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New Mexico Association of Counties’ Board of Directors officially adopted TrueConnect
The New Mexico Association of Counties’ Board of Directors officially adopted TrueConnect as an employee benefit offering for its County members. Members of the New Mexico Association of Counties (NMAC) can now easily add TrueConnect to their employee benefits offerings through their NMAC Membership.
“We are always looking for ways to increase our value to our County members,” said NMAC Executive Director Steve Kopelman. “We saw the positive impact TrueConnect was having for employees of Doña Ana County and wanted to make that service more easily available to all 33 County Members of NMAC.”
TrueConnect is a financial wellness benefit program offered at no cost or financial risk to employers, including Counties. Once enrolled in the program, employees can access a small loan up to $3000, based on income, to help cover unexpected expenses. The loan is repaid through automatic payroll deductions over a full year term. A credit score is not used to determine eligibility so all employees, regardless of credit history, can qualify. Free credit counseling is also available to any employee taking a TrueConnect loan.
TrueConnect was launched for employees of Doña Ana County in February 2017. Over 20% of employees have taken advantage of the TrueConnect program so far. Taos County is expected to launch TrueConnect for its employees soon, as is the City of Las Cruces, NM.
About Employee Loan Solutions, Inc. (www.employeeloansolutions.com)
Employee Loan Solutions, Inc. developed the patented TrueConnect Loan program as a voluntary employee benefit to help employees access safe and affordable credit. The TrueConnect Loan is free for employers to offer and requires very little administration. Qualified employees get access to small-dollar loans (from $1000 – $3000) that are repaid through automatic payroll deductions. Employees do not need a credit history, but can only borrow what they can pay back with 8% of their paycheck to help insure a successful loan repayment. On-time payments are reported to credit bureaus so borrowers can build up their credit scores. All TrueConnect Loan borrowers get 6 free credit counseling services from LSS Financial Choice, a federally accredited credit counseling program. For more information about Employee Loan Solutions, please visit www.employeeloansolutions.com or connect with us on Facebook, Twitter and LinkedIn