True Cost of a Loan: Oportun Loans are One-Sixth the Cost of Alternatives
Recent analysis from the Financial Health Network found that Oportun installment loans cost significantly less over the life of the loan, compared with other loan products available to similar borrowers for near prime consumers or consumers without a credit score. The Financial Health Network’s proprietary True Cost of a Loan study, which reflects total costs to repay a loan fully, revealed that some competitor products will charge you more in interest and fees than the actual amount borrowed. In comparing those products to Oportun installment loans, Financial Health Network found that others charge an average of 6 times more than Oportun does, and in some cases as much as 24 times more. The True Cost of a Loan considers what goes into various types of loan products and provides ways to understand loan affordability.
Building a Financially Resilient Workforce
Nearly two-thirds of workers say it’s becoming more difficult to keep up with financial obligations. As government stimulus programs end, how can organizations help those who are financially vulnerable build a stronger financial future? Watch Rob Levy, Vice President, Research and Measurement at the Financial Health Network, and Leston Welsh, Head of Business Segments for Prudential Group Insurance, discuss the latest reports from their respective organizations underscoring key needs and trends at a national level. Plus, learn what these findings emphasize for employers, along with solutions to support financial health for all employees.
Oportun: True Cost of a Loan
A proprietary analysis to quantify the total cost of credit products with various structures, and facilitate comparisons among products for a typical borrower.
Global Financial Wellbeing Report: Disrupting Money Habits
Read the world’s first global financial wellbeing research from nudge global and uncover how employers can break cycles of financial exclusion.
I bought my kids dinner — and saw firsthand how overdraft fees punish the poor
Like many people who are or have ever been poor, I have plenty of stories about the costly and embarrassing ramifications of overdraft fees.
Reexamining Overdraft Programs: A Guide for Financial Institutions
Reforming overdraft can help institutions improve customer finhealth, acquire new customers, and boost loyalty.
EMERGE Financial Health 2021
Catch up on key moments from our June 2021 virtual event, EMERGE Financial Health.
The Cost of Financial Services for Struggling Households
FinHealth Spend Report 2021 co-author Meghan Greene goes beyond the numbers to shed light on the products that are driving spending and examines the meaningful disparities that impact the lives of millions in this member-exclusive video.
Solutions
Learn what works with insights from industry experts on the types of financial health support consumers want and need from their financial institutions.
Performance
In this session, hear perspectives from other companies already measuring financial health – the tools they use, and the ways they turn the data into action and impact.
Infrastructure
In this session, learn what to consider when deploying resources at your organization, with insights from companies with unique approaches to building financial health infrastructure.
Vision
Join us to hear how financial industry leaders have secured stakeholder buy-in to build financial health strategies, ensured employees understand and can rally behind a shared finhealth vision, and integrated financial health as part of their organizational culture.