Improving People's Financial Health

Be a part of the conversation! Follow #CUFinHealth to see insights and knowledge into credit union consumer financial health.

The Business Case for #CUFinHealth

In our last blog post on #CUFinHealth, we launched the hashtag and talked about how credit union members need credit unions to help them achieve their financial aspirations. But what about the business case for financial health? How can credit unions justify spending staff time and operational resources focusing on improving their members’ financial health? Why is this good for business? A recent white paper by our friends at CFSI squarely addresses this question.

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Your National Credit Union Foundation is focused on improving the financial health of credit union members. Towards the end of 2017, the National Credit Union Foundation wrapped up a year-long grant funding effort to conduct consumer financial health check-ups with the Center for Financial Services Innovation (CFSI). This work, generously funded and supported by CUNA Mutual Group, included financial health check-ups for six credit unions.

Click here to view the aggregated financial health check-up results.

The Foundation will be continuing this type of work into 2018 to do more research and identify specific products that credit unions should consider to improve members’ financial health in the areas of saving, spending, borrowing and planning. Additionally, as a thought leader, the Foundation actively participates and presents at national conferences on this important issue.

CFSI is one of the leading organizations dealing with the subject of consumer financial health. CFSI’s Consumer Financial Health Study found that 57% of Americans are financially unhealthy, which means they lack daily financial systems that serve them well, struggle to weather financial shocks, and are not well-positioned to pursue their financial aspirations.

Graphic via Prosperity Now
Graphic via Prosperity Now
“Financial capability is a critical step on the road to financial well-being. Financial capability is the capacity, based on knowledge, skills and access to products and services, to manage financial resources effectively. When we talk about financial capability, we’re talking about more than financial education. Financial capability means a person possesses not just the knowledge, but also the practical skills to use that knowledge and the access to resources that we all need to manage our finances effectively.”

For More Information... Gigi Hyland, Executive Director, at or (202) 824-6282.

“Understanding members’ financial health and members’ day to day financial struggles are key to helping credit union management, staff, and board members to pursue initiatives to help more members improve their financial health."
- Gigi Hyland Executive Director National Credit Union Foundation