Financial well-being is at the heart of the credit union philosophy.
PSCU, a CUNA associate business member at the premier level, recently completed a study that assessed the financial health of credit union members and employees against a national benchmark.
The study, “How Credit Unions Can Become Financial Health Providers,” found that more than 60% of credit union members surveyed struggle financially, and at least one-third live paycheck –to paycheck. More than 60% of credit union employees struggle financially.
PSCU has taken the opportunity to engage its employees in deeper discussions about personal finance and make financial wellness part of its strategic mission. In this episode, Merry Pateuk, senior vice president of industry engagement at PSCU, describes how the company shares this message with the rest of the credit union system and uses its products and services to integrate financial well-being into the payments process.
In this episode:
2:26: Research results
4:12: Investing in financial wellness
6:51: Aha moments
8:37: Bringing it home
11:52: Resources for credit unions