Author: FinFit

Providing Credit to your Employees is Good for You and Them

Written by FinFit on September 13, 2018. Posted in Blog.

Why? In my 10 years as a CPA and 20 years in the consumer financial industry, I have experienced countless scenarios of challenging situations. Here is the formula that has worked in almost every one of them: solve today’s challenges before focusing on tomorrow’s. Depending on the source, you will find general agreement in the marketplace that some 76-78% of our mid-market, fully-employed American workforce is living paycheck to paycheck. To add to that disturbing challenge, we all know that life...

FinFit and the CFSI Talk [Financial Wellness] Shop

Written by FinFit on September 8, 2018. Posted in Press Releases.

FinFit is proud to be a member of the CFSI’s Financial Health Leaders program, supporting technology, innovation and wellbeing in the financial wellness space. David Kilby, president of FinFit, sat down with the CFSI team to talk trends, affecting change, helping to solve financial challenges – and having fun while doing it! Check out the podcast interview. Interested in talking to David? Shoot him a note!

The Productivity Worksheet

Written by FinFit on August 14, 2018. Posted in Blog.

The ROI on employee financial wellness programs is three to one The return on investment for employee financial wellness programs, says the Consumer Financial Protection Bureau and others, has been estimated at 3:1. Every $1 invested in financial wellness benefits returns $3 in cost savings and productivity increases. It all makes sense. If three-quarters of working Americans don’t have $1,000 available for an emergency and they spend eight or more hours a day working, they are going to spend...

Stress – Going beyond the symptom to treat the cause

Written by FinFit on August 3, 2018. Posted in Blog.

Do you remember that moment when you had to ask that person to the high school prom, or even just for a date? You were 15 and your heart was thumping through your chest. You thought you were going to faint, but yet you had to muster up the courage in order to accomplish your heart’s desire. Now imagine feeling that type of stress every single day. This daily stress, however, is much more challenging. It’s not about a date, but your ability to survive and live a life of comfort and satisfaction. Stress...

Viverae and FinFit Help Employers Provide Student Loan Benefits That Employees Want

Written by FinFit on June 26, 2018. Posted in Press Releases.

Viverae®, a leader in workplace wellness, and FinFit®, a nationwide leader in financial wellness, are proud to announce FinFit’s new student loan assistance enhancement, through their partnership with StuLo. The program gives members of Viverae’s financial wellness program access to valuable student loan reduction resources like student loan specialists and the Student Loan Refinance Marketplace. According to the Federal Reserve, Americans owe approximately 1.5 trillion dollars...

The Emergence of the Culturally Conscious Employer

Written by FinFit on June 16, 2018. Posted in Blog.

The cultural shift in employer attitudes towards employees Used to be, in the ‘bad old days,’ that employers controlled their employees. Workers lived in company housing, shopped in the company store, and their children attended the company school – where they were trained to work for the company at a young age. The cycle created social and labor abuses. Many workers suffered, and many employers got rich. But eventually, times changed, and the culture shifted the opposite way. Employers took a...

Virginia Beach-based FinFit’s financial wellness is catching on

Written by FinFit on April 3, 2018. Posted in Blog.

David Kilby wants to leave his competitors in the dust. And he believes he’s already doing a good job of it. David Kilby, president of FinFit in Virginia Beach, says his company grew due to the high and growing demand for financial wellness. The president of Virginia Beach-based Finfit, an online platform that provides financial wellness resources and services to employees, started the company in 2008 and had 17 clients at the end of that first year. That was the extent of all the friends...

FinFit Announces $35 Million Senior Credit Facility with Ares Management

Written by FinFit on March 12, 2018. Posted in Press Releases.

FinFit Ops LLC (“FinFit” or the “Company”), a FinTech company that provides over 80,000 American companies with a unique financial wellness benefit platform, is pleased to announce the closing of a $35 million senior credit facility with Ares Management. FinFit has the ability to increase the senior credit facility to $70 million. This capital raise follows a $16 million investment from Bison Capital Partners in December 2016. Keefe, Bruyette & Woods, a Stifel Company acted as exclusive financial...

New Survey Shows 70% Increase in Employee Savings Thanks to FinFit Financial Wellness Benefit

Written by FinFit on February 22, 2018. Posted in Blog.

FinFit, a leader in providing voluntary financial fitness benefits, announced today the results of their annual Employee Financial Wellness survey. “From the companies surveyed, we saw an 85% increase in mid-to-large businesses actively offering financial wellness,”* said Jennifer Creech, SVP of Strategic Partnerships. “This shows how important financial wellness is to today’s workers, and our new survey clearly demonstrates its positive impact on both employees and the companies they work for.” Is...