Filene provides a holistic financial well-being approach

The Filene Research Institute recently hosted a webinar, 'Putting Financial Well-being for All into Practice,' to move credit unions from commitment to action for their members. Panelists included Gigi Hyland, National Credit Union Foundation executive director; Chuck Purvis, Coastal Federal Credit Union president/CEO; Maurice Smith, CEO of Local Government and Civic Federal Credit Unions; and Mike Valentine, BCU president/CEO.  

“Financial Well-being for All is connecting the dots between how [a person’s] money is working, how they feel about their money, and if they are achieving their goals,” said Hyland.  

Filene and the Foundation provided a quick start guide for credit union employees and members to jumpstart a holistic approach to improving financial health. 

Filene emphasized that financial well-being for all is a strategic opportunity for credit unions and being able to help consumers who are struggling financially is a real need. A study showed that 80% of consumers expect their primary financial institutions to help them improve their financial health, while only 18% of them deliver on that. 

A recording of the presentation can be found here.