Financial stability has become a top priority for employees across the United States. Unfortunately, many are caught in a cycle of debt, with little to no emergency savings to cushion them during tough times.
The majority of American workers live paycheck to paycheck, leaving them vulnerable to unexpected expenses and heightened financial stress. This is why building emergency savings is essential.
Recognizing the urgent need for better financial security, FinFit is excited to announce its strategic partnership with Sunny Day Fund® to bring Emergency Savings accounts to our FinFit SafetyNet platform.
FinFit’s SafetyNet platform is the only employee financial wellness solution that combines credit and savings in a proactive way to contribute to employee financial health and actively move workers from debt to saving. The FinFit SafetyNet platform is comprised of:
Emergency savings: Employees elect to have an amount of their choice deposited into their Sunny Day Fund emergency savings account each pay period. Payroll integration is used to set up the withholding.
Emergency credit: Employees can access funds at any time to cover unexpected expenses or make financial ends meet.
Debt consolidation loan: Employees can pay down debt at lower rates or avoid alternatives like 401(k) loans or high-cost payday loans. They can also choose to “plus-up” their loan repayment to add to their emergency savings account while they are repaying their loan, or “spill-over” the same repayment amount into savings after their loan is repaid in full.
The FinFit platform also includes financial literacy tools and access to coaching so employees can build a solid financial foundation.
Request a demo
Learn how you can offer FinFit’s SafetyNet to your employees by requesting a demo today:
Sunny Day Fund is not a bank. Financial services are provided through Portage Bank, Member FDIC.