Financial Well-being
With a weakened economy and historically high inflation, more consumers are feeling financially stressed than ever before. It's time for credit unions to focus on improving members' financial health.
Why it matters
Filene shares this passion for improving financial lives and helping credit unions seek opportunities to make an impact throughout their communities. Explore the many resources we have to learn the latest socioeconomic trends, under-banked/under-served populations, and programs to implement that will differentiate your organization in your community.
Research in this topic
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Report #599 |Trust is currently at an all-time low in the financial services sector, particularly among low-income and minoritized communities. Emerging technologies may exacerbate challenges for credit unions aiming to establish connections with these crucial segments, as detailed in the report, which concludes with three key takeaways for credit unions seeking to build trust in the communities they serve.
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Report #602 |
Pocketnest: Financial Wellness as an Engagement Strategy
In times of financial uncertainty, credit unions must provide members with the necessary tools to achieve financial wellness in order to remain relevant and cultivate loyal, long-lasting, and productive relationships with both current and prospective members. Filene partnered with Pocketnest to test their financial wellness app as a solution for credit unions to offer more ways to engage with their members while helping them save more and become more financially sound. -
Report #585 | | Members
Intergenerational Family Finances: Lessons from the College Cost Crisis
This brief provides useful insights into the pressures facing college-bound young adults and their families and how credit unions could benefit from supporting them.
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Report #589 | | Members
Creating Financial Safety and Support for Vulnerable Populations
Learn how credit unions can better protect their most vulnerable members through providing supported financial decision-making (SDM) solutions.
More opportunities
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Blog |
Thinking Forward: Bringing HBCUs and Community Financial Institutions Together
February is Black History Month, an important moment to celebrate the achievements and contributions of Black Americans and to pause, reflect on, and take action to redress the intransigent inequities that Black Americans live with, day-in and day-out. -
Blog |
We’ve Tested Subscription-Based Pricing, Engaging Indirect Members and More!
The Lab at Filene has completed the testing of four ideas focused on helping credit unions adapt and thrive in today's marketplace. Final results are set to publish by the end of this year, but here is a sneak peek of our initial insights. -
Blog |
The Financial Needs of College Students
Rohit Subramaniam served as Filene's Research Intern in the summer of 2023 and worked on various research projects. He is a student at NYU Stern School of Business and worked on the following piece for Filene detailing the student perspective how credit unions can better understand and serve the needs of college students. -
Blog |
Thinking Forward — How Changes in Consumer Savings Are Intensifying the War for Deposits
Today's challenging economic environment with higher prices due to inflation continues to put a strain on consumers' ability to save and is weakening the average American's financial health. In our latest Thinking Forward newsletter, Filene experts Taylor Nelms and Caroline Vahrenkamp provide insights on consumer savings trends since the pandemic and how this can impact credit unions in an already highly competitive war for deposits.