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Help Members Reach Their Financial Goals

Friday, August 08, 2014   (0 Comments)
Posted by: Susan Dyer
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Providing access to one-on-one financial coaching sessions can help members save more and remain accountable to their financial goals, according to a recent study recently released by the Filene Research Institute. 

A pilot program demonstrated that members who worked with a financial coach earned 21 percent more in savings over the course of a year, compared to those who didn’t receive financial intervention.  

The report also recommended that an effective financial counseling product should be customized for the member’s situation, focus on setting and achieving specific goals, and monitor progress.

GreenPath offers credit unions a turn-key financial counseling program with all of these components.  

A financial counseling session with a GreenPath counselor typically begins with a free assessment of the member’s situation and goals, addressing housing, credit, budget, and debt issues.  The counselor and member then develop a personalized and detailed budget, review options to address financial concerns, and create a plan for financial success.

If you would like to learn more about how GreenPath’s financial counseling program can benefit your members, while improving your credit union’s bottom line, contact Al Bilinski at 248-994-8802.

GreenPath, a CUNA Strategic Services alliance provider, is a HUD approved non-profit organization that partners with over 300 credit unions nationwide to provide members high quality financial counseling.   GreenPath’s customized services and solutions have been helping people achieve their financial goals since 1961.