BrightUp is an employee benefits provider focused on enhancing individuals’ financial wellbeing by offering a low-cost emergency loan program, free money management tools, and access to content from leading publishers.
BrightUp’s platform provides employees with a low-cost loan that carries a fixed APR regardless of credit score and free money management tools, including an investment calculator, budgeter, goal tracker, and in-depth analytics.
In addition to those services, BrightUp recognizes that financial literacy is critical to long-term goal planning and financial independence and offers access to leading publications such as The New York Times, Washington Post, Business Insider, Oprah and others.
For companies using BrightUp, employees have access to the entire range of services for free.
BrightUp’s low-cost loan program allows individuals to borrow up to a week of pay, which is repaid at an 8% interest rate and can be paid over two years through paycheck deductions.
The loan program works in tandem with the participating organization’s Human Resources and Payroll departments in order to set up and monitor paycheck deductions that are customized to the particular companies’ payroll needs.
In addition to the ease of access provided, the loan is kept confidential from the employer. BrightUp seeks to remove some of the stress and worry that can come from financial hardship and will only contact an employer to verify employment information and pull payment deductions.
BrightUp partners with US ALLIANCE Financial, a full-service credit union, to facilitate the loan.
To learn more about BrightUp and receive the weekly newsletter, visit Newsletter - BrightUp (getbrightup.com).
BrightUp At A Glance
- Founded in 2020
- Private company
- Headquartered in Boston, Massachusetts
- Goodwin client since October 2020