A new publication from the National Credit Union Foundation, Health and Financial Well-being: Two Good Things that Go Better Together. The Case for Credit Union and Health Care Collaboration has been released. Please see their message below:
Our brief is rooted in the principle that health and financial well-being are intrinsically linked: financial insecurity is a major source of stress, and stress impacts physical and mental health; poor health impacts the ability to work, or perform well at work, which can lead to financial insecurity.
A growing number of credit unions, health care providers, public health and government leaders, and philanthropic organizations have embraced the connection between health and financial well-being. We suggest that while this important work endeavors to have a positive effect, the potential for accelerating improved outcomes should increase if these institutions work collaboratively.
Health and Financial Well-being: Two Good Things that Go Better Together. The Case for Credit Union and Health Care Collaboration provides strategies for building effective partnerships, and examples where credit unions, health systems, and other community partners are working together to improve health and financial well-being outcomes for individuals and families in need.
Our call to action is as timely, as it is necessary. Despite the lowest unemployment rate in 17 years and strong economic growth, millions of Americans still struggle to make ends meet: four in 10 adults, if faced with an unexpected expense of $400, would either not be able to cover it; over one-fourth of adults skipped necessary medical care in 2017 due to being unable to afford the cost, and; medical debt is a primary driver of personal bankruptcy.
We invite you to join the Foundation on its journey to make connecting health and financial well-being central to institutional strategy and collaboration – elevating it from being a thing to being the thing.