Milestone Year Includes Giving Back to Atlanta Organizations in Need
Purchasing Power, LLC, an Atlanta-based voluntary benefit company, is celebrating its 20th anniversary this month, spotlighting two decades of providing workplaces with the leading employee purchase program. Since 2001, Purchasing Power has given hardworking employees immediate access to thousands of products and services they need and the ability to pay for them over time through payroll deduction via its proprietary e-commerce platform, helping an increasingly cash-strapped workforce achieve financial flexibility.
“The events of the past year in particular highlight the value we bring to our clients and customers, many of whom rely on our employee purchase program to be their financial lifeline,” said Trey Loughran, Purchasing Power CEO. “Our anniversary theme this year is ‘Honoring the Past. Empowering the Future.’ The far-reaching effects of the COVID-19 pandemic means financial recovery is going to take time at both the corporate and household level. Employees are struggling to meet demands at home and work, but we can help by giving their employers a way to meet these needs.”
As part of a year-long celebration of this anniversary milestone, Purchasing Power will continue its long history of giving back in the community by making monetary donations to 20 Atlanta-area non-profit organizations selected by employees. Local organizations such as Junior Achievement of Georgia, the Atlanta Community Food Bank, the Marine Toys for Tots and PAWS Atlanta are just some of the non-profit charities to receive special funding this year from Purchasing Power.
“Our employees have regularly donated more than 3,000 volunteer hours each year that have supported a wide variety of community-targeted projects,” said Racquel Roberts, Chief People Officer at Purchasing Power. “From renovating homes with Habitat for Humanity to serving up meals at Open Hand Atlanta, our team has shared their skills and manpower to generously assist others throughout our 20-year history. This is consistently among the company practices our employees enjoy most. With social distancing restrictions limiting our opportunities for these projects the last 12 months, we hope a special donation might help bridge the needs of these organizations until we’re able to volunteer again in person.”
On a national scale, Purchasing Power also will be hosting promotional giveaways and discounts throughout the year for customers. Earmarked items will include popular products from a range of merchandise categories, including top brands in electronics, laptop computers, home appliances, gaming systems, fashion and jewelry, and more.
Purchasing Power serves employees as a voluntary benefit offered through large businesses including Fortune 1000 companies, trade associations, unions and government agencies. Using the employee purchase program, workers have an opportunity to purchase the latest brand-name consumer products and household necessities, including major appliances, electronics, furniture and automobile tires, online education services, and vacation packages through payroll deduction, when they are unable or prefer not to use cash or credit. They make manageable, fixed payments over 6 or 12 months with no ballooning interest, credit checks, hidden fees, or late fees associated with high-interest credit cards and other sub-prime financing options.
“Over the years, Purchasing Power has grown along with the voluntary benefit industry as more companies have realized the financial stress their employees are under and the need for programs that will help them,” added Loughran. “69% of U.S. workers working full time are living paycheck to paycheck1, struggling to manage their household budgets and purchase the things they need. Often, they’re forced to choose between a high-interest credit card or loan – or simply go without. We provide a better option.”
“After working so diligently alongside our clients and customers to meet and overcome the challenges presented by the ongoing pandemic, we are excited and grateful to focus our energies on both giving back and looking forward to an increasingly brighter future,” Loughran concluded.
1, 2020 “Getting Paid In America” survey, conducted by the American Payroll Association (APA), Sept. 21, 2020