Executive Summary: Eight Ways to Measure Financial Health
The Financial Health Network has developed eight indicators to measure financial health. We believe that these indicators establish a framework for shifting the financial services industry towards a focus on financial health, a focus on improving consumers’ lives.
How Credit Unions Can Win the Gen Y Market
Despite strong member satisfaction and negative consumer sentiment towards banks, credit unions’ market share of key profit drivers like mortgages and credit cards is in the single digits.
Press Release: The Financial Health Network Study Finds $23.4 Billion in Overdraft Fees for Underserved Consumers in 2014
Chicago, IL – December 8, 2015 – Today, the Financial Health Network and Core Innovation Capital (Core) released their fifth annual Underserved Market Size Study. The report, which benefitted from the financial support and strategic input of Morgan Stanley and with additional financial support from the Financial Health Network’S Founding Partner the Ford Foundation, reveals […]
New Book with Chapter from Jennifer Tescher and Rachel Schneider Released
The Financial Health Network’s own Jennifer Tescher and Rachel Schneider have contributed a chapter to the newly released book, What It’s Worth: Strengthening the Financial Futures of Families, Communities and the Nations. Americans everywhere struggle to build strong financial futures for themselves and their families. The book provides a 360-degree view of the financial challenges […]
Wall Street Journal: Baby Boomers underestimate their retirement needs
When it comes to saving for retirement, there’s a huge gap between what Americans say they want and what they’re doing to make it happen. This article looks at savings habits and consumer resliance, with research from the U.S. Financial Diaries, a project of the New York University Financial Access Initiative and CFSI. Read the […]
Press Release: The Financial Solutions Lab at the Center for Financial Services Innovation Identifies Household Cash Flow as the Focus for its First Innovation Challenge
Millions of Americans feel the strains of personal cash flow challenges; points to significant opportunity for innovative solutions powered by technology SAN FRANCISCO–(November 18, 2015)–The Financial Solutions Lab at the Center for Financial Services Innovation (CFSI) today announced that household liquidity, the management and alignment of income and expenses, will be the focus of its […]
“VITA Credit Builder” by Mission Economic Development Agency
In 2010, Mission Economic Development Agency (MEDA) launched its Volunteer Income Tax Assistance (VITA) Credit Builder program with the primary goal to establish or improve credit for low-income Latino immigrants and help them responsibly manage credit over the long term.
American Banker: Don’t Blame Prepaid for the RushCard Glitches
Millions of Americans rely on prepaid debit cards for daily financial management. In light of the recent RushCard glitches and problems created for customers, Jennifer Tescher and John Thompson encourage readers to not blame the prepaid industry. It is an industry that has made significant strides to help consumers manage their financial lives. Instead, let’s […]
In These Times: Utility Costs, Small-Dollar Loans and Financial Health
A housing rights organization in Poughkeepsie, New York, stands with its community against a utility company’s attempt to disconnect low-income family homes. Utility bills, small-dollar loans and financial health intersect. CFSI found that utility bills were the number one reason people were forced to take out short-term loans such as payday loans. Read the full […]
Checking Accounts and the Financially Struggling Majority
Press Release: Financial Solutions Lab Announces Winners of $3 Million Cash Flow Management Competition
Center for Financial Services Innovation and JPMorgan Chase today commit capital and technical assistance to nine innovative fintech organizations solving cash flow management challenge CHICAGO, June 11, 2015 — Today the Financial Solutions Lab (“FinLab”) announced nine financial technology innovators as the winners of its $3 million, inaugural competition aimed at identifying solutions that help […]
American Banker: Summer Reading List for Bankers 2015
Looking for summer reading? American Banker asks industry leaders like Jennifer Tescher for their recommendations. Check out the list today.