Jim Bailey, President of Filtec Precise read in the Wall Street Journal about a new type of benefit gaining momentum: employer-sponsored employee savings accounts. Emergency savings accounts (ESA) were becoming vital to employees as they navigate unexpected emergencies. Filtec already offered a great benefits package. However, Jim was attracted to an ESA to show his appreciation to his loyal staff in tough times. He hoped to boost morale and productivity and let his employees know that the company was invested in their long-term well-being. His goal was for every employee to have $2,500 saved within six months.
Filtec Precise decided to work with SecureSave because the ESA program was simple to set up and had the ability to keep their employees engaged in creating a savings habit. SecureSave made the enrollment process quite simple using email or text to a smartphone. With SecureSave, they could set savings bonus once their employees reach a certain savings milestone. Through the SecureSave website and mobile application, employees can easily create savings goals and track their own progress. Filtec Precise was excited to use the application to help their employees build towards long-term financial security and company loyalty.
“SecureSave is an outstanding program and a valuable employee benefit. The program was easy to set up and administer. I’m happy to report we have over 75% participation.”
Jim Bailey, President of Filtec Manufacturing