Nov 09 2016

Beyond Personal Finance Management: Insights for Credit Unions

Personal financial management (PFM) has come a long way—from Managing Your Money and Quicken 98 to Mint and the proliferation of branded apps from every retail bank, credit union, insurer, and ambitious fintech start?up.

With smartphone data bandwidth getting cheaper and the semantic web data mapping users’ transactions, locations, lifestyles, and digital identities, financial services have grown more complex and can leverage behavioral economics to become augmented financial management coaches and optimizers.

This report argues that PFM services are uniquely compatible with the member-friendly mission of credit unions and that mainstream and underserved credit union members could benefit from affordable, accessible financial guidance.

Filene thanks our generous sponsors for making this research possible:

Report Number 408