Highmark CU Supports Employees Financial Well-being

This credit union is providing zero interest Impact Loans to staff who face unforeseen circumstances. 

Rapid City, SD – Highmark Credit Union’s dedication to empower people along their financial journey extends beyond its commitment to its members. Highmark is equally committed to empowering team members along their financial journey. This includes providing resources to employees who face emergency circumstances, and who need to secure funds on short notice to make it through a tough time. To this end, Highmark established a relationship with the Community Impact Fund (CIF) to provide Impact Loans to Highmark employees who need them most.

“Anyone can suddenly face a financial need due to unforeseen circumstances. We are proud to offer these Impact Loans as a means by which to provide a hand up to our dedicated team members,” said John Carlson, President, Highmark Credit Union.

An Impact Loan is a 0% interest loan with a payback period that is scheduled over 12 months.

Impact loans can be used for emergency expenses, avoiding fees and high-interest loan and helping build emergency savings. The loan amounts range from $500-$1500, and the application process is fast and anonymous.

“Impact Loans are a way to help employees achieve financial well-being by giving them access to an interest-free loan that has an extended payback period, said Carlson. In addition, the loan comes with a matching 10% Savings Bonus at the end of the payback period.

Highmark hopes to roll this program out to the community outside its walls after a pilot program in-house that was launched January 2023. The response so far is summed up with a statement from an employee who recently applied for and received a community impact loan, “I received the disbursement from my loan this morning. It was really easy. I felt respected and treated kindly, and it was not embarrassing.”

For more details, or to donate to Highmark’s Community Impact Fund, follow this link.