Employee Benefit Advisor looks at how employee purchase programs can be a better alternative to costly credit options for employees. The article also describes the characteristics of robust financial wellness programs, such as personalized features and some level of accountability to address specific triggers.
Purchasing Power touts employee purchase programs as an antidote to costly credit options. They can be used toward the purchase of appliances, electronics or other big-ticket items through automatic paycheck deductions over a 12-month period. The approach involves no credit check or hidden fees and offers zero interest, as well as a free financial wellness platform to help with budgeting, credit reports and personal coaching.