Loans-at-Work Now Available to City Employees from BMG Money
A voluntary loan program to help employees with increased health care expenses and unexpected or emergency expenses has been approved by the City Commission and is available to City employees through BMG Money.The firm is a licensed Miami finance company owned by the shareholders of Banco BMG, the largest privately-held bank in Brazil.
The vendor's guidelines for loans are highlighted below.
- You apply directly with BMG (using a City access code) through their secure website www.loansatwork.com
- BMG will verify your employment with the City of Fort Lauderdale
- A loan of up to $5,000 (limited to one loan per household) may be awarded as long as the applicant has been employed with the City for at least a year, are 18 years of age, and are not in bankruptcy
- The loan process takes a few business days and the payback is arranged by BMG through payroll deductions out of your City paycheck for up to two years
- BMG fixed loan ratesare comparable to a cash advance on a credit card
For further information you can contact the Benefits Office at ext 5160.