During this past year, we’ve heard countless stories about workers having to take time off or quit their jobs to tend to a serious illness or care for loved ones throughout the pandemic.
One year into the COVID-19 global pandemic, new data from the U.S. Financial Health Pulse shows that Black and Latinx communities are continuing to disproportionately struggle amidst the ongoing public health crisis, and that financial health disparities appear to be widening by race and ethnicity as a result of the ongoing pandemic.
President Joe Biden’s $1.9 trillion coronavirus relief plan would provide a third round of federal stimulus checks to millions of Americans. Yet a new agreement between Mr. Biden and moderate Democratic Senators would limit the number of households that would qualify for the $1,400 checks, cutting off millions of other Americans who had been hoping for the stimulus money. […]
Millions of “financially vulnerable” Americans have grown even more vulnerable during COVID-19, with lower-income households more likely to have experienced declines in their financial well-being, according to new data released Thursday.
In continued support of its corporate philanthropic cause of financial well-being, PSCU, the nation’s premier payments credit union service organization (CUSO), today announced the findings of a new study, “How Credit Unions Can Become Financial Health Providers,” that assessed the financial health of credit union members and employees against a national benchmark. The study was […]
Lori, a New York City-based entrepreneur, is no stranger to financial uncertainty given her line of work. But between the monetary sacrifices involved in starting a business, high cost of city living, and the fiscal consequences of the pandemic, financial stress began to take a toll, she tells Bustle. But it’s not just the economic […]
There is evidence of a correlation between physical and financial health, according to the 2019 U.S. Financial Health Pulse trends report from the Financial Health Network, a research organization formerly known as the Center for Financial Services Innovation. Read the Article >>
The importance of emergency savings is well-documented. According to research published in January 2020 by Bankrate, four out of 10 Americans would need to borrow money to cover a $1,000 emergency expense. Or, to put it another way, many low-income American families lack the savings to cover one month’s worth of living expenses. Read the […]
When a crusading group of retail traders decided last week to bid up the price of GameStop GME shares, the target was Wall Street. Empowered by Reddit and the commission-free trades of Robinhood’s online trading app, they succeeded in putting the squeeze on hedge funds that had shorted GameStop. Read the full article on Forbes […]
The majority of people in America expect their primary financial institutions to help them improve their financial health, yet only 14% “agree strongly” that they are actually receiving this service. This gap in expectations is a prime opportunity for credit unions to be on the forefront of financial health and to compete effectively by addressing […]
The founder and CEO of the Financial Health Network discusses COVID’s impact on communities of color, Financial Health Network’s projects for 2021, and her take on CFI’s strategic priorities. Read the Interview >>
54% of Americans Worry About Expenses Tied to Coronavirus—Here’s How to Cut Medical Costs If You Get Sick
Over half, 54%, of Americans say they’re not financially prepared to handle a contagious disease like coronavirus that may limit their ability to work for a few weeks, according to a recent survey conducted on behalf of Prudential of just over 2,000 U.S. adults. Read the Article >>