FinFit has added a savings component to its financial wellness program, and employers can add a match to any employee savings. Employees can decide what portion of their paycheck they want to be automatically contributed to the savings account, and employers can match up to 100% of that amount.
FinFit says motivating employees to establish savings furthers the company’s mission not only to help employees reach and maintain financial stability—but to also establish positive behaviors for their financial future.
“Enabling employers to participate in the creation of emergency savings for employees takes employer support to a new level,” says David Kilby, chief executive officer and president of FinFit. “Employees need motivation and guidance from their employers to establish healthy savings habits, similar to a 401(k) match. Knowing that an insurance blanket exists for the inevitable financial hardship provides peace of mind, reduced stress and a greater ability to focus on their core responsibilities, both within the work environment and at home.”
This mobile-first banking solution will include savings and checking accounts, round-up opportunities, automated savings programs and recommendations for smart savings decisions from a Federal Deposit Insurance Corporation (FDIC) member bank.