PODCAST: Focus on financial health
Credit unions address consumers’ declining financial well-being.
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.
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.
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