Purchasing Power, a voluntary benefits and financial wellness company, celebrated another successful year in expanding its solution to more markets across the U.S. and empowering financial wellness.

In March 2022, The Harris Poll, on behalf of Purchasing Power, conducted the 2022 State of Employee Finances online survey to assess the impacts that the pandemic, inflation and ongoing economic challenges have on working Americans. The survey demonstrated a need for more financial wellness resources across the country.

Continuing its drive to enhance and expand financial wellness tools and resources, Purchasing Power announced a partnership with SpringFour and Working Credit to better support its customers. SpringFour enables consumers to find vetted, local nonprofit resources that can help them address some of their immediate financial challenges including childcare services, utility costs, and food savings. The service is offered at no additional cost to Purchasing Power customers.

Working Credit connects customers with counselors for one-on-one sessions to receive personalized advice for improving and building their credit.

"Today's employees experience financial stress at incredibly high rates, and our research found that nearly three in four employees expect their employer to do something about it," said Trey Loughran, CEO of Purchasing Power. "We give employers the tools they need to support their hardworking employees, and I'm excited for the work we're doing in 2023 to extend our offering even further."

Purchasing Power took several other steps in 2022 to give customers greater access to the resources they need to support themselves and their household. These included:

Adding 10 new vendors to its catalogue to meet expanding customer needs and requests,
Introducing 265 new brands to ensure continued availability of top-quality products and services,
Helping more than 100 clients apply introductory spending limits to their programs to offer broader employee access and participation, and
Continued to welcome many new clients to Purchasing Power, including one of the largest U.S. State Government agencies – expanding the ability to help more than 5.1 million employees.
Finally, Purchasing Power grew its leadership team, hiring Stephanie Doherty as Chief People Officer, Dutch Ross as VP of Public Sector Sales and Development, Paul Lawler as Northeast Region Sales Director, and Nancy Bistritz-Balkan as VP of Client Marketing & Corporate Communications. The company also named Lilicia Bailey, CHRO at Emory Healthcare, to its board of directors.

In 2023, Purchasing Power is committed to further expanding access to its purchasing program and financial wellness services to help reduce financial stress and improve the lives of its customers.

To learn more about Purchasing Power and its commitment to financial wellness, visit corp.purchasingpower.com/our-mission/financial-wellness.