5 Myths About High-Yield Savings Accounts During COVID-19
Last year’s savings rates of 2% and higher have come and gone, but that doesn’t mean high-yield savings accounts disappeared. “There are high-yield savings accounts out there, but it’s all relative,” says Mike Schenk, chief economist for the Credit Union National Association. Read the Article >>
How To Cope If The Covid-19 Pandemic Has Stretched Your Finances To The Limit
Americans say they’re saving money. Retail spending is up. Low interest rates have sparked the housing market and the stock market has rebounded from its initial pandemic dive. Read the Article >>
Grandma Wants Digital Banking Too — Don’t Ignore Her Needs
Banks that speak about digitizing often focus on attracting Generation Z and millennials. While these groups are important, another crucial demographic is being left out of the conversation: senior citizens. Read the Article >>
How Financial Stress Can Impact the Workforce
Financial stress usually impacts financial health. It matters as financial stress can be devastating for individuals and employers, writes Matt Bahl, vice president, and head of workplace, Financial Health Network. Read the Article >>
Risky Business: Pandemic Underscores How Strong Personal Financial Health Can Build Small Business Resilience
It’s critical that small businesses — especially those in underserved communities — get support from government and philanthropies to rebuild, and that owners also receive personal financial health support so they can build resilience over time and weather future financial shocks.
Building Cross-Sector Partnerships to Advance Financial Health Innovation
The challenges posed by deepening financial insecurity are having a profound and long-term impact on individuals and families, and solutions will require cross-sector collaboration and partnership. To support these solutions, the Financial Solutions Lab intentionally recruited members to its new Advisory Council who bring a vast range of experience and backgrounds, from organizational strategy to […]
It’s the Organizational Siloes, Not Just the IT Stacks, that Are Sidelining Innovation
Since consumers clearly want the personal finance tools developed by fintechs and other innovators, why are banks and credit unions not offering them widely? The core challenge is to get fintech apps to talk with banks’ existing technology stacks and build a shared business case across the organization.
Workplace and Healthcare Leaders Join the Financial Health Network
We’re excited to welcome two experts to the team that will drive workplace and healthcare financial health strategies forward: Matt Bahl and Adrienne White-Faines.
Diverse Compensation Plans Are a Win-Win for All
Despite a recent Gallup poll that found only 55% of Americans reported owning stock, a Rutgers study showed that most Americans report they would prefer to work for a company that gives them a stake in the business. Read the Article >>
It’s Time to Tie Bank Profits to Customers’ Financial Health
America’s current financial system is essentially broken for the many working Americans who live on the edge financially. Mismatched incentives are at the heart of the problem. One has only to look at the sad history of payday and car title loans, subprime mortgages, or bank overdraft “protection” schemes for examples of financial products and […]
Prudential Joins Effort To Fund Fintechs Fighting Inequality
Prudential Financial is dedicating $10 million to fintech oriented towards solving intransigent financial and social inequality in the U.S. Read the Article on Financial Advisor Magazine >>
Have banks, fintechs compete to bring banking services to post offices
Banking services have long been offered national post offices in other countries, making basic account, savings and payment services widely available to populations who might not otherwise have access to them. Read the Article >>