Portfolio company MoneyLion, America’s most powerful financial membership, announced a multi-year partnership with Team Penske, beginning with the 2019 NASCAR season. In celebration, MoneyLion has committed to providing racing fans across the country with 5% cashback on tickets to the track, 5% cashback on NASCAR.com purchases and 5% cashback on all at-track purchases.
MoneyLion’s partnership with Team Penske goes beyond the track: MoneyLion’s new employee financial wellness program, MoneyLion Bonus, is designed to help thousands of Penske Corporation employees save money and manage their finances. The program can help employees save an average of $887 a year by eliminating bank fees, and it reduces the cost of borrowing, provides financial matching contributions of up to $50, and provides rewards redeemable for gift cards at major retailers, all while working to improve employees’ individual credit scores. Through this first-of-its-kind partnership, Team Penske and MoneyLion share a similar goal of inspiring other businesses and corporations across the country to invest in their employees’ financial well-being.