Allied Universal Partners with Chime to Deliver Fee-Free Financial Solutions to Hundreds of Thousands of Employees

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earned wage access financial

Earned wage access is a service that lets workers withdraw the portion of their pay they have already earned before the scheduled payday, like taking a small portion from a running paycheck instead of waiting for the full payroll cycle. For investors, it matters because providers can create steady fee or subscription revenue and reduce employee turnover for client companies, while employers may see changes in payroll timing, cash flow needs and regulatory exposure.

annual percentage yields financial

Annual percentage yields (APYs) measure the real rate of return on an interest-bearing account or short-term cash investment over a year, including the effect of compounding interest. Think of it like the annual growth rate of a savings jar where earned interest is repeatedly added back and earns more interest itself. APYs matter to investors because they let you compare the effective yearly return of deposit accounts and similar instruments regardless of how often interest is compounded.

fdic-insured regulatory

"FDIC-insured" means that a bank or savings institution is protected by the Federal Deposit Insurance Corporation, which guarantees that depositors will get back their money up to a certain limit if the bank fails. This insurance provides peace of mind, similar to a safety net, ensuring that your savings are protected even if the bank encounters financial trouble. It helps build trust and confidence for people saving or investing their money in banks.

pass-through deposit insurance coverage regulatory

Pass-through deposit insurance coverage is insurance that treats funds held by an intermediary—such as a broker, custodian, or trustee—for multiple customers as separately insured for each underlying owner. Like an umbrella that passes protection down to each person underneath, it lets regulators insure each beneficiary’s share rather than the intermediary’s pooled balance. This matters to investors because it affects how much of their cash is protected from bank failure and how safe custodial or sweep arrangements appear on a balance-sheet level.

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One of the nation's largest employers joins a growing roster of companies adopting Chime Workplace over legacy point solutions

NEW YORK--(BUSINESS WIRE)-- Chime^® (NASDAQ: CHYM) today announced Allied Universal, a global leader in security and facility services, as its newest employer partner. The partnership will expand access to Chime’s fee-free¹ financial wellness tools for hundreds of thousands of frontline employees. The momentum extends beyond new employer partnerships: First Student, the nation's largest student transportation provider that deployed Chime Workplace™ earlier this year, is already seeing positive financial health results among its employees.

Allied Universal, one of the largest employers in the U.S. with approximately 320,000 North American-based employees, will now offer Chime Workplace, Chime's comprehensive financial wellness suite, to its teams at no cost to the company or its employees. Employees gain access to Chime's trusted suite of financial tools: fee-free earned wage access (EWA)² for on-demand pay, high-yield savings earning up to 3.75% APY³, investing, and credit-building⁴ tools. Allied Universal, in turn, gains real-time visibility into how its teams are saving, building credit, and using the benefit to improve financial health through the Chime Workplace portal.

“Supporting a workforce as large and diverse as ours requires benefits that are accessible, relevant, and meaningful to employees at every stage of their financial journey,” said Don Tefft, Chief Human Resources Officer, Allied Universal. “Chime Workplace helps provide tools and resources that can support financial wellness, giving our employees greater flexibility and helping them build confidence in their financial future.”

This new partnership expands Chime Workplace's reach to the security industry, adding to a customer base that already spans healthcare, transportation, professional services, and other sectors. This large-scale adoption also reflects growing employer demand for comprehensive financial wellness benefits that can demonstrate measurable outcomes. At First Student, 46% of active enrolled employees began saving within two months of launch. Of those employees, 76% continued building their savings — an early indication of the kind of financial progress employers are looking for.

“Employers are done with fragmented benefits that add complexity without delivering meaningful financial outcomes,” said Mark Troughton, President of Chime. “They want one partner that can help employees make measurable financial progress — without adding cost. Allied Universal choosing Chime sends a clear signal: the market is moving beyond a patchwork of point solutions toward a comprehensive, fee-free approach that supports employees across their financial lives.”

The momentum reflects a broader shift in how employers think about financial benefits. In a 2026 Everest Group report, 76% of employers said financial wellness is now a strategic priority — yet 83% acknowledged their current programs struggle to demonstrate measurable financial outcomes for employees. It's a gap Chime Workplace is built to close.

Explore how leading employers are redefining financial wellness at work: Learn more

About Chime
Chime (Nasdaq: CHYM) is a financial technology company founded on the premise that core banking services should be helpful, easy, and free. We offer a broad range of low-cost banking, payments, and investing products that address the most critical financial needs of everyday people. Our member-aligned business model has helped millions of people to unlock financial progress™. Funds in Chime deposit accounts are FDIC-insured through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, up to applicable limits*.

*Chime is not FDIC-insured. The Bancorp Bank, N.A. and Stride Bank, N.A. are the FDIC-insured members. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. FDIC deposit insurance limit is $250,000 per depositor, per insured bank, per ownership category.

Chime Workplace offered by Chime. Banking services provided by Chime's bank partners, The Bancorp Bank, N.A. or Stride Bank, N.A.

1 Certain optional fees apply to services. See Chime.com/policies for more information.

2 MyPay at Work® provided by The Bancorp Bank, N.A. or Stride Bank, N.A.. MyPay at Work services provided by Chime Capital, LLC (NMLS 2316451). MyPay at Work® advances are instant and free while you are employed with a Participating Employer.

3 The Annual Percentage Yields ("APYs") for the Chime Savings Account are variable and may change at any time. The disclosed APY rates are effective as of 08/03/2026. No minimum balance required. Must have $0.01 in savings to earn interest. The following APY rates apply based upon your status: 3.75% APY for Chime Prime, 2.75% APY for Chime Plus, and 0.75% APY for standard. See Chime Membership Tiers Terms and Conditions for more details.

4 On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Results may vary.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260803687722/en/

Media Contact:
press@chime.com

Source: Chime