Apr 23 2020
Webinar / Thursday, April 23, 2020 at 11:00am - 12:00pm
Navigating New Forms of Economic Fragility: Consumer Financial Lives in Transition
Led by Dr. Lisa Servon, the Center of Excellence for Consumer Financial Lives in Transition is a four-year research project focused on strengthening credit unions' capacity to adapt to consumers' changing financial lives and livelihoods as they face new forms of economic struggle and financial fragility.
Join Filene for this session to kick off the work of this research center and learn more about Dr. Servon's vision for it: "The work from this center will help credit unions serve people facing different kinds of transitions – income volatility, retirement, physical health and inequalities. If we can understand the frequency of these kinds of transitions and when people are going through them, we may be able to help alleviate the financial burdens that have been historically created.”
Get a high-level overview of upcoming research projects aimed to:
- Study how individuals and families earn, save, spend, borrow, invest and give across their lifecycles.
- Prepare credit unions for an increasingly diverse consumer base characterized by heightened fragility.
- Build a playbook for credit unions to better serve consumers’ changing needs and expectations.
- Document trends in consumer financial services, including auto, mortgage, healthcare, and student lending, as well as savings and personal financial and wealth management.
- Identify new member groups through granular segmentation, such as households and communities of color, veterans and military families, incarcerated and recently incarcerated populations, students and multigenerational families.
- Investigate the future of work and business services, from the independent workforce to new forms of small-business entrepreneurship.
Generous support for the Center of Consumer Financial Lives in Transition is provided by CUNA Mutual Group, BCU, Digital Federal Credit Union (DCU) and PSCU.
Taylor C. Nelms
Senior Director, Research
Filene Research Institute