We are a supplier member of CUES (Credit Union Executives Society) and individual credit unions across the nation, and we bring financial education to their members and employees. This helps them measure and document consumer financial well-being and health. We are one of the only suppliers in the financial wellness industry who have access to this network.
Credit unions have expressed a demand for financial education geared toward their employees and members. Their employees are better positioned to answer member questions and make referrals when they understand how financial products and services work. Over many years, data from several credit unions have shown a positive correlation between employee financial education and referrals. FFG provides online financial education with FINRA-compliant content and measures changes in knowledge.
The audience can see five times better platforms engagement and up to 70% better aptitude, behavior, and confidence with employees. Seeing the increased use of budgets, financial planning, retirement savings, and benefits was shown clearly. Additionally, there were decreased amounts of debt in these examples, fewer late fees, and less financial stress.
Measuring and tracking the impact of financial well-being for employees is crucial to the overall strategy for credit union members
Based on over 20 years of research, active users can see up to 70% improvement in financial aptitude, behavior, and confidence, the key components to a healthy Financial Fitness SCORE™. In particular, actively engaged users tend to make positive changes in their overall financial fitness levels as measured by the Financial Fitness SCORE™. For example, from CUNA Mutual’s roughly 200,000 plan participants, we see that users who earn a medium or high Financial Fitness SCORE™ tend to have contribution rates for retirement savings of over 250% more than those individuals with a low Financial Fitness SCORE™.