Leaving a Legacy: The Secret to Building a Company Worth Remembering

Leaving a Legacy: The Secret to Building a Company Worth Remembering

Leaving a Legacy: The Secret to Building a Company Worth Remembering

Leaving a Legacy: The Secret to Building a Company Worth Remembering

“Lots of companies don’t succeed over time. What do they fundamentally do wrong? They usually miss the future.”- Larry Page, Google

  Building a financially successful business is a good goal. Building a company that stands the test of time is a great goal. Building a company that leaves a positive legacy and is a company worth remembering for years to come is an even greater goal. 

A strong culture is the foundation for creating and leaving a legacy, as well as maintaining and growing the company’s financial success. Achieving this holy grail in business requires building a strong company culture. So how do you accomplish that? 

Defining Company Culture

Company culture is made up of its people and the surrounding environment, which has the power to support its people as they grow and help them thrive. When the organization creates this supportive environment, employees will rise to the occasion and co-create a company culture that will yield long-term financial success. 

At the core of a supportive environment is the ability to provide the tools and resources needed to aid your team’s personal well-being. Elevating your team’s well-being will unlock their greatest potential, reduce stress, boost their performance, and allow each employee to grow. 

The opposite of growth is apathy at best, and stress, depression, and anxiety at worst. It goes without saying that the latter is not conducive to a productive work environment, much less building a company worth remembering. However, many companies miss the mark when it comes to providing employees with the benefits, tools, and resources they need to achieve personal success.  

Solve Today’s Challenges First

Why aren’t your employees thriving? As President of FinFit, I believe in this guiding business principle: you must solve today’s challenges before focusing on tomorrow’s. For many organizations, it’s a challenge to answer the question “why aren’t our employees thriving?” Let’s address the challenge. What is the fundamental problem? What are the roadblocks standing in the way of employees’ success and well-being? The answer I continually come up with is that employees are financially stressed. They are not in a position of financial health, and they do not have the resources available to solve their financial challenges. 

Your employees are suffering from cashflow challenges (whether you know about such or acknowledge such does not change the problem itself). Cashflow challenges can be temporary, like not having funds available when they need to pay bills or required expenses (perhaps payday doesn’t align well with due dates). Often the financial challenge is greater and cannot be solved without financial assistance outside of the employee’s standard incoming funds. Both situations are stressful and could lead to further financial distress if a solution is not present. This financial stress causes employees to be preoccupied at work, diminishing their productivity, energy, enthusiasm and overall enjoyment at work and in their personal life. 

58% of employees have less than $1,000 saved. 63% of millennials – the new core of the American workforce – would struggle to cover an unexpected $500 expense. 43 million Americans (one-sixth of the U.S. population older than age 18) currently carry a federal student loan and owe more than $1.5 trillion in federal student loan debt. 530,000 families turn to bankruptcy each year due to medical bills they can’t pay. 60% of investors ages 18 to 34 have already withdrawn money from their retirement account. The list of financial challenges goes on, and the economic crisis continues to grow. 

It is our job as organizational leaders to help our employees overcome these financial struggles by giving them access to resources and solutions to empower them to establish financial stability. In the absence of solutions, our employees will continue to suffer (and so will our organizations). If we don’t help them solve the problem, they will be forced into making a variety of detrimental choices that could include the use of predatory credit solutions, theft, raiding their retirement accounts (if available), credit card advances (if available) or other poor (generally costly) financial services Banks don’t engage in short-term cashflow issues, and many American workers lack access to the credit privileges afforded to others. Oftentimes, being forced into one of these less than ideal solutions is the starting point of a complete financial collapse. When no plausible solutions are available to the employee, they spiral into financial destruction and become a distracted team member (at best) or a lost team member.

How to Help Your Employees Thrive

There are a few plausible solutions that will help solve their cashflow dilemmas that are affordable, responsible, efficient and prideful. You, as an employer, are in a unique position to do two things: 
  1. Care for your employees TODAY by providing plausible, real-world solutions that will help the employees solve their immediate financial challenges
  2. Offer them access to resources and activities that will allow them to better themselves through education and help prepare them to handle future financial challenges (developing savings accounts, rainy day funds, responsible credit relationships, banking services, budget plans, improved spending habits and much more).
One of the resources that you can provide is access to effective credit resources to solve today’s challenges. Extending this benefit to employees is a necessary element of a comprehensive financial wellness program. Beyond compensation, financial wellness is a holistic support system provided to employees to ensure that they are able to thrive and establish overall financial health and stability. Contrary to the myths surrounding financial wellness, these benefits have a proven track-record to help employees reduce stress and anxiety, while boosting enthusiasm, productivity and job performance. As the affordability crisis continues to impact employees across generations, many are turning to their employers to provide guidance during tough times at home and for general support

Organizations that are willing to invest in their employees and their culture will reap the benefits. The return will impact your bottom line (to the tune of 3:1) and most importantly, create a community of people that feel supported by their employer and are confident that they can handle financial challenges. Creating and nurturing your employee community is the foundation of a company that will leave a positive legacy. Be a company that’s worth remembering. 

David Kilby has been president of FinFit since it was founded in 2008. He has grown the company from a single idea into the nation’s leading Financial Wellness Benefit platform, servicing over 125,000 clients. Prior to FinFit, David led a multimillion dollar financial holding company where he was inspired to find ways to help employees improve their financial health. He is committed to helping employees succeed today, and prepare to live healthier, more productive, financially stable lives.

Get in touch with him – he’d love to talk to you about your company, your employees and how he can help.
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Kristen Stringer

Vice President of Banking & Credit Services

Kristen Stringer came to FinFit in 2010 and has been instrumental in the development of the proprietary FinFit systems and processes. Kristen served as FinFit’s Director of Operations for 7 years before being promoted to Vice President of Banking and Credit Services. She is responsible for managing strategic partners including the Celtic Bank and Ares credit relationships, in addition to establishing new relationships in the sponsor bank market. Kristen also oversees the underwriting and credit areas and is involved with development of underwriting models and new credit products, expansion of credit offerings, auditing and compliance, and the overall performance of credit products.

Kristen holds a bachelor’s degree in business with a concentration in finance, and is currently pursuing her MBA at Old Dominion University. She began her career at HSBC Bank in the customer service and collections departments and later was responsible for process improvement and project management. She was selected to lead numerous special projects including a foreclosure avoidance project that liquidated over $2 million dollars in less than three months. In her spare time, Kristen enjoys photography and is an avid sports fan.

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David Kilby

President/CEO

David Kilby has been President/CEO of FinFit since its founding in 2008. He has grown the company from a single idea into the nation’s largest, most comprehensive Financial Wellness Benefit platform. Chosen as one of the top 100 companies to work for three years in a row (2014-16), FinFit pursues a mission of changing employees lives one employee at a time. Prior to FinFit, David led a multi-million-dollar financial institution holding company, where he was inspired to find a way to help employees get more financially fit. At KPMG Peat Marwick, Norfolk, Virginia, he worked with a variety of public and private organizations in a variety of industries including automotive, chemical manufacturing, consumer finance, managed health care, retail, real estate and wholesale organizations.

David received his CPA designation in the Commonwealth of Virginia in 1991 and graduated from Old Dominion University. Today he serves as the President of the Ability Center of Virginia, a charity devoted to helping children and adults with disabilities serve productive lives. He is also an active member with the Young Presidents Organization, an active Board Member of Old Dominion University Business School, a member of the American Institute of Certified Public Accountants and Virginia Society of Certified Public Accountants.

Jennifer Creech

Senior Vice President of Strategic Partnerships

Jennifer Creech brings more than 20 years of sales and marketing experience to FinFit. Jennifer is accountable for the overall sales initiatives, client acquisition and strategic relationships. She is also responsible for client retention strategies and the development and management of sales agents.

Jennifer previously served as VP/Director of Marketing at Bank of Hampton Roads/Hampton Roads Bankshares, Inc. As an officer of the bank, she was responsible for the development and implementation of the bank’s sales and marketing programs and was a member of the Retail Leadership Committee to expand the retail banking division.

Jennifer is currently the President of It’s A Surprise and offers support to various community charities.

Kristen Gaskins

Director of Client Engagement and Awareness

Kristen Gaskins brings more than 20 years of sales and marketing experience to her role as Director of Client Engagement and Awareness. She leads a dynamic team of onboarding specialists whose focus is ensuring employers understand the benefits of FinFit and are ready to roll it out to their employees. She works closely with the FinFit marketing department to craft and measure the omnichannel onboarding experience, working to retain and engage existing partners, clients and employees.

She’s a Virginia Beach native who enjoys travel and cooking, just not at the same time.

Cliff Kiel

Senior Vice President, Sales

Cliff Kiel brings almost thirty years of industry experience to the sales team. He joined the company in 2017 to oversee new revenue channels for the business. Cliff is based in Atlanta, Georgia, overseeing sales and business-to-business prospect marketing. Cliff leads the broker and employer growth strategies for the company.

Prior to his tenure with FinFit, Cliff served four years with Purchasing Power as Vice President, and General Sales Manager. He was instrumental in onboarding many Fortune 100 clients. Under his tenure leading the sales team, the company's revenue doubled and he recorded record sales years for the organization. Prior to Purchasing Power, Cliff worked for leading health and welfare companies such as MetLife, United HealthCare, CVS Caremark, Cigna, Value Options, and Alere.

He earned his BA degree from the State University of New York at Oneonta, and his Certificate in Healthcare Management from the State University California, Irvine.

Cliff has been a featured speaker at the annual Voluntary Benefits Conference and many other leading conferences.

Paul Grosch

Chief Technology Officer

Paul Grosch is a seasoned technology executive with over 20 years of experience growing business through software development, infrastructure management, data analytics and customer support. He brings a wealth of experience with strengths in areas such as technology process standardization, measurement and disciplined innovation. Paul has worked across a broad spectrum of industries including construction, retail, hospitality, financial services and Department of Defense.

Paul joined the FinFit team in Q3 2018. Prior to joining FinFit, Paul served as the Vice President of Information Technology for Gold Key Hotels and Resorts, the largest and most demanding hospitality developer, owner and operator in the Mid-Atlantic. Paul led the technology team through a series of rapid growth, innovation and exit cycles. This included the $168MM sale of Gold Key Resorts in and recent sale of oceanfront Hilton properties valued over $87MM. Paul has also led state of the art development projects within Lockheed Martin and the Department of Defense.

Paul Grosch obtained his Bachelor and Master of Science in Computer Science from Old Dominion University. He holds an MBA from University of Virginia Darden School of Business. He is a Certified Project Management Professional (PMP) and Certified IT Service Management Expert (ITIL).

Pete Ostberg

Chief Operating Officer

Pete Ostberg joined FinFit in 2017 after spending 20 years in the payroll industry. Pete is responsible for overseeing all business operations, ensuring FinFit has effective operational procedures in place. He also conducts market research and analyses to strengthen FinFit’s product portfolio by adding new and exciting offerings to help employees become more financially stable. Pete is focused on growing the number of valued partners and ensuring the successful implementation of FinFit with each one.

Prior to FinFit, Pete worked at Paychex in a variety of roles. He has in-depth knowledge of tax payments, payroll, insurance, operations, business analysis, and product management. During his tenure there, he helped to strategically position new products as they were brought to the market. Pete has a degree in Political Science from SUNY Geneseo and in his spare time, he enjoys spending time with family and traveling.

David Hockstad

Senior Data & Financial Analyst

David Hockstad came to FinFit in 2015 and has led the development of FinFit’s custom underwriting algorithms and employee assessment questionnaire. As Senior Data and Financial Analyst, David is responsible for identifying portfolio trends and KPIs, implementing business intelligence tools, creating visual ad hoc reports, and enhancing predictive modeling capabilities. David also assists various departments in finding actionable insights in their data, be it understanding successful company demographics, employee contact methods, or customer propensity to borrow.

David obtained his Bachelor’s from Lee University. After graduating in 2012, he began his career at PNC Bank as a commercial underwriter where he was responsible for optimizing business cashflow and underwriting loans.

Kim Miller

Director of Marketing

Kim Miller joined FinFit in early 2018 to build their marketing department, re-energize the brand and establish FinFit as the industry expert. She is an experienced marketing director with a demonstrated history of developing brand identities, increasing brand awareness and creating optimal customer experiences. Skilled in strategic product development, content creation, user experience, cross-channel marketing and customer engagement, she is passionate about moving the business forward and establishing FinFit as the industry leader.

She started her career at Brunner, a national advertising agency, helping to create a digital footprint in the emerging space. She supported a variety of brands including Consol Energy, Cub Cadet, Longhorn, Aquafresh, WesBanco and Huffy, and worked in every discipline from project and account management to copywriting to site architecture.

She moved to Virginia in 2010 and joined Dominion Enterprises, working in the marine, automotive and powersports divisions during her tenure. She helped build and grow their marketing departments, create brand identities, develop sales processes and tracking capabilities, and drive the product development for both B2B and B2C audiences.

Bill Hall

Chief Compliance Officer

Bill Hall serves as Compliance Officer for FinFit and is responsible for identifying, assessing, mitigating and monitoring all legal, regulatory, operational and reputational risks for the company.

Bill brings extensive legal and regulatory compliance experience to FinFit, primarily in the financial services industry. After beginning his legal career as an Associate Attorney with Womble, Carlyle, Sandridge and Rice in Winston-Salem, NC, Bill had a 19-year career in the Law Department at United Guaranty Corporation in Greensboro, NC. At United Guaranty, Bill served as Vice President and Associate General Counsel, as well as International Group General Counsel.

Bill earned a B.A. degree, cum laude, from Davidson College and a J.D. degree, with honors, from the University of North Carolina School of Law. Bill is licensed as an attorney in the state of North Carolina.

Brooke Saunders

Director of Human Resources

Brooke joined FinFit in early 2013 and focuses on key areas such as Talent Management, Employee Development and Training, Benefits, Payroll and Compensation, Business Strategy, Employee Relations and developing programs to increase employee engagement.

Brooke is a graduate of Old Dominion University and started her Human Resources Career at Robert Half International as a Staffing Manager in 2002. She worked there for 3 years and recruited, hired, interviewed, and placed administrative workers into office positions for her clients.

Brooke has years of experience in the hospitality field, where she served as both Human Resources Director and Resort Marketing Recruiter for large organizations such as Gold Key Resorts and LTD Limited. Her skills included the development of effective recruiting programs, handling all associate relations and counseling, tracking all worker’s compensation claims and other various HR functions to support the HR Manager.

Matt Fahy

Chief Financial Officer

Matthew Fahy serves as Chief Financial Officer for FinFit, with responsibility for the overall financial management of the company, including accounting, financial planning and analysis, credit and treasury functions and tax.

Matt brings extensive financial and operations management experience to FinFit, primarily in the technology industry. Before joining FinFit, Matt served as CFO and Executive Vice President of Global Services for AgilQuest Corporation, a Workplace Management Enterprise SaaS company. Prior to that, he served as CFO for Public Access Technologies, Inc. and QualityClick.com Inc. and oversaw the rapid growth of these Internet companies. Matt was also a Senior Manager for KPMG in the Information, Communications and Entertainment practice serving public and private media, entertainment and technology clients. Matt began his accounting career with Paul Scherer & Company, a boutique CPA firm in New York City serving Advanced Publications and Newhouse Broadcasting Corp., the largest privately held media company in the world.

Matt is a graduate of The Ohio State University with a Bachelor of Science in Business Administration, specializing in Accounting & MIS. Matt received his CPA designation from the state of Ohio in 1993.

FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval.

Residents of Colorado, Connecticut, Iowa, Vermont, West Virginia, Nevada and Massachusetts are not eligible for loans.

Nothing on this website constitutes an offer or solicitation for loan products to residents of those states.