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If these FAQs don’t quite answer your question, reach out to us!

  • Phone support: (833) 513-1302, weekdays from 9am-5pm ET
  • Email support: hello@getbrightup.com responses within 24 hours
  • Facebook messenger: Just check out our facebook page here
  • Live chat: It’s the blue icon on the bottom right of the website

Overview

For Employers

BrightUp is an all-in-one financial wellness benefit that offers your employees a low cost loan, free money management tools, and exclusive access to financial education from leading publishers.

BrightUp offers your hardworking employees: a low-cost loan, which carries a fixed single-digit APR regardless of credit score; free money management tools, including an investment calculator, budgeter, goal tracker, and in-depth analytics; and exclusive access to publishers like Oprah, New York Times, Washington Post, Business Insider, and others. 

Payment varies based on the number of employees in your company. As an employer, you will be charged an annual subscription fee. This allows BrightUp’s offerings to be free for your employees. To get a quote, please contact hello@getbrightup.com.

Your employees can access the BrightUp platform free of charge! If they choose to take out a BrightUp Loan, they are responsible for paying back the loan, which includes a small 8% interest payment. They can also leave an optional tip after they finish paying off the loan. 

They should go to www.getbrightup.com and click “Login/Signup” at the top right hand corner. We recommend they use a cell phone to access BrightUp as opposed to a desktop computer.

Absolutely!

  • Phone support: (833) 513-1302, weekdays from 9am-5pm ET
  • Email support: hello@getbrightup.com responses within 24 hours
  • Facebook messenger: Just check out our facebook page here
  • Live chat: It’s the blue icon on the bottom right of the website

For Employees

BrightUp is an all-in-one financial wellness benefit that offers your employees a low cost loan, free money management tools, and exclusive access to financial education from leading publishers.

BrightUp is a mobile-enabled website. This means that you don’t need to download an app to access it. Just go to your web browser (e.g., Safari or Google Chrome) and type in www.getbrightup.com. Click the “Login/Signup” button at the top right hand corner to get started.

Go to www.getbrightup.com and click “Login/Signup” at the top right hand corner. We recommend using your cell phone to access BrightUp as opposed to a desktop computer. 

BrightUp is absolutely free! However, if you choose to take out a loan (which is completely optional), you will be required to pay it back along with a small 8% interest payment. 

BrightUp offers financial planning tools that let you know how much you are spending, saving and investing across all your accounts. Knowing where you stand is the most important first step in improving your financial situation.

In order for BrightUp to give you the best possible financial planning experience, we need to connect to your bank accounts. This lets us bring together your financial data and show it to you in one, easy place. 

Yodlee, the company BrightUp uses to securely aggregate your financial information, uses state of the art encryption to ensure that nobody expect you can see your financial data. Yodlee works with many of the country’s  leading financial institutions, such as Bank of America and Wells Fargo, so you can be rest assured your data is in reliable and experienced hands. For more information, check out Yodlee’s Data Promise here: https://www.yodlee.com/company/data-promise 

Yodlee is the company BrightUp works with to securely connect your bank information to the BrightUp app. 

When you connect your bank accounts to BrightUp, Yodlee will ask you for the login details of your financial institution. It then encrypts any data you share between financial institutions and BrightUp.

Yodlee never shares the login or password for your account to your financial institution with anyone. 

Absolutely!

  • Phone support: (833) 513-1302, weekdays from 9am-5pm ET
  • Email support: hello@getbrightup.com responses within 24 hours
  • Facebook messenger: Just check out our facebook page here
  • Live chat: It’s the blue icon on the bottom right of the website

BrightUp Loan

Overview

The BrightUp loan is a financial wellness tool that gives your employees access to affordable credit, regardless of credit score. 

The BrightUp loan lets you borrow up to one week of pay and repay through paycheck deductions. The APR is 8% for all, regardless of credit score and you get 2 years to repay.

Anything at all! The BrightUp Loan provides a safe and affordable way to access the cash you need to cover unexpected expenses for you, or your family.

To keep our loans safe, we ask that all borrowers:

  • Have been employed at your company for at least a year
  • Are in Good Standing (e.g., not on probation)
  • Consent to repaying their loan through paycheck deductions

Getting started is easy with BrightUp! We will work with your HR and Payroll departments to set up a system for processing and monitoring the paycheck deductions that is customized to your company’s preferences and capabilities. 

US ALLIANCE Financial is a full service Federal Credit Union. It is the financial institution BrightUp partners with to offer the BrightUp Loan. 

Sign-Up Process

Everyone who has been with their employer for more than 12 months, and is in Good Standing (i.e., not on probation) is eligible for the loan. 

Make sure you sign up here by April 16th so we can confirm your eligibility and get you set up. If you don’t you won’t be able to access the loan.

You need to sign-up in advance for three reasons:

  1. To confirm that you’re eligible
  2. To get your permission to view your employment data (to calculate your credit limit)
  3. To calculate your credit limit
We need your consent for a few things before we can process your loan. 
 
There are two things you need to consent to in order to get a loan:
  • Consent to conducting transactions electronically with BrightUp and BrightUp’s partner, USALLIANCE Financial, and to electronically receive disclosures and notices about my BrightUp Loan (more info here)
  • Consent to my employer sharing my personal information with BrightUp so BrightUp can calculate my loan eligibility and credit limit

The next two permissions are totally optional:

  • Consent to my employer sharing my gender and race with BrightUp so BrightUp can make sure everyone has equal access to the BrightUp loan
  • Consent to receiving emails from BrightUp containing the latest product updates, raffle giveaways, and weekly newsletter. If you change your mind, you can unsubscribe at any time

May 4th, when the app goes live!

Loan Request

Everyone who has been with their employer for more than 12 months, and is in Good Standing (i.e., not on probation) is eligible for the loan. 

Make sure you sign up here by April 16th so we can confirm your eligibility and get you set up. If you don’t you won’t be able to access the loan.

  1. Log into BrightUp and click the “Request a Loan” button on the homepage
  2. Choose the amount you want to borrow, the bank account you want your money to land in, then click submit
  3. Electronically sign your loan contract (you’ll get it via email from USALLIANCE Financial)

 

BrightUp will email you within 24 hours of receiving the signed contract to let you know your loan has been approved and to tell you when your money will arrive.

Applying for a BrightUp loan does not require a credit pull. Therefore, your credit score will not be affected by applying for this loan.

As you repay this loan, your repayment history will get reported to the credit bureaus. Since your repayments will be made through paycheck deductions, you can pay your loan off on time without having to think about it.  This is a loan that could increase your credit score, and you deserve nothing less!

You can borrow up to a 1 week of pay (post-tax and regular withholdings).

No. Repayments are processed through paycheck deductions from the borrower’s individual paycheck. 

All you need to know is how much money you want to borrow and which bank you want the money to go to. We get all the other info we need from your employer when you first complete the sign-up form.

If the information you have on file with your employer is incorrect for any reason, we’ll email you with instructions on how to update it right after you request a loan.

We ask for your bank account details when applying so that we can send you your money!

We separately ask you to indicate which bank account you’d like to use to repay your loan in the event you leave your job, or can no longer repay through paycheck deductions for any other reason. We won’t withdraw any money from that account until communicating with you first.

USALLIANCE Financial will email you a copy of your final loan documents after you complete the e-signature.

No, you can only request one BrightUp Loan at a time.

No, you can only request one BrightUp Loan at a time.

When you request a loan, you are able to indicate which bank account you want that money to go to. You cannot change the bank account you want your loaned funds to go to after you have requested your loan. 

Nope! 

We know money is a sensitive topic. That’s why everything you do with BrightUp is kept completely confidential from your employer.
 
If you choose to take out a loan, no one you work with will ever know.
 
BrightUp, together with USALLIANCE Financial, handles the entire process. The only time we connect with your employer is:
  • To get your employment info so you can access the loan
  • To automatically pull repayments from payroll if you end up taking out a loan
 
That’s it.

Fees

The only fee for the Low-Cost Loan is an 8% interest payment. Since the loan term is fixed at 2 years, that translates to an 8% APR. This interest rate is the same for everyone, regardless of their credit score. 

You can also leave a small tip after you have repaid your loan. That said, it’s totally optional!

Both the interest rate and APR are important for understanding how much you’ll have to pay for borrowing money. 

The interest rate is the cost of borrowing money, and is usually shown as a percentage of the amount being borrowed.

The APR is equal to the interest rate plus any other loan costs (like fees). 

The APR is a more comprehensive representation of the total annual cost that you owe for borrowing money. 

Since the BrightUp Loan charges interest and nothing else, the interest rate and the APR are both 8%.

No. It is fixed at 8% for the duration of your loan.

Nope! All you have to do is repay your loan, which is done automatically through paycheck deductions. Once you’ve paid it off, you have the option to leave a small tip to help keep the BrightUp loan affordable and available for others.

Repayment

You don’t need to do anything! Your company’s payroll department will deduct your repayments directly from your paycheck. 

If you’ve chosen to repay through Autopay (automatic repayments from a bank account), there is also nothing you need to do to make your loan payments.

Your loan repayments go directly from your company’s payroll to an account at USALLIANCE Financial, the Federal Credit Union responsible for administering the BrightUp loan.

Your repayments will usually begin 2 pay cycles after you request your loan. That said, the BrightUp App will tell you the exact date of your first payment once your loan is approved.

All loans have a fixed 24 month term.

Yes! You can payoff your BrightUp Loan early with no penalty! Simply select “Manage my loan” in the app menu and click the “pay early” button.

Repayments are processed through paycheck deductions, so as long as you are employed, your repayment will be automatically processed. 

Since your credit limit is up to a week of pay and you have 2 years to repay, the maximum paycheck deduction you’ll ever see is about 1% of your paycheck.

That said, we know life happens. If you can’t afford to have your paycheck deducted, drop us an email and you can switch to Autopay. With Autopay, you repay automatically through your bank account so you have full flexibility over what to spend your paycheck on.

You have three options:

  1. You can allow the money owed on the loan to be captured from their final paycheck (this is the default option unless you request otherwise)
  2. You can pay the money owed directly to BrightUp’s partner bank, USALLIANCE Financial.
  3. You can continue the loan for the remainder of their 2 year term at the same APR, but repay through Autopay (automatic payments from a bank account).

BrightUp offers an Autopay option so that people who leave their employer, or who can no longer afford to give up a small portion of their paycheck, can still stay on the loan program and keep the 8% APR.

When you take out a loan, you will be asked to indicate which bank account to use for Autopay in the event you a) Leave your employer, or b) Ask us to stop the loan paycheck deductions.

If either of those two events happen, we will email you to tell you when your Autopay repayments will begin and we will give you the option of updating your preferred bank account before the repayments start.

Financial Planning Tools

General

Not yet, but we are working on it! Currently, the BrightUp app is only accessible through the web, however, the wesbite is configured for mobile, so it has the look and feel of a mobile app.

The BrightUp app is free of charge! If you choose to take out a BrightUp Loan through ‘Request a Loan’, then you are responsible for paying back the loan, which includes a small 8% interest payment. You can also leave an optional tip after you finish paying off the loan.

The financial planning tools in the BrightUp app include:

  • Net worth summary
  • Accounts and transactions summary
  • Budget planner
  • Expense and income analysis
  • Savings goal setting
  • Valculator (Investment calculator tool)

The Valculator is a tool that lets you calculate the value (get it?) of investing for the future. Simply enter in:

  • The amount you’re thinking of investing
  • How long you can keep the money tied up
  • How much risk you’re comfortable with…


… And the Valculator will let you know how much money that investment could translate into. The numbers we show are estimates since no investment is 100% risk free, but you may be surprised how much value you can create from even a small, conservative investment into your future!

A core benefit of BrightUp is that it lets you automate your money management. Gone are the days where you have to log into multiple mobile apps at different banks. 

By linking your accounts in BrightUp, our tech wizards can automatically give you a 360 view of your finances without you having to do any of the leg work.

If you’d rather not link your accounts to BrightUp, you can still use the BrightUp Education studio and Valculator features.

To update your account information and notification settings, click on the avatar in the top right of your screen. Once you click on the avatar you will be directed to your profile page, where you can update your personal details, account settings, and notification preferences.

Yodlee, the company BrightUp uses to securely aggregate your financial information, uses state of the art encryption to ensure that nobody expect you can see your financial data. Yodlee works with many of the country’s  leading financial institutions, such as Bank of America and Wells Fargo, so you can be rest assured your data is in reliable and experienced hands. For more information, check out Yodlee’s Data Promise here: https://www.yodlee.com/company/data-promise

Education Studio

General

Yes! The great thing about BrightUp’s Education Studio is that it allows you to access content that is usually hidden behind a paywall at zero cost.

BrightUp’s Education Studio is personalized to your unique interests and specific needs, and does not stop at financial content. BrightUp’s Education Studio delivers content spanning professional life, emotional wellness, personal life, physical wellness, and even local news.

All of our content is vetted to comply with financial regulatory standards and comes from trusted publishers.

The content you find in the BrightUp education studio comes from trusted publishers including: Business Insider, Oprah, Entrepreneur, EconLife, HerMoney, Refinery29, Forbes, CNBC, Inc., Black Enterprise, Investopedia, Kiplinger, Insuranceopedia, Penny Hoarder, DoughRoller, New York Times, Washington Post, Women’s Health, Men’s Health, Fit Men Cook, Shape, The Slate, and The Post and Courier.

Nope! If you’re not the reading-type, that is A-Okay. We also have videos and podcasts for you to explore.