California State Council of SEIU partners with SecureSave to provide ESA benefit to employees.
SEATTLE – May 2, 2022 – SecureSave, the benefits solution for emergency savings, announced California State Council of SEIU as their newest customer.
The largest union in the state, California SEIU has more than 700,000 healthcare workers, social workers, janitors, in-home caregivers, security officers, university and school employees, court workers, and country and state employees statewide with the mission of setting “statewide priorities and exercising power to increase economic fairness for working people, ensure high-quality services and create a well-funded, equitable, just and prosperous California.” With many members living paycheck to paycheck and often facing short-term financial emergencies, the union was looking for a better way to support employees’ financial well-being.
California State Council’s Director of Finance Steve Robinson-Burmester remarked, “SecureSave is a low-cost, really novel benefit that we were excited to offer our employees, especially during The Great Resignation…I noticed that a lot of people were borrowing money against their 401K, and SecureSave offered an excellent auxiliary plan.”
California State Council of SEIU began offering SecureSave at the beginning of the year and has already seen a strong adoption rate of 68% after presenting the benefit to employees as a savings account that earns them 10%, based on the company’s 10% contribution to employee emergency savings accounts. “When employees open the app, it scrolls the numbers up from zero to their total funds saved like on a jackpot machine. It’s the best psychological tool to encourage savings I’ve ever seen,” said Robinson-Burmester.
SecureSave co-founder Suze Orman remarked, “SEIU’s decision to fully embrace and offer SecureSave‘s automated employer-matched emergency savings account demonstrates their ability to truly recognize and meet the financial needs and wants of their employees.”
Looking to the future, Robinson-Burmester hopes to encourage the adoption of SecureSave by all member employers nationwide. “SEIU has many lower-wage workers who may not even have a retirement or savings to fall back on. This benefit would serve them extremely well.”
Headquartered in Kirkland, Washington, SecureSave is the leading emergency savings solution that enables organizations to offer employees a simple way to build a financial cushion. Suze Orman, Devin Miller, and Bassam Saliba founded SecureSave with the goal of making emergency savings easier and more accessible to help solve the growing savings crisis in the US. SecureSave’s program makes an immediate impact on employee lives by increasing financial wellness, employee well-being, and productivity through a low-cost, low-complexity benefit that is easy for employers to deploy and manage. To learn more about the company, visit the website at https://www.securesave.com.