Moments of Progress: Derrome

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When Derrome was looking for a new online bank, he didn’t expect to find one that would fundamentally change the way he thinks about money—then he discovered Varo. Now using the full line of products and features Varo has to offer, Derrome is working towards achieving his money goals one step at a time, and sharing his money progress with the kids he coaches in baseball along the way. 

Working multiple jobs can be challenging, especially when waiting for money to hit your account. With Varo’s up to 2 day early payday feature¹, Derrome feels like the bank is looking out for him and helping him feel less stressed.

“I was able to get my direct deposit two days earlier,” Derrome says, “and that really benefited me.”

Though he works mainly in the hospitality industry, Derrome has a soft spot for baseball. Growing up in New York and being a Mets fan, he wanted to bring some of that with him when he moved to Los Angeles so he started coaching kids baseball.

“I love coaching baseball,” he says, “and I love providing kids that inspiration.”

But baseball can be an expensive sport, especially with kids who always want the newest thing. Derrome realized there was an opportunity to teach these kids more than how to hit a home run. As he himself has been saving more with Varo, he’s also been making sure the kids learn about the value of saving from an early age. 

“As soon as you get your birthday money, don't spend it now,” he tells them, “if you do want that new glove or that new bat, you might have to save a little bit.”

Even though Derrome feels like his family taught him about the need to save money, it can still be hard to get started—especially when you don’t have the right tools. With Varo’s Savings Account Derrome tracks his progress directly in the app, and unlocks 5.00% APY (Annual Percentage Yield)², which can make saving feel a lot easier.

“I'm doing what I need to do, but I'm also getting rewarded for it,” he says, “it all goes back into my business or even my personal life, and that helps out a lot.”

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Want to hear from more of our members? Learn how Varo member Tracey was able to get a new car thanks to the Varo Believe Card.

^{Testimonials reflect real life experiences of customers who have used Varo Believe. The results apply to the individual’s circumstances, including their specific credit history and activity. Results will vary and may not be representative of the experience of others.} 

^{1 We give you access to your direct deposits from employer and government payers on the day we receive them, which is typically up to 2 days earlier than your scheduled pay date.}

^{2 Start earning 3.00% Savings APY2, then qualify to earn 5.00% APY on your balance up to $5,000.00 for next month by meeting these two requirements this month:1) Receive direct deposit(s) into your Varo Bank or Savings Account, totaling $1,000 or more; and 2) End the month with a positive balance in both your Varo Bank Account and Savings Account. You’ll continue to earn 3.00% APY on any additional balance above $5,000.00.  Be aware that interest is paid in whole cents only. See more details on how we calculate interest here.} 

^{Annual Percentage Yields (APY) are accurate as of March 20, 2024. Rates may change at any time without prior notice, before or after the account is opened. The requirements must be met within the Qualifying Period begins on the first calendar day of the month and ends at close of business (4:25 pm MT) on the last business day of the month. Meet the requirements in the current month to qualify to earn 5.00% APY for the following month.}