NEW YORK, April 7, 2022 /PRNewswire/ — Coborn’s Inc. (Coborn’s), a leading independent grocer in the Midwest, today announced its partnership with DailyPay, the leading on-demand payment provider. Coborn employees now have access to their pay as they earn it and can pay bills, spend, save or invest on their own schedule.
Coborn’s is one of the latest grocers to introduce on-demand benefits, as one in eight grocery store employees in America has access to DailyPay, according to research from DailyPay.
According to research commissioned by DailyPay, businesses that use DailyPay as part of a financial wellness benefits package are able to hire up to 52% faster and retain employees 73% longer . The benefit has become sought after because, with the power to choose and control their compensation, employees can avoid payday loans or pay overdraft fees to make ends meet.
Since its humble beginnings in 1921, Coborn’s, Inc. has been a leader in the grocery industry. The company has moved from a one-piece product market to Sauk Rapids, MN into an employee-owned regional grocery store employing nearly 9,300 employees and operating 66 grocery stores. The company operates more than 130 retail and business support units across Minnesota, Wisconsin, Michigan, North Dakotaand South Dakota.
“As recruiting and retaining employees become more difficult in today’s competitive workplace, the addition of the DailyPay benefit for our employees is a significant enhancement to our benefits package,” said David MeyerPresident and COO of Coborn’s, Inc. He added, “We have been very impressed with the rate of adoption our employees are experiencing with this new program, which clearly indicates the value of DailyPay as a benefit. and that our employees appreciate and take advantage of the option to get paid sooner after working their shift.”
About Coborn’s Inc.
St. Cloud, MinnesotaCoborn’s, Inc. is a century-old employee-owned grocery store with nearly 9,300 employees and 66 grocery stores across Minnesota, North Dakota, South Dakota, Wisconsin and Michigan under the Coborn’s, Cash Wise Foods, Marketplace Foods and Hornbacher’s banners. Coborn’s, Inc. also has fuel, alcohol, and pharmacy locations. To support its 130 different retail business units, Coborn’s, Inc. operates its own central bakery, dry cleaning facility and grocery distribution center. In 2021, Coborn’s, Inc. was recognized by the Shelby Report Midwest as its Retailer of the Year.
About Daily Pay
DailyPay, Inc., powered by its cutting-edge technology platform, is on a mission to build a new financial system. Partnership with America’s top employers including Dollar Tree, Berkshire Hathaway and Adecco. DailyPay is the recognized benchmark for on-demand payment. With its vast data network, proprietary funding model and connections to over 6,000 banking system endpoints, DailyPay ensures that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay develops the technology and the mindset to reinvent the way money moves, from the start of work. DailyPay is headquartered in New York Citywith operations based in Minneapolis. For more information, visit www.dailypay.com/press.
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