SecureSave Competitive Intelligence & Landscape

SecureSave (securesave.com) is a pioneering financial wellness company that specializes in providing employer-sponsored Emergency Savings Accounts (ESAs). Their core mission is to help individuals feel and be financially secure by enabling them to save for unexpected events [securesave.com/mission]. They partner with employers to seamlessly integrate ESAs into their existing benefits programs, offering a low-cost solution to alleviate employee financial stress and enhance overall well-being [securesave.com]. The company emphasizes a purpose-built approach to emergency savings, ensuring easy deployment and management for HR teams while focusing solely on this crucial aspect of financial health [securesave.com/employers].

SecureSave's product suite includes a robust platform for employers to customize and administer emergency savings benefits, with clear and straightforward pricing plans available on a flexible monthly basis [securesave.com/pricing]. For employees, SecureSave offers convenient web, Android, and iOS applications, facilitating an easy signup process and providing dedicated customer support. Employers can also leverage features like payroll matches, signup bonuses, and milestone bonuses to incentivize saving [securesave.com/employees]. The company targets a broad market of employers, ranging from small businesses with fewer than 250 employees to larger enterprises, providing a vital tool to combat the financial stress that can lead to reduced productivity, higher employee churn, and increased safety violations [securesave.com, securesave.com/pricing].

The impact of SecureSave's platform is evidenced by strong engagement metrics; as of January 2024, employers launching directly with SecureSave achieved an average adoption rate of 60%, with an impressive 87% savings retention rate among members [securesave.com/by-the-numbers]. The company officially announced Dawn Lepore, former chairman and CEO of drugstore.com, joining its board of directors in March 2022, signaling its growth and strategic development [securesave.com/blog/dawn-lepore-joins-securesave-as-independent-board-director]. Headquartered in Seattle, Washington, SecureSave (operating as Secure, Inc. for legal purposes) offers its services through its website and associated products, focusing entirely on delivering the

SecureSave provides an employer-sponsored emergency savings solution designed to alleviate employee financial stress and enhance overall well-being. The company's core offering is a Workplace Emergency Savings Account (ESA), which employers can implement with minimal administrative effort, often within two weeks [securesave.com]. This service is characterized by its easy implementation, removing traditional enrollment barriers to simplify rollout at any time of year [securesave.com]. Employers are able to customize and administer the emergency savings benefit through a dedicated product platform [securesave.com].

SecureSave offers clear and transparent pricing, with contracts available on a month-to-month basis [securesave.com/pricing]. For Small Businesses with fewer than 250 employees, pricing starts as low as $99/month [securesave.com/pricing]. A sample plan for a company of 50 employees includes a $25 sign-up bonus and a $3 biweekly match on $20 saved, indicating that employers can offer various incentives such as sign-up bonuses, savings matches, and milestone rewards to encourage employee savings habits [securesave.com/pricing, securesave.com/use-cases/improve-employee-financial-wellness]. Notably, the service is completely free for employees, as it is an employer-sponsored benefit [support.securesave.com/support/solutions/articles/73000591528-are-there-any-fees-for-having-a-securesave-account-].

Key features of the SecureSave platform include easy deployment and management, industry-high adoption and savings retention, and the ability to make a tangible impact on employee well-being, distinguishing it from purely educational financial wellness tools [securesave.com/employers]. Employees benefit from web, Android, and iOS apps for convenience, a quick 2-minute signup process, and dedicated customer support [securesave.com/employees]. The funds saved by employees are FDIC-insured and can be withdrawn at any time, with the program operating as a non-ERISA, standalone solution [securesave.com/use-cases/improve-employee-financial-wellness, securesave.com/use-cases/reduce-401-k-loans-withdrawals]. This low-cost, high-impact solution aims to reduce financial stress, improve productivity, and enhance employee retention [securesave.com].

SecureSave, a leading provider of employer-sponsored Emergency Savings Accounts (ESAs), actively seeks to expand its team. The company emphasizes its commitment to finding great people to support its mission of enhancing employee financial wellness. Prospective candidates are encouraged to submit their resumes to career@securesave.com or browse and apply for open positions directly through links on their website, specifically on their About us and Mission pages. This open invitation for applications suggests a continuous growth strategy rather than a focus on mass hiring events.

While specific recent hiring trends in terms of numbers aren't publicly detailed, SecureSave's content consistently highlights the impact of financial stress on employee retention and productivity, suggesting a need for internal growth to meet increasing demand for their solutions. Their focus on aiding employers in enhancing recruitment and retention efforts through ESAs implies that their internal staffing needs likely mirror this emphasis, perhaps seeking talent in sales, client success, and product development to further expand their service offerings and client base.

The absence of any information regarding layoffs on their official website or within the provided search results indicates that SecureSave has not publicly disclosed any recent workforce reductions. Instead, the company's messaging consistently points towards expansion and the positive impact of emergency savings on employee populations. Their articles, such as those by Jason Herman on aligning benefits with employee needs, and the SecureSave Team's discussions on productivity and financial challenges, reinforce a strategic focus on growth and employee well-being, both for their clients' workforces and their own.

SecureSave, a pioneering force in employer-sponsored emergency savings accounts (ESAs), has demonstrated robust financial activity since its founding in early 2020. The company recently secured an impressive $11 million in new funding, led by Truist Ventures, the venture capital arm of Truist Bank, with additional participation from Stearns Financial Services Inc. and all existing major investors. This significant capital injection underscores investor confidence in SecureSave's mission to address employee financial stress and improve overall workforce well-being, particularly in the wake of the economic challenges presented by the COVID-19 pandemic. The company's unique approach to ESAs, which are designed for easy and low-cost implementation, positions it as a leading solution in the financial wellness landscape.

While specific revenue figures are not publicly disclosed, SecureSave's success can be inferred from its rapid growth and the impactful results it delivers for both employers and employees. The company's platform has enabled most users to save $400 within just four months, with the average amount saved reaching $1,000 in one year. These figures highlight the effectiveness of SecureSave's model in promoting financial security. Furthermore, SecureSave boasts an average adoption rate of 60% among employers who have directly launched their services as of January 2024, alongside an impressive 87% savings retention rate in ESA accounts [https://www.securesave.com/by-the-numbers]. Such metrics suggest a strong and growing client base, indicating positive financial performance and market penetration.

SecureSave's financial health is further bolstered by its strategic partnerships and its role as an additional profit center for recordkeepers, providing a holistic financial wellness offering [https://www.securesave.com/partners/recordkeepers]. The company's impact on employee financial health is notable, with employees utilizing ESAs being 50% less likely to withdraw from retirement funds, 28% less likely to leave their jobs, and 87% less likely to have job-related safety violations [https://securesave.com/]. This direct correlation between emergency savings and improved business outcomes, including reduced churn and increased productivity, makes a compelling case for SecureSave's value proposition and its potential for sustained financial growth. The company's innovation is also recognized through its first granted patent for effective emergency savings accounts, solidifying its leading position in the industry [https://www.securesave.com/team/devin-miller].

SecureSave (securesave.com) actively engages in various events to promote the importance of Emergency Savings Accounts (ESAs) and their impact on employee financial wellness. The company hosts and participates in numerous web events and webinars, making these valuable resources available through their website. These online gatherings cover crucial topics such as "Improving Financial Wellness for your Employees at a Modest Cost" presented in collaboration with From Day One, and "The Rise of Emergency Savings Programs: What Every Employer Should Know" with the Financial Health Network. These events demonstrate SecureSave's commitment to educating employers and financial professionals about the benefits of ESAs.

Furthermore, SecureSave provides in-depth webinars focusing on practical applications and program design. Notable examples include "SecureSave Program Design," which delves into the intricacies of setting up effective ESA programs, and a webinar discussing a case study on achieving 71% adoption from an emergency savings benefit, highlighting a successful enterprise-level program with BlackRock and Commonwealth. Co-founder Suze Orman also plays a significant role in introducing SecureSave's offerings through dedicated video content, emphasizing the security and stability ESAs provide.

Beyond educational content, SecureSave offers interactive opportunities for prospective clients. They provide a direct demo of their Emergency Savings Account Program, allowing interested parties to schedule meetings with their team to discuss implementing an employer-sponsored ESA program. This blend of informative webinars, practical case studies, and accessible demos underscores SecureSave's multifaceted approach to engaging with the market and driving adoption of emergency savings solutions.