Clockout Joins the Jack Henry™ Vendor Integration Program
VIP enables Clockout to integrate with SilverLake System® and Symitar®
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Credit unions have long been dedicated to improving the financial wellness of their members. Unlike traditional banks, credit unions prioritize member-centric services, offering affordable financial products designed to support financial stability and long-term growth. However, in today's economic climate, many members are living paycheck to paycheck, struggling with liquidity between pay periods.
In fact, 35% of workers report that they can’t cover an expense between pay periods. With rising living costs and unexpected expenses, financial stress is becoming a widespread issue. This is where Earned Wage Access (EWA) comes in—a tool that aligns directly with a credit union’s mission by providing low-cost liquidity when members need it most.
By offering on-demand pay, credit unions can:
- Support member financial wellness
- Reduce reliance on predatory financial products
- Increase loyalty and retention
- Capture more direct deposits and boost core deposits
Millions of Americans live paycheck to paycheck, relying on costly financial solutions such as overdrafts, payday loans, and credit cards to cover unexpected expenses. Credit unions have the unique opportunity to step in and provide a better, lower-cost alternative.
Without access to flexible liquidity options, members often resort to:
- High-interest payday loans
- Costly overdraft fees
- Credit card debt with high APRs
By offering Earned Wage Access (EWA), credit unions can provide immediate, low-cost access to wages, eliminating the need for predatory alternatives and reinforcing their role as financial wellness advocates.
EWA eliminates the need for members to turn to high-interest payday lenders, which often trap borrowers in cycles of debt. Members can access their earned wages early instead of relying on costly short-term loans or overdraft fees that only worsen financial stress.
🔹 Statistic: Nearly 12 million Americans use payday loans annually, paying billions in fees that credit unions can help them avoid.
A core mission of every credit union is to support member financial wellness. EWA gives members the ability to manage their income on their own terms, reducing financial anxiety and helping them plan better.
🔹 Statistic: 79% of workers say access to wages before payday would help them cover expenses without financial hardship.
Credit union members who feel financially supported are less likely to switch institutions. Providing EWA gives members a strong reason to stay loyal, reducing churn and reinforcing the value of membership.
🔹 Statistic: Financial institutions like Chime that offer on-demand pay report a higher retention rate among their customers.
Younger generations demand financial flexibility, and EWA is one of the most requested banking features among Millennials and Gen Z. Credit unions that offer EWA appeal directly to younger demographics, ensuring future membership growth.
🔹 Statistic: 88% of Millennials and Gen Z value early access to their wages as a major factor in their banking decisions.
While EWA is a powerful tool for financial wellness, it is also a strategic advantage for credit unions looking to increase direct deposit capture, boost core deposits, and generate non-interest revenue.
Offering EWA gives members a compelling reason to set up their direct deposit with the credit union. When members rely on their credit union for on-demand pay, they are far more likely to keep their direct deposits in place, rather than switching to fintechs like Chime or CashApp.
🔹 Impact: Increased deposit volume and long-term account engagement.
When members direct deposit their paychecks to access EWA, the credit union benefits from higher deposit balances, improving liquidity and lending capacity.
🔹 Impact: Stronger capital reserves to support lending and investment growth.
EWA can also serve as a new revenue stream for credit unions through small transaction fees for instant transfers, while still offering free standard transfers. This provides a sustainable, transparent alternative to overdraft fees.
🔹 Impact: Reliable non-interest income that benefits both the credit union and its members.
Unlike other financial products that require significant IT development, Clockout makes EWA implementation seamless.
Clockout integrates directly into credit unions' digital banking platforms via:
✅ Q2
✅ Jack Henry
✅ Fiserv
This means no operational disruption—just a plug-and-play solution that can be deployed in as little as 10 days.
Members experience EWA directly within their credit union's mobile app, without needing to rely on third-party fintechs.
Clockout is built to meet regulatory and compliance requirements, ensuring safe and responsible access to earned wages.
🔹 Upcoming Legislation: The Earned Wage Access Protection Act is set to establish clear guidelines for EWA, making it an even more attractive solution for financial institutions.
The financial industry is evolving, and credit unions that prioritize innovation will maintain a competitive edge. Earned Wage Access is no longer just a “nice-to-have”—it’s a must-have.
- Enhance financial wellness for members
- Capture direct deposits & grow core deposits
- Retain members & attract younger demographics
- Generate non-interest revenue
- Compete with fintech disruptors like Chime & CashApp
Ready to empower your members and future-proof your credit union?
📅 Schedule a demo with Clockout today to learn how your credit union can launch an Earned Wage Access program in just 10 days.
Credit unions exist to serve their members, and Earned Wage Access is one of the most impactful ways to do so. By offering on-demand pay, credit unions can help members avoid financial hardship, retain direct deposits, and boost loyalty—all while ensuring sustainable growth for the institution.
The future of credit union banking is digital, member-centric, and built on financial wellness. Will your credit union lead the way?
