Many financial services organizations in the United States are taking action to improve their customers’ and employees’ financial health. Through the Financial Health Maturity Assessment Program, this report assesses the survey responses of 43 Financial Health Network Members to identify key opportunities for financial institutions to advance their financial health strategies. Learn about the actions these Members are taking within each pillar and phase of the FinHealth MAP, and gain insights into the areas they still need to prioritize.
From April 1 to June 30, 2021, Americans balanced saving and new spending opportunities, with minimal changes in earned income.
EMERGE Insights is back on Wednesday, November 3. Join this free virtual event to find out about the global economy in the pandemic and what our current state of the world is telling us about where the future is headed.
In partnership with BECU, the largest credit union in Washington state, this study examines the impact of a new mobile app savings feature, Quick Save, which allows members to spontaneously transfer small amounts to their savings accounts with the swipe of a button.
Key Finding: Low- to moderate-income (LMI) frontline workers are less likely to be Financially Healthy than non-frontline LMI workers.
Recent research from the Financial Health Network published by the Brookings Institution also shows that most people who had not recently filed a tax return (a group that is more likely to have lower incomes) received their first stimulus payment at least two weeks later than those who had recently filed a tax return.
Despite the vast data collected by our government, we lack an accepted method of assessing financial health. Learn why we must measure not only each household’s annual income but also its annual spending, saving, borrowing, and planning habits to identify communities whose financial health is poor, deteriorating, or failing to keep pace with overall improvements.
Choosing the best approach to implement will depend on a company’s proposed use case, available data types, and resources available for analysis.
As a company focused on serving those consumers who may be shut out of traditional borrowing opportunities, Elevate understands that access to safe, affordable credit is as important as ever in enabling Americans to achieve financial security. Presented by: Elevate
New Pulse Data Shows Stimulus Payments Jump Started Spending But Funds Slowest to Reach Low-Income Individuals
Chicago, IL, May 20, 2021 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, with support from the Citi Foundation, today released its first Financial Health Pulse Points brief featuring transactional data that highlights the effects of the two federal stimulus payments and tax refunds issued in early 2021 on account […]