Offering financial support through interest-free loans shows your employees that you care about their well-being. It fosters loyalty, reduces turnover, and promotes a more engaged and productive workforce.
Unexpected financial challenges can arise at any time. The Employee Financial Assistance Program is designed to help your employees navigate these difficulties with interest-free loans, allowing them to focus on their work and personal well-being.
The Employee Financial Assistance Program is an interest-free loan program available to employees. The loans offered are up to $1,200.00. The loan is repaid through payroll deductions spread out over ten months.
To sign your Southern Arizona business up for our Employee Financial Assistance program, contact us here or by calling 520-297-5360.
Employees often have emergency expenses to pay for health/dental care, school or child care, auto/ home repairs, or other unforeseen situations. Unlike high-interest loans, Tucson Jewish Loan is repaid with no interest and no costs.
Once an employer agrees to be a part of Tucson Jewish Free Loan Employee Financial Assistance program, at no cost to the employer, a Free Loan representative will work with the Human Resource department to implement a quick and easy loan process. The loan will be repaid from authorized payroll deductions, in accordance with the payment schedule set forth in the loan agreement, beginning on a scheduled payday. The loan may be paid back early without penalty.
Once an employer agrees to be a part of Tucson Jewish Free Loan Employee Financial Assistance program, at no cost to the employer, a Tucson Free Loan representative will work with the Human Resource department to implement a quick and easy loan process. The loan will be repaid from authorized payroll deductions, in accordance with the payment schedule set forth in the loan agreement, beginning on a scheduled payday. The loan may be paid back early without penalty.
The loan is through Tucson Jewish Free Loan. The employer makes this program available on a voluntary basis. The loan process is confidential.
If employment should terminate for any reason, the full balance of the loan will be taken out within accordance with the wage and hour law from the final paycheck. The employee is ultimately responsible for repaying the loan after they leave the job. Employees must provide debit card at time of signing final loan paperwork with Tucson Jewish Free Loan representative. The employee will sign a waiver giving Tucson Jewish Free Loan permission to withdraw automatic monthly payments from debit card if employement is terminated to pay off the loan balance.
Each organization is granted up to two loan defaults. After two defaults (even if borrower is no longer with the organization), the program will be cancelled. The organization may pay off the loan balance to reinstate the program for their employees.
To sign your Southern Arizona business up for our Employee Financial Assistance program, contact us or by calling 520-297-5360.