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Report #557 |

Putting Financial Well-Being for All into Practice

This quick-start guide brings together resources and offers practical tips from the National Credit Union Foundation and Filene Research Institute on how credit unions can garner the full benefit of incorporating a Financial Well-Being For All focus in their work.

Executive Summary

Over the past several years, Filene and the National Credit Union Foundation independently have assembled research, case studies, and resources that point to the strategic value of putting employee and member financial well-being at the center of credit union decision-making and product and service delivery. 

These resources demonstrate the power of a people-first strategy in helping to solve many of the challenges credit unions face: sustainability, growth, talent acquisition and retention, to name a few. 

Credit Union Implications

People want to feel financially secure and know they are on a path to financial health and well-being. Credit unions have long supported their members' financial health and well-being through responsible lending products, higher savings rates, and financial education. But the digital transformation across the financial industry and the growth of fintechs have changed the competitive landscape. Credit unions no longer own an obvious advantage on service or relationship banking.

Credit unions looking to adopt a more holistic approach to improving the financial health of their employees, members, and the communities they serve should start with the four steps laid out in this guide. Each of these four steps contains examples of how credit unions have incorporated Financial Well-Being For All into their strategy and decision-making and a variety of additional resources.

Download this free quick start guide today and begin incorporating a Financial Well-Being For All focus at your credit union. 

Filene's Center for Consumer Financial Lives in Transition is generously funded by:

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