Frugal Solutions
The Financial Solutions Lab is showing how traditional financial organizations can co-create with nonprofits and entrepreneurs to improve the financial health of all Americans. Read the article on Stanford Social Innovation Review >>
PSCU Announces Findings of “How Credit Unions Can Become Financial Health Providers” Study
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 […]
This Is Exactly How Financial Stress Affects Your Body
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 […]
How Measurement Can Put Teeth Behind Stakeholder Capitalism
The new commitment to Stakeholder Capitalism Metrics by the World Economic Forum is the first step on a journey to improving the lives of all stakeholders - including customers, employees, and communities.
Getting “WISER” on Addressing Unmet Needs Among Independent Workers
FSL provided WISER a $75,000 general operating grant to ensure it can continue to support to independent workers in rural Appalachia.
Why banks are rewarding customers for exercising
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 >>
Two Simple (And Unusual) Ways To Help American Families Build Emergency Savings
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 […]
The GameStop Stock Frenzy Is Turning Into A Cautionary Tale For Fintech
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 U.S. Financial Health Pulse: A Roadmap for Recovery
As vaccines roll out across the country, the Biden administration is considering bold policies to help struggling households, businesses, and communities recover from the health and economic impacts of the COVID-19 pandemic. For these efforts to be successful, the new administration – along with businesses, employers, and other stakeholders –…
Measurement matters in improving financial health
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 […]
Breaking Silos and Challenging Inequities in America: An Interview with Jennifer Tescher
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 >>