Beyond EWA: How a senior living company helped employee savings skyrocket

Key insight: Learn how offering comprehensive financial wellness benefit improved employee financial health and retention strategies.
What's at stake: Fee-laden benefits threaten financial wellness goals and employer brand in high-turnover sectors.
Expert quote: "Are we driving the right outcomes?" Jason Lee, Chime Enterprise.
Source: Bullets generated by AI with editorial review

Employees at a senior living company paid $87,000 in earned-wage-access fees over the course of six months last year, according to a usage analysis that their upper management found shocking.

The fees incurred by employees of Senior Living Communities worked directly against the financial security the company was aiming to provide its workforce, said Heather Stewart, VP of talent at Maxwell Group, Senior Living Communities' parent company. The data led Stewart to seek out a new solution. She was already familiar with Chime Workplace, a financial wellness suite that includes fee-free earned wage access (EWA) offered through Chime Enterprise, and decided to make the switch. 

"It was staggering to see how much of employees' hard-earned pay was being lost in fees with our vendor at the time, so that's when we decided to explore Chime further," Stewart said. Chime Workplace was made available to Senior Living Communities' roughly 3,200 employees, many of whom are hourly, in October 2025.  

In addition to EWA, Chime Workplace offers a high-yield savings account option, credit score improvement tool, and financial education resources. A case study done since Senior Living Communities' implementation revealed a 145% increase in employee savings accounts and a 142% increase in active savers.

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"Is what we're doing working?"

This type of analysis is a good example of the due diligence more companies are undertaking as they seek to prioritize employee wellness, recruitment and retention, said Jason Lee, chief of Chime Enterprise. 

"Companies are looking at everything and wondering, 'Are we actually driving the right outcomes?'" said Lee. "That could be the snacks in the break room, the healthcare plan, and it certainly includes the financial wellness program. Financial stress continues to be top of mind … it's very acute, because wage growth is not keeping track with affordability, so what else can we do for employees?"

For the senior living industry, which has a notoriously high turnover rate, the ability to stand out in this area is a game changer, said Stewart. 

"Financial wellness services are a differentiator in a competitive employment market and can help make you an employer of choice. Team members want flexibility to get their pay advanced when they need it. When we made the switch to Chime Workplace, it was even more appealing to offer additional services like high-yield savings, credit building, and financial education that our team members may not have considered before or had access to," she said.  

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Feeling financially stable can also improve employee performance, which for those in people-facing positions like senior living and care ties directly to customers and resident satisfaction. A report from people management platform Deputy showed that "of workers who love their jobs, 72% report having very predictable income, 46% can cover their living expenses with money left over, and 41% are regularly able to save for the future." However, three quarters who dislike or hate their job also said they couldn't save for the future, and 39% are unable to cover their current living expenses. 

Comprehensive financial wellness, low HR lift

To make sure employees understood and engaged with Chime Workplace early on, Stewart and her team communicated its arrival and details ahead of time.

"We used a measured communication plan that included emails, UKG Talk (team member messaging feature that sends notifications to their cell phones) and we added information to our new hire orientation slides," Steward explained. 

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She also noted the reduction of HR's workload, which included "updating the direct deposit information for every payroll" with the old vendor. Feedback about the change has been positive, especially in regard to a zero-fee EWA model and the education modules Chime offers, including budgeting, purchasing a car, preventing identity theft, improving credit scores and saving for college, Stewart said. Chime's services join other benefits available to Senior Living Communities' workforce, such as education reimbursement, PTO cashout and an emergency loan program.   

"We want our team members to take advantage of these programs and services to take charge of their financial life," Stewart said. "That allows them to offer their best version of self to our members/residents. Investing in our team is ultimately an investment in the quality of life we create for every resident we serve."