BMG Money, is a leading financial wellness benefit company and has joined HAPevolve, a subsidiary of The Hospital and Healthsystem Association of Pennsylvania (HAP).  This newest Industry Partner provides a voluntary employee benefit that is proven to help employers reduce turnover and help employees build better credit through affordable loans and financial wellness education.  

Since 2010, BMG Money has worked with nearly 100 hospitals, education, and governmental clients, and has serviced tens of thousands of loans, issuing $4 Billion to employees who otherwise would have fallen victim to high-interest predatory loans. BMG Money works with hospital leadership to tailor the program to be as effective as possible, and comes at zero cost or risk to the employer. BMG offers:

 

LoansAtWork

Rather than conditioning loan approvals based on traditional credit scores and credit history, BMG Money underwrites loans based upon employment status and income. Thus, BMG Money enables access to reasonably priced credit to employees that ordinarily are excluded from the financial mainstream and too often turn to high-interest predatory lenders charging 10 to 12 times the cost of the LoansAtWork program.  By utilizing payroll deduction on loan repayments, BMG Money can offer these significant savings to employees and helps build their credit by reporting to the major credit agencies, resulting in a 64% increase in credit scores for their borrowers.

 

Financial Wellness Program

BMG Money offers complimentary financial literacy programs that equip employees with valuable financial management strategies. The BMG Money team is certified by the Consumer Financial Protection Bureau to conduct virtual or onsite financial literacy sessions based on the “Your Money Your Goals” curriculum. Additionally, free 1-on-1 debt counseling and credit coaching sessions are available to all employees.

• Voluntary employee benefit
• Emergency loans for employees
  Increase employee retention
• No risk or cost to employer
• Free financial wellness tools
• No fees or prepayment penalty
• Instant approvals & funding
• Apply 24/7/365

 

HAPevolve identifies and creates valuable partnerships with a variety of businesses serving the health care community. By negotiating with its industry and endorsed partners on behalf of the Pennsylvania hospital and health care community at large, HAPevolve can offer members special benefits and discounts on innovative solutions that can save them both time and money.

To explore how BMG Money can benefit your organization, contact Lori Mulholland, HAPevolve’s director, business development, or Amar Sharma, Senior Director, Healthcare Partnerships, BMG Money.