What is Purchasing Power introducing?
Purchasing Power is introducing an expanded set of “ancillary” financial wellness services that addresses the fundamental needs of employees who are often underserved by other financial benefits in today’s workplace.
What does the expanded set of ancillary financial wellness services include?
The suite of services focuses on a consumer’s financial journey, that could include:
- Connecting employees to the Financial Health Resources they need
- One-on-one support to build or rebuild employees’ credit
Why is Purchasing Power enhancing its focus on financial wellness?
While macro-economic trends may ebb and flow, the reality is that there consistently remains an overlooked sliver of Financial Health that needs to be recognized: the ability to purchase the things you need, when you need them. This represents a human challenge and can affect anyone, at any point, because life doesn’t fit neatly into a salary band.
But it’s not simply about being able to purchase goods and services. It’s also about ensuring you have access to the right resources when life happens, and also ensuring that you have the right long-term path toward financial empowerment.
Who is Purchasing Power partnering with for these services?
Purchasing Power is partnering with SpringFour to ensure that employees have access to financial tools – wherever they are on their financial journey.
- SpringFour: Founded in 2005, SpringFour is a national organization based in Chicago with a mission to connect consumers to the financial health resources they need. SpringFour’s approach addresses the root cause of financial challenges to get people back on track with their payments.
What is required of the employer to enable employee access to these services?
Nothing is required of the employer. Employers are not required to go through any implementation steps to enable employee access to these services. Services will be integrated into PPC platform without employer effort.
What services can employees who are registered with Purchasing Power use with SpringFour?
Employees who are registered for Purchasing Power, and click on SpringFour on the My Account page may choose from a suite of local non-profit, unbiased and vetted resources. These financial tools are offered to provide assistance to employees wherever they are on their financial journey.