Accounts for Emergency Funds

Accounts for emergency funds as workplace benefit programs help employees build easily accessible cash reserves for unexpected expenses like medical bills, job loss, or urgent home repairs, often featuring automatic payroll deductions and employer matching contributions to encourage saving three to six months' worth of living expenses.
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Candidly

Candidly

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Company Overview

Founded

2016

Employees

150

Funding Summary

None

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About Candidly

Candidly is an AI-driven student debt and savings optimization platform that addresses the full lifecycle of education expenses and empowers people to make simultaneous progress on paying down student debt and building wealth.

Candidly partners with leading employers, financial services companies serving the workplace like 401(k) and 403(b) recordkeepers, financial institutions, retirement plan advisors and more, to embed its experience anywhere a user works, banks, or experiences financial services. The platform supports flexible integration options including outlink, SSO, widget integration, and APIs that meet partners where they really are in resourcing, technical debt, and product resourcing/roadmap... Show More
Brightside

Brightside

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-

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-

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Product Features

✓

Emergency savings accounts models

 ✓

Intergrated solution
✓

Application access

 ✓

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Product Description

Financial Assistants actively encourage emergency savings, often tying it to moments of acute need (e.g., after resolving a financial emergency) to reinforce the importance of saving and help set up contributions.
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SoFi

SoFi

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Min. Group Size

100 eligible

Lives Serviced

200,000

Average Cost

Average Cost is Locked

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Product Features

✓

Emergency savings accounts models

 ✓

Application access
✓

Security protocol

 ✓

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Product Description

Unexpected expenses such as car repairs, medical bills, or household repairs can derail employees’ financial well-being and impact their performance, attendance, and overall stress. As a result, employers are increasingly looking for ways... Show More
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SecureSave

SecureSave

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Min. Group Size

1 eligible

Lives Serviced

150,000

Average Cost

Average Cost is Locked

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Product Features

✓

Emergency savings accounts models

 ✓

Intergrated solution
✓

Application access

 ✓

Services in multiple languages
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Product Description

SecureSave helps people save for emergencies and makes sure they are prepared for life’s unexpected events. We do this by partnering with employers to easily add emergency savings accounts (ESAs) to their benefits... Show More
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SaverLife

SaverLife

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Founded

2001

Employees

43

Funding Summary

Not Provided

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About SaverLife

SaverLife (formerly EARN) is a nonprofit on a mission — to inspire, inform, and reward the millions of Americans who need help saving money. Through engaging technologies and strategic partnerships, we give working people the methods and motivation to take control of their financial future. Show More
BrightPlan

BrightPlan

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Founded

2016

Employees

55

Funding Summary

9.5M Series A

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About BrightPlan

With BrightPlan, organizations can offer a seamless, integrated solution that delivers immediate and measurable benefits. Moving beyond the traditional 401(k) plan, this platform creates a truly global solution, offering every employee access to personalized financial wellness resources, no matter where they are located. Show More
DailyPay, Inc.

DailyPay, Inc.

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Min. Group Size

400 eligible

Lives Serviced

5,088,000

Average Cost

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DailyPay makes it simple to adopt healthy savings habits with two savings options that will help employees start, build, and maintain their savings. Auto Save enables employees to build a strong savings safety... Show More
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Sunny Day Fund

Sunny Day Fund

5.0 (1)
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-

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-

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Product Description

Our core business is an an out-of-plan emergency savings program & platform. This means our workplace saving platform sits outside of ERISA and is completely separate from your retirement account plan.
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FinFit

FinFit

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Founded

2008

Employees

54

Funding Summary

7M Series D

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About FinFit

FinFit was established in 2008 and currently services over 500,000 organizations across the United States. As the most comprehensive employee financial wellness solution in the country, we believe we’re better together. We believe in the power of elevating all employees, and we believe everyone should have a seat at the table. At FinFit, we’re working to bridge the opportunity gap with equal access to services, products, and solutions to grant your workforce financial stability today, and financial security tomorrow. Show More
Prosperity Now

Prosperity Now

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Founded

1979

Employees

97

Funding Summary

Not Provided

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About Prosperity Now

Since 1979, Prosperity Now (formerly CFED) has been a persistent voice championing economic opportunity, innovating outside of and beyond existing systems to build power for all communities. We advance racial and ethnic economic justice by investing in bold new ideas, and we work deeply at both the grassroots and national level to impact the entire ecosystem. By setting goals for our economy and following through with targeted approaches based on need, we are equipped to drive forward and cement big structural solutions. Join Prosperity Now in creating a new, transformed economy that works for all of us. Visit us at... Show More
Aduro

Aduro

3.7 (37)
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Min. Group Size

400 eligible

Lives Serviced

750,000

Average Cost

Average Cost is Locked

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Product Features

✓

Intergrated solution

 ✓

Application access
✓

Educational resources

 ✓

Reporting
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Product Description

Aduro supports employees in building and maintaining emergency savings by providing the education, tools, and behavioral support needed to develop healthy financial habits. While we do not create, administer, or hold emergency savings... Show More
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TempoPay

TempoPay

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Min. Group Size

100 eligible

Lives Serviced

-

Average Cost

Average Cost is Locked

0 RFI Questions Get access to vendor answered question RFIs.

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12 Specific Questions Specific Questions

Lock

Product Features

✓

Emergency savings accounts models

 ✓

Intergrated solution
✓

Application access

 ✓

Security protocol
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Product Description

TempoPay offers employees a safe, affordable way to manage unexpected or high-cost healthcare expenses without financial strain. Provided at no cost to the employee, this program provides quick access to small amounts of... Show More
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Fidelity Investments

Fidelity Investments

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Founded

1946

Employees

69,817

Funding Summary

40M Series A

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About Fidelity Investments

Fidelity Investments® has been in business 73 years. It was founded in 1946 by Edward C. Johnson 2d, as an investment management company. Fidelity entered the benefits administration business in 1982 in response to corporate clients’ requests to couple their mutual fund investments with defined contribution recordkeeping services. Today, Our Workplace Solutions organization provides defined contribution, defined benefit, health & welfare, Payroll and HR, health savings accounts, and stock plan services, to employers in virtually every industry.

Supporting the well-being of the people and organizations we serve through financial and retirement solutions has always been our top... Show More
Inspira Financial

Inspira Financial

4.7 (1)
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Min. Group Size

1 eligible

Lives Serviced

153

Average Cost

Average Cost is Locked

0 RFI Questions Get access to vendor answered question RFIs.

RFI questions number is Locked

12 Specific Questions Specific Questions

Lock

Product Features

✓

Emergency savings accounts models

 ✓

Intergrated solution
✓

Services in multiple languages

 ✓

Security protocol
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Not Provided.

Product Description

An emergency savings fund (ESF) is a benefit offered by employers that allows accountholders to prepare for financial challenges through automatic payroll deductions. It provides quick access to funds during urgent situations and... Show More
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Chime Workplace

Chime Workplace

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Founded

2012

Employees

1,800

Funding Summary

Not Provided

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About Chime Workplace

At Chime, our mission is to help employees make progress in their financial journeys. Chime Workplace builds on Chime’s purpose-built financial tools to provide next-generation financial wellness solutions that address the unique needs of all frontline employees - leading to better employee engagement and reduced turnover. Our tools help employees manage their pay, effortlessly save, build credit history, and learn how to make better financial decisions. The net result? 97% of employees feel more financially secure.

For employers, our Employer Portal provides best-in-class, real-time, AI-powered reporting and insights across multiple dashboards. These offer both high-level insights... Show More
HSA Bank, a division of Webster Bank, N.A.

HSA Bank, a division of Webster Bank, N.A.

3.3 (3)
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Min. Group Size

1 eligible

Lives Serviced

25

Average Cost

Average Cost is Locked

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Product Features

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Product Description

A benefit account for employers to help employees save for short-term unexpected expenses, recognizing that financial well-being starts with having funds set aside to cover those more immediate needs.

... Show More
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Freespira, Inc.

Freespira, Inc.

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Founded

2013

Employees

30

Funding Summary

40M Angel Round

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About Freespira, Inc.

Recognizing the need for alternative and more condition specific treatments, many health plans are improving access and personalization to mental health solutions that impact overall spend while providing relief for members in less time. Freespira is a first-in- class FDA-cleared, medication-free digital therapeutic indicated for treatment of Panic Disorder and Post Traumatic Stress Disorder (PTSD). Freespira addresses a common underlying physiological factor of panic attacks and PTSD symptoms, a hypersensitivity to carbon dioxide (CO2), which can lead to chronic respiratory dysregulation and bodily hypervigilance, a leading factor of panic attacks and PTSD flashbacks. Freespira normalizes CO2 and respiratory rates in... Show More
Stream

Stream

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Min. Group Size

100 eligible

Lives Serviced

3,352,867

Average Cost

Average Cost is Locked

0 RFI Questions Get access to vendor answered question RFIs.

RFI questions number is Locked

12 Specific Questions Specific Questions

Lock

Product Features

✓

Emergency savings accounts models

 ✓

Intergrated solution
✓

Application access

 ✓

Global service availability
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Not Provided.

Product Description

Save is Stream's workplace savings product. It’s a simple way for employees to build financial resilience directly from their paycheck. With no separate app to download and no bank account to manually open,... Show More
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ZayZoon

ZayZoon

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Min. Group Size

1 eligible

Lives Serviced

7,332,548

Average Cost

Average Cost is Locked

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Product Features

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Product Description

ZayZoon excels in supporting employees to build emergency savings. Their intuitive tools allow workers to access earned wages ahead of schedule, promoting responsible financial planning. This service is more than a convenience; it's... Show More
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Paytient

Paytient

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Company Overview

Founded

2018

Employees

73

Funding Summary

40M Private Equity Round

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About Paytient

Paytient is an employer-sponsored benefit that removes financial barriers to care while boosting retention, health equity, and financial wellbeing.

Here’s how it works—

Employers determine the credit allowance, max repayment terms, and approved spending categories: typically $500 to $2,000 for medical, dental, vision, pharmacy, mental health, and vet care. Max repayment terms range from 12-36 months.

Employees activate their card with NO CREDIT CHECK. Once approved, they have access to their virtual Visa card (a physical card follows by mail).

After each transaction, employees set a... Show More

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Frequently Asked Questions

What is an Employer-Sponsored Emergency Fund Account?

It's a workplace benefit that helps employees build accessible cash reserves for unexpected expenses through automatic payroll deductions, often with employer matching contributions.

Who is eligible to participate?

Eligibility varies by employer but typically includes all full-time employees after a waiting period (often 30-90 days). Part-time employees may also be eligible depending on company policy.

How do Contributions work?

You choose a fixed dollar amount or percentage to be automatically deducted from each paycheck and deposited into your emergency fund account.

Can I change my Contribution Amount?

Yes, most plans allow you to adjust your contribution amount during open enrollment periods or after qualifying life events. Some employers may allow changes at any time.

Are there Restrictions on when I can withdraw Money?

While these accounts are designed for emergencies, most don't restrict withdrawal purposes. However, some employers may require attestation that withdrawals are for qualifying emergencies.

Are Contributions tax-deductible?

No, contributions are typically made with after-tax dollars, meaning you've already paid income tax on the money.

Can I have both this Account and a Personal Emergency Fund?

Yes, many financial advisors recommend using employer-sponsored emergency funds as part of a broader emergency savings strategy.

How is this different from a Regular Savings Account?

Key advantages include automatic payroll deductions for consistent saving, potential employer matching, and dedicated purpose that reduces temptation to spend on non-emergencies.

What qualifies as an Emergency Expense?

Common emergencies include unexpected medical bills, major car repairs, home repairs, temporary job loss, or other urgent, unplanned expenses that would otherwise require debt.

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