Leading Grocer Coborn's Inc. Joins Forces With DailyPay to Provide a Critical Financial Wellness Benefit to Its Employees

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 provider of on-demand pay. Coborn's employees now have access to their pay as they earn it and are able to pay bills, spend, save, or invest on their own schedule.

Coborn's is among the latest grocer to implement on-demand pay benefits, as one in eight grocery workers in America have access to DailyPay, according to DailyPay research.

Companies leveraging DailyPay as part of a financial wellness benefits package are able to hire up to 52% faster and retain employees 73% longer, according to a study commissioned by DailyPay. The benefit has become sought-after because, with the power of choice and control over their pay, employees are able to avoid payday loans or paying 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 expanded from a one-room produce market in Sauk Rapids, MN into a regional employee-owned grocery retailer employing nearly 9,300 employees and operating 66 grocery stores. The company operates more than 130 various retail and business support units across Minnesota, Wisconsin, Michigan, North Dakota, and South Dakota.

"As recruitment and retention of employees becomes more challenging in today's competitive workplace, the addition of the DailyPay benefit for our employees is an important enhancement to our benefits package, said Dave Meyer, President and Chief Operating Officer for Coborn's, Inc. He added, "We have been very impressed with the adoption rate at which our employees are taking advantage of this new program, which clearly indicates the value of DailyPay as a benefit and that our employees are enjoying and taking advantage of the option to be paid more quickly after working their shift."

About Coborn's Inc.
St. Cloud, Minnesota-based Coborn's, Inc. is a 100-year-old employee-owned grocery retailer 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 owns fuel, liquor and pharmacy locations. To support its 130 various 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 their Retailer of the Year.

About DailyPay
DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system. Partnering with America's best-in-class employers, including Dollar Tree, Berkshire Hathaway, and Adecco. DailyPay is the recognized gold standard in on-demand pay. Through its massive data network, proprietary funding model, and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants, and financial institutions. DailyPay is building technology and the mindset to reimagine the way money moves, from the moment work starts. DailyPay is headquartered in New York City, with operations based in Minneapolis. For more information, visit www.dailypay.com/press.

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SOURCE DailyPay