Financial Stress and Workplace Performance: Developing Employer-Credit Union Partnerships
The financial problems of employees cause untold hardship monetarily, emotionally and physically. These money problems affect both employees and employers, reducing productivity, increasing absenteeism, and ultimately affecting employer profitability. To combat a serious drain on workplace productivity, employers can provide incentives for employees to attain financial wellness.
Credit unions can become partners in this effort by participating with their sponsoring organizations in educational programs and interventions designed to improve employee financial wealthbuilding and coping skills, and assist households needing help to remediate poor financial habits. In a program designed to address these issues, the Filene Research Institute and The Center for Credit Union Research conducted a colloquium with funding from the National Credit Union Foundation, under a grant from the Ford Foundation. The colloquium brought together top researchers in the field and credit union executives to discuss practical approaches to the problem.