People’s Trust Federal Credit Union Launches Enrich Financial Wellness Platform to Its 30,000 Members
San Diego, Calif., May 13, 2021 – (PR.com) – People’s Trust Federal Credit Union has partnered with San Diego-based financial education company iGrad to bring the award-winning Enrich ™ financial wellness platform to its 30,000 members.
Enrich is used by more than 20,000 employers and 300+ financial institutions across the country to provide behavioral training, tools, and resources in financial literacy to employees, customers, and members. The People’s Trust Federal Credit Union is a cooperative providing financial services to Houston residents.
Shelly Chinnery, community outreach specialist for Federal Credit Union, said that credit union is offering enrichment as a key resource to help members gain better control over their finances through permanent behavioral changes.
“We couldn’t have started Enrich at a better time than April, Financial Literacy Month,” said Chinnery. “We believe Enrich is everything that Financial Literacy Month stands for, including financial improvement and wellness.”
Enrich offers adaptive, interactive financial education content on topics such as student loan debt, mortgages, budgeting, investing, retirement, long-term health care, and more.
Recent studies (1) show that the pandemic has worsened the financial burden for most Americans, especially lower-income workers and people of color.
In a recent survey by John Hancock Retirement (2), 75 percent of respondents said that an employer-sponsored financial wellness program would make a positive contribution to their financial burden. This assessment is supported by data from Enrich, where users reported an average reduction in financial burden of 23 percent over a 12 month period.
“Enrich can help people of all income levels and at all stages of life,” said Todd Woodlee, vice president of business development for iGrad. “People’s Trust Federal Credit Union demonstrates the importance of financial wellbeing by providing Enrich members with virtual access to the platform and financial education tailored to their needs and situation.”
iGrad is a San Diego-based financial technology company that provides artificial intelligence financial wellness solutions to more than 600 colleges and universities, 20,000+ employers, and 300+ financial institutions. iGrads Your Money Personality ™ was recently recognized by the Institute for Financial Literacy with the “2020 Excellence in Financial Literacy Education” (EIFLE) award for the adult education program of the year. iGrad is one of three 2020 award winners at the opening of Barron’s Celebrates: Financial Empowerment after being selected by a team of judges for its contributions to improving the financial health and safety of Americans. iGrad also received the Eddy Award 2020 for the financial well-being of pensions & investments for its Enrich platform. For more information on the iGrad platform, please visit https://www.igradfinancialwellness.com. Further information on the Enrich platform for employers and financial institutions can be found at https://www.enrich.org.
(1) https://www.hsph.harvard.edu/news/press-releases/poll-61-of-us-households-with-children-report-facing-serious-financial-problems-during-the-coronavirus -Outbreak/
(2) https://www.johnhancock.com/about-us/news/john-hancock-retirement/2020/10/working-americans-seek-advice-as-pandemic-increases-financial-stress–finds- John Hancock Retirement.html