Amazon employees are about to enjoy a new perk: being able to use their company stock to finance home purchases.
According to TechCrunch, Amazon has struck a deal with Better.com to make it easier for employees to purchase a home. Under the terms of the deal, employees in Florida, New York, and Washington State will be able to use their vested equity as down payment collateral. It’s believed the program will expand to other states in time.
Interestingly, the deal does not require an employee to give up their shares, only to pledge their vested equity. The deal also extends to former employees that still have a stake in Amazon.
Amazon is “always looking for opportunities” to improve its employee perks “and better support employees’ mental, physical, and financial wellness,” company spokesperson Brad Glasser told TechCrunch.
“As part of that, we offer a wide-ranging slate of financial benefits, including saving resources, tools to grow financial knowledge, and programs that help employees feel financially sound,” he said. “Eligible employees can access these benefits starting on the first day of their employment with us, regardless of role or location.”
“Financial wellness, mental wellness, and physical wellness are all essential facets of employee health, and they all affect each other,” Glasser added. “For financial wellness, that means providing benefits that aid with both short- and long-term financial success, for employees’ time at Amazon and beyond.”