ALBUQUERQUE, N.M.–CU SOL, a CUSO that says it specializes in helping credit unions to grow by bringing ideas to market, said it has launched Accelewage, an exclusive earned wage access (EWA) program that allows employees to get their wages early.
One credit union is now onboard.
According to CU SOL, Accelewage is a financial Wellness benefit, that gives employees of participating credit unions access to part of their earned wages before their next paycheck with ease and minimal cost. The program can also be extended to business members and their employees.”
“After a year of collaboration and hard work, CU Sol is proud to announce this partnership and benefit program to the credit union movement,” said CEO Jonathan Taylor. “We know that this will have a huge impact on our partnering credit unions financial Wellness goals for both their employees and their business members.
The first credit union to sign on is the $500-million Coast360 FCU in Guam.
“Speaking for myself and my employees, Accelewage is a smooth, easy and affordable process that allows us to provide a valuable solution and enhance our employee benefit program,” said CEO Gener Deliquina. “We are just as excited to bring this out to our community through our business members in an effort to strengthen member relationships and grow our business membership.”
Accelewage Benefits
“Accelewage allows credit unions to provide employees a valuable financial Wellness program,” said Samir Kasmi, co-CEO of Accelewage. “As a more practical alternative to payday lenders and high overdraft or late fees, Accelewage gives access to earned wages when employees need it most. This unique offering strengthens employee retention and allows credit unions to enhance their business member product offering for growth and brand value.”
According to its website, CU SOL, LLC is owned by four credit unions from Washington, D.C., to New Mexico to Guam.