BeneMoney (formerly TrueConnect) has relaunched with a new owner, a new name and a renewed focus on its mission: making safe, affordable money accessible to working Americans through employee benefits.
Sunrise Banks, a values-based bank focused on creating positive change in the communities it serves, bought TrueConnect, seeing an opportunity to help employees take control of their finances and avoid falling into a cycle of debt.
“BeneMoney is a great fit for us. Emergencies happen, and people from all walks of life can find themselves in a pinch where they need quick cash. BeneMoney is a catalyst for change, helping employees establish good financial habits, build stability and peace of mind,” said David Reiling, President and CEO of Sunrise Banks.
Unlike traditional lenders, BeneMoney removes one of the largest barriers to borrowing: credit scores. All employees can take out a loan as long as their employer offers the benefit and they meet the minimum job tenure requirements. Funds are available within minutes, with the BeneMoney card giving them even quicker access. The loans are repaid through automatic payroll deductions over a one-year period. BeneMoney also offers free financial education and credit counseling to all employees.
“Too many hardworking employees are blocked from safe lending options or forced into high-cost debt. BeneMoney gives everyone a fair chance,” said Rebecca Smith, Director of Growth at BeneMoney.
To learn more about how you can support, educate and enable employees to break free from the cycle of debt and start building a life of stability and financial freedom, visit benemoney.com or connect with them on LinkedIn @BeneMoney.
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