OK. Terrible 401k match, looking to go online 100% - Store Manager Purpose Financial Employee Review

2.0
18 Feb 2024
Recommend
CEO approval
Business outlook

Pros

Core of store managers are great to work with.

Cons

Corporate management is out of touch with what it takes to run a customer-facing business. DDOs are hired with no knowledge of how to do loans, the core of the business, so store managers can only call other store managers for help. The DDO tells you what to do, but can’t do it themselves. This leads to credibility issues. 401k match is an embarrassing 2.5%. 4% was the lowest I ever saw before working here.

Explore other reviews about Purpose Financial

5.0
18 Aug 2025
Recommend
CEO approval
Business outlook

Pros

The company is really good

Cons

There are no cons in this company

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Purpose Financial Response
5mo
Thank you so much for this fantastic feedback! We're delighted to hear that your internship experience at Purpose Financial in Greenville was so positive. Your enthusiasm and recommendation truly mean a lot to us. We're proud to have provided you with a meaningful learning experience and the opportunity to be part of our team. Interns like you bring fresh perspectives and energy that help us grow and improve every day. We hope your time with us has given you valuable skills and insights as you continue your career journey. We'd love to stay connected with you, and we encourage you to keep an eye out for future opportunities with Purpose Financial. Thank you for being part of our family and for your kind words!
2.0
4 Mar 2026
Recommend
CEO approval
Business outlook

Pros

The people you work with day to day are great. Management at the local level genuinely cares about their teams. The digital side of the business has a lot of potential and there are smart people working on it. There is a future at the company and I think they'll be around in the near future.

Cons

Do not trust the incentive plan. The company published a incentive compensation plan tied to one clear financial metric. They made everyone complete training on it. They published a calculator on the company intranet so you could model your payout. They put a live tracker on the employee homepage that updated throughout the year. Employees watched it climb past the target. The company exceeded the goal by a wide margin. Leadership even gave kudos to everyone for meeting the goal. Then, the day before the payout date - a date that was never even communicated - employees were told that half would be withheld based on conditions that had nothing to do with the published plan. The parent company is Grupo Elektra out of Mexico, and there's a feeling that's where most of these top-down decisions come from. Local leadership doesn't always have the final say, and that creates a culture where "that's above my pay grade" is the default answer to everything. Different groups are siloed, decisions get handed down without explanation, and questioning doesn't change anything because the real decision-maker is always a few levels up, or a different group, or in another country. The digital side of the business drives real revenue but gets treated like an afterthought. Town Halls and leadership focus are dominated by field operations and big project announcements. Common sense initiatives take forever to get prioritized, if they get prioritized at all. For example, a portion of the company's customers are Spanish speakers, the company is literally owned by a Mexican parent company, but it apparently took years to get a Spanish version of the public website done. It wasn't a priority. Hard to believe nobody in the ranks ever brought it up.

2
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Purpose Financial Response
3mo
Thank you for sharing your insights about your experience at Purpose Financial. Your voice matters, and we appreciate your perspective as it can lead to positive changes for everyone. Thank you again for your feedback.
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