Products February 28, 2005

Two Philadelphia Firms Partner in Banking Site

February 28, 2005 (PLANSPONSOR.com) - Two suburban Philadelphia companies have created a new Web site designed to offer banking services to employees as part of an employer's benefit lineup.
Reported by

A news release said Firstbenefitsfinancial.com offers interest-bearing accounts, loan products, stored value cards and other banking services that will be marketed through corporate HR/benefits Web sites. First Benefits LLC of Radnor Pennsylvania is working with The Bancorp Bank on the project, the news release said.

According to the announcement, any employee contribution not requiring pretax status can be linked to an employee’s checking account. When employees leave an employer, portable benefits can be continued by way of checking account deductions. For the employer offering Health Savings Accounts the employee has rollover opportunities that can facilitate COBRA payments, the announcement said.

More information is at https://secure.firstbenefitsfinancial.com/frameset.asp?GroupID=1 .

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