MOUNTAINSIDE, NEW JERSEY – February 29, 2012, FlexWage® Solutions LLC announced today that they have been selected as an approved payroll card vendor by the CurrenC SF program. CurrenC SF, www.currencsf.org, is the latest program launched by the San Francisco Office of Financial Empowerment designed to help the businesses and workers of the San Francisco area adopt modern, innovative payroll solutions. The CurrenC SF program offers benefits for workers, employers, the environment, and ultimately, the City of San Francisco. The San Francisco Office of Financial Empowerment (SF OFE) is housed within the Office of the Treasurer of San Francisco.
“We are very proud to be one of the small group of payroll card program providers selected by CurrenC SF to be part of this exciting new initiative,” said Frank Dombroski, President, and CEO of FlexWage Solutions LLC. “We look forward to working with the area’s employers and the team at CurrenC SF to make this program successful. Together we will help the working people of San Francisco save money and achieve greater financial stability”.
FlexWage Solutions has developed a unique payroll card product enhanced by proprietary technology called WageBank®. By providing fast and easy access to earned but unpaid wages through its WageBank product, FlexWage saves employees money while increasing the employer’s bottom line through improved employee productivity, satisfaction, and retention, and the elimination of costly payroll disbursements via paper check. Employees receive a FlexWage payroll card and via WageBank, are able to instantly transfer earned but unpaid wages onto the card. They incur only a nominal flat convenience fee. There is no loan, no interest and nothing to repay since accessed funds are simply deducted during the next payroll cycle.
FlexWage Solutions LLC is an innovative financial services company dedicated to providing compelling solutions to employers and employees via its patent-pending WageBank product. FlexWage offers the industry’s only solution that provides employees reasonable access to earned wages in advance of their scheduled payday. Through its products, FlexWage helps improve the quality of life for employees, enhances employee productivity, and minimizes expense and environmental impact by reducing paper-based payroll delivery. The FlexWage platform was developed by a team of financial services and IT leaders, with 60+ years of combined experience in the commercial credit and debit payments industry. Learn more at www.flexwage.com.
About San Francisco Office of Financial Empowerment
Through the Bank on San Francisco initiative and the creation of an Office of Financial Empowerment, the City and County of San Francisco has emerged as a national leader in the delivery of programs to increase financial inclusion and combat predatory practices. The key focus of this work is connecting low-income San Franciscans to healthy financial products and providing culturally relevant financial education to ensure success in the mainstream. San Francisco views the role of the city government as essential to this work, and primarily serves as a convener and influencer in the furtherance of financial empowerment goals, bringing together financial institutions, regulators, philanthropic funders and community based organizations. In 2009, the City of San Francisco became one of only three cities in the country to launch a municipal Office of Financial Empowerment, housed within the Office of the Treasurer, which primarily serves as the banker, tax collector and investment officer for the City and County of San Francisco.