reading Time: 4 minutes

How UMB supports new parents: Paid parental leave, adoption assistance and more

UMB offers associates a variety of benefits, including paid parental leave, to support birth and adoptive parents, as well as legal guardians, in welcoming a new child and creating a healthy work-life balance.

Becoming a parent is an exciting and fulfilling experience for many, but it often comes with stress from the significant change to daily life and the need to balance the responsibilities of home and career. Recognizing the impact this life event has on our associates, UMB has committed to supporting new parents during this time in a variety of ways.

Paid parental leave and other leaves of absence

While paid leave for new mothers is a familiar benefit, paid parental leave for both new mothers and fathers is not as common. Recognizing both mothers and fathers is a critical way employers can support a healthy workplace. It demonstrates the belief that the time spent with a new addition is invaluable for both parents.

Parental leave at UMB may be taken at any time during the six months after a child is born or adopted. Parental leave provides up to four weeks of pay at 90% of base pay to eligible associates. We align associate eligibility with the Family and Medical Leave Act (FMLA), so whoever is eligible to qualify for FMLA can also receive the parental bonding time.

In addition to paid leave, associates can also qualify for a combination of FMLA, short-term disability and non-FMLA medical leave of absence. When combined with the parental bonding time, short-term disability benefits help extend paid leave coverage for several more weeks, depending on the type of birth.

Adoption assistance

In addition to paid parental leave, UMB offers special assistance to associates growing their family through adoption. Those benefits include financial assistance to help offset eligible adoption expenses, referral services, and resources – including reimbursement of up to $6,000 per child.

Emotional and care support

Another benefit UMB offers is BenefitBump, a personalized digital navigation program, powered through an app, that provides hands-on benefit guidance and in-the-moment emotional support to associates during their pregnancy and adoption journeys.

UMB also partners with Care.com to help associates find caregivers including babysitters, daycare centers and more.

Financial wellness

Recognizing the importance of financial wellness, UMB offers a dependent care flexible spending account (FSA) that allows associates to pay for eligible out-of-pocket dependent care expenses with pre-tax dollars. Qualified expenses include daycare, after-school care, summer day camps and more. In 2022, married couples were able to contribute up to $5,000 per household.

Growing your family is a special and exciting time – and a time where support, care and flexibility are needed more than ever. At UMB, we want our associates to know that we are here for them in every stage of life.

To learn more about UMB and how we support our associates, read our Corporate Citizenship and ESG Report, and follow us on Facebook‡ and LinkedIn‡.


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By |2022-11-08T20:20:45-06:00November 4, 2022|Categories: Inside UMB|Tags: , , , , |

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About the Author:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries.
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