Velocredit USA: Affordable Loans for Your Employees

Why Velocredit USA?

Reduce Loans from retirement plans and employer pay advances
Supplement Health Plans with financing for deductibles
Alleviate Financial Stress to increase productivity
Provide a Financial Safety Net during emergencies and hardships

Plans and Pricing

Basic

Free to employers with 500+ benefit eligible employees
Standard Velocredit USA loan eligibility and approvals

Premium

Small fee to employers with 300-500 benefit eligible employees
Small fee to any employer who wishes to expand eligibility and approval limits

Ready to Start? Get Set Up in a Few Easy Steps!

Why Employers Love Velocredit USA

After implementing Velocredit USA, employees have a better alternative for bridging the financial gap created by unexpected events. Our employees can visit the Velocredit USA platform at any time to access a fair and competitive loan that will not jeopardize their retirement income.

Barbara S. Vice President, Human Resources
Insurance Company

When we implemented Velocredit USA, our employees were finally given access to fair and responsible credit, and because most of our employees could not access competitive credit outside of the workplace, we felt that we made a real difference in their lives by offering Velocredit USA.

Pam D. CFO
Telecom Company

We decided to offer Velocredit USA to provide employees with an alternative to 401(k) loans so employees don't deplete their retirement income. Setup was a breeze and employees have referred to Velocredit USA as a "lifesaver" and a "valuable lifeline".

Bob M. Vice President, Human Resources
Retail Food Company

We have employees that are borrowing against their 401(k). At PLH, we use Velocredit USA as a better loan option. I believe we are helping our employees out because we implemented an alternative to borrowing from the 401(k) plan, giving them another avenue for getting that same amount of money without damaging their retirement accounts.

Sri G. Benefits Director
Infrastructure Company

Right from day one, our employees embraced Velocredit USA. Knowing they have a financial safety net allows them to focus on saving in other areas like their HSA, 401(k), or 529 plan. If an unexpected expense arises, they know they have Velocredit USA to see them through. I can’t think of a reason why someone wouldn’t want to have this available to their employees.

Carolyn C. Benefits Manager
Retail Apparel Company

I would recommend Velocredit USA to other employers because they are innovative, thoughtful, and have created a product that helps families face difficult financial times that occur over the course of life. They have great ethics that we can depend on, so it’s great to know we are working with a company that has our employees' best interests at heart.

Richard E. Supervisor
City Government

Velocredit USA has been a lifesaver for our employees, and the lower interest rates have helped them get out of bad debt. I would definitely recommend Velocredit USA to other employers because I think their employees would appreciate it as much as we do.

Nicole M. Benefits Manager
Health Care Services Company

How Does it Work?

Provide Information You provide anonymized basic census so we can underwrite your group and send you a proposal
Set up Payroll Deductions Set up eligibility and payroll deduction file feeds with your payroll and HRIS team
Get Started with Velocredit USA Announce the benefit to your employees

Frequently Asked Questions

Why should I offer Velocredit USA to my employees?

Velocredit USA is a financial wellness benefit that provides employees with a better way to tackle costly debt and unexpected expenses. By partnering with Velocredit USA, employers provide their employees across the credit and wage spectrum access to low cost credit and other financial wellness products such as financial coaching and education that can set them up for future financial success.

Hundreds of employers across the country offer Velocredit USA to provide their employees with a financial safety net and a smart alternative to 401(k) loans, credit cards and expensive pay advances.
How much does Velocredit USA cost for employers?

Velocredit USA’s standard program comes at NO cost to employers with 500+ benefit eligible employees. Employers who wish to offer special eligibility and approval limits can also do so at a small fee.

Contact our Sales team for pricing on additional Velocredit USA products such as Live Financial Coaching, and Financial Wellness Webinars features.
What happens if an employee with an outstanding loan leaves the employer?

If an employee leaves your company, our dedicated customer support team will contact the former employee directly to set up an alternative payment method outside of payroll deductions.
What can I expect from the implementation process?

Velocredit USA implementation can take as little as two weeks. Velocredit USA has existing integrations with most benefits administration platforms, as well as payroll systems and retirement plan administrators.

Once Velocredit USA is live, you will be assigned a dedicated account manager and an employee communications manager who will ensure ongoing administration and benefits communication is as seamless as possible.

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With Velocredit USA Your Employees Will Have Access to Socially Responsible, Low-Cost Loans