Consumers’ financial health declined in 2022 for the first time in the five years the Financial Health Network has tracking this measure—making credit unions’ efforts to improve members’ financial well-being especially important.

This episode of the CUNA News Podcast explores how credit unions aim to change that, from credit counseling and financial literacy initiatives to increasing access to affordable housing.

We talk to:

• Carrie Iafrate, president/CEO at $815 million asset Members First Credit Union in Midland, Mich.
• Susan Espinosa, vice president of member experience at $1.4 billion asset Skyla Credit Union in Charlotte, N.C.
• Nicole Harper, director of corporate strategy at Jack Henry.

You can listen to the CUNA News Podcast in Apple Podcasts, Google Podcasts, Spotify, and Stitcher Radio. A video version of the episode is available on the CUNA News YouTube page.

In this episode:

1:07: Why financial health is a top priority

3:03: CDFI designation

5:26: Where members struggle

7:22: What’s behind the renewed focus on financial well-being

16:54: The role of technology in financial health efforts

24:28: New directions for financial well-being initiatives

30:48: Advice for other credit union leaders

35:10: Focus on savings