Everything You Need To Know About Finfit

With summer vacation winding down, parents are gearing up to get their children ready to take on a new school year. However, the expenses associated with books, supplies, devices, and tuition can quickly accumulate and become overwhelming.  Last year, families were projected to spend an average of $864 on back-to-school necessities for elementary to high school students—a staggering 24% increase since 2019. Rising costs are creeping into every aspect of your employees’ lives, both personally and professionally. That’s why Resourcing Edge offers FinFit, a holistic financial wellness platform designed to alleviate your employees’ financial burdens and get them on the path to financial happiness.

FinFit partners with employers to provide employees with access to emergency credit solutions ¹ to help them get the funds they need quickly, avoiding costly alternatives like payday loans. Their comprehensive platform also includes a range of valuable tools and resources, such as spending and saving accounts², free financial coaching, and educational resources to empower employees to take control of their finances.

FinFit aims to develop partnerships that lower turnover, increase productivity, and enhance employee engagement for their partners. FinFit partners have reported*:

• 25-58% increase in employee retention
• 88% increase in employee productivity
• 55% reduction in 401k borrowing

FinFit is working to bridge the opportunity gap with equal access to services, products, and solutions to grant your workforce financial stability today, and financial security tomorrow.

FinFit Products:

Flexible Credit Solutions for Employees

Nearly half of Americans don’t have $400 to manage an emergency expense. You can ensure employees have access to flexible funding options at no cost or administration for their employers.

• Loans from $500 – $10,000
• Employees receive a decision in as little as seconds³
• Options to receive funds instantly⁴

 

Banking for All

Approximately 63 million Americans are either unbanked or underbanked. Employees with little to no access to banking services are susceptible to financial instability.

FinFit Spending & Savings Accounts include:

• Access to early direct deposit (up to two days before payday⁵)
• Free Visa® debit card and virtual card
• Virtual card can be added to Google Pay, Apple Pay and the Samsung Pay wallets
• NO Monthly Maintenance Fees
• NO Minimum Balance Requirements
• Cash Back Rewards⁶
• COMPLETELY Free to Open

 

Personalized Financial Coaching

Whether employees need one-on-one budget coaching, help with specific debt concerns, major life events, or guidance with mortgage, vehicle, or student loan decisions, with FinFit, they will have access to the professional financial coaching that may have previously been out of reach, free of charge.

Financial Dashboard and Budgeting Tools

A powerful tool to help employees manage their money and chart a course toward forever financial freedom.

• Securely link financial accounts
• Track spending
• Identify trends
• Set goals and budgets
• Identify net worth Receive alerts

 

Personalized Financial Assessment

Personalized assessment and planning tools recognize the unique spending, saving, and borrowing habits of each user.

• A personalized financial wellness score
• Access to an easy-to-understand visual budget
• Benchmarks to see where they stack up in comparison to their peers
• An actionable financial plan with personalized tools and resources
• Access to a highly interactive platform offering relevant feedback in real-time

 

Premier Financial Education

This premier financial education platform makes it simple to identify the skills necessary to achieve personal financial wellness, by covering topics including:

• Managing Credit/Debt
• Credit Scores
• Buying a Home
• Budgeting & Saving
• Investing
• College and Student Loans
• Planning for Life Events
• Retirement Readiness

Contact Resourcing Edge today to learn how to easily partner with FinFit to make a difference in the financial well-being of your employee.

 

 

*2017 Financial Survey Commissioned by FinFit

¹Loans subject to credit approval. Rates, terms and conditions are subject to change at any time, without notice.

FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC

Residents of Colorado, Connecticut, Iowa, Vermont, Nevada, West Virginia and Massachusetts are not eligible for loans. This does not constitute an offer or solicitation for loan products to residents of those states.

²FinFit is a financial technology company and is not a bank. Banking services provided by Choice Financial Group; Member FDIC

 

³Actual time it takes for loan decision dependent upon loan verification set up with your employer.

⁴Funding time dependent upon funding method selected. Expedited funding may incur additional fees.

⁵Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date. However, this availability is not guaranteed. It’s that simple—no need to sign up. If you qualify, you will automatically receive your pay early.

⁶Earn 0.50% unlimited cash back on purchases. Rewards will be credited on the 15th of each month and will cover the previous calendar month.

Rewards Program earnings are subject to Rewards Program terms and conditions.

The FinFit Rewards Program provides awards which include a cash reward provided through an Amazon Gift Card or by direct deposit to a FinFit Savings and Spending Account.