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Financial Well-being

With a weakened economy and historically high inflation, more consumers are feeling financially stressed than ever before. It's time for credit unions to focus on improving members' financial health.

Why it matters

Credit union members love to share their stories of when they opened their first savings account, got their first car loan, or was able to afford the house of their dreams. As an industry we never tire of hearing these deeply personal and emotional stories as it reflects the core of our business model. It also reflects a huge competitive advantage for credit unions looking to differentiate themselves from larger banks and fintechs. Credit unions have a reputation for providing personal guidance and advice for life's bigger financial decisions and for supporting their local communities. 

Filene shares this passion for improving financial lives and helping credit unions seek opportunities to make an impact throughout their communities. Explore the many resources we have to learn the latest socioeconomic trends, under-banked/under-served populations, and programs to implement that will differentiate your organization in your community. 

Research in this topic

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  • Report #676 |
    Financial Well-being

    Employer-Sponsored Small-Dollar Loans

    Employer-Sponsored Small-Dollar Loan (ESSDL) programs empower credit unions and other FIs to collaborate with employers to help employees meet their financial needs. ESSDL programs provide an alternative to high-cost borrowing options, while potentially building employees’ credit or helping them start saving. This report examines the current landscape of ESSDL programs from credit union, employer, and borrower perspectives, with important lessons learned and best practices for implementation.
  • Report #673 |
    Financial Well-being

    Results Overview of Filene's Center of Excellence for Community Social Impact

    This report highlights the impact from our Center of Excellence for Community Social Impact. Led by Dr. Mai Thi Nguyen, the work from this center focused on helping credit unions move beyond isolated philanthropy to become strategic drivers of community change community change including addressing complex challenges on housing, disaster resilience, and financial inclusion.
  • Report #667 | Members
    Financial Well-being

    What Improves Employee Well-Being?

    As employees face rising stress, financial pressure, burnout, and disengagement, credit unions are being challenged to create workplaces that support people both at work and in life. Strengthening employee well-being can improve retention, engagement, productivity, and the ability of employees to serve members effectively. This report highlights where employees are struggling most and outlines practical strategies credit unions can use to build healthier, more supportive workplaces.
  • Report #665 |
    Innovation Financial Well-being

    2025 FiLab Results: Silvur

    One of the six solutions selected for the 2025 FiLab testing phase focused on supporting members through one of the most complex transitions they will face, retirement. Silvur is a white-labeled digital platform that guides members through Social Security, Medicare, and retirement income decisions, to test whether retirement education delivered through the credit union channel could deepen member relationships and support asset retention at a critical life stage.

More opportunities

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