How Workplace Banking Can Help Your Employees
Workplace Banking Helps Financially Fragile Employees
According to the FDIC, 8.4 million households in the U.S. do not have bank or financial institution accounts. Those that don’t have checking or savings accounts often rely on payday loans and check cashing businesses to pay their bills, services that commonly charge exorbitant fees. Employees without banking options tend to miss work more often, be less focused at their jobs because of financial pressures, and may even face stress-related health problems as a result.
Make it easier for your employees to access banking services by providing workplace banking. Accredited financial institutions can work with your business to help your employees open checking and savings accounts, pay bills, apply for loans or lines of credit, and access financial education resources.
Workplace banking is an employee benefit you can offer at no additional cost to your business. The Kelly Miller Insurance team can help you set up a workplace banking program that works for both you and your employees. Contact us at (916) 652-3100 or email firstname.lastname@example.org.