{"id":3175,"date":"2020-12-14T10:51:31","date_gmt":"2020-12-14T15:51:31","guid":{"rendered":"http:\/\/www.ncultheaffiliate.com\/?p=3175"},"modified":"2020-12-14T10:51:32","modified_gmt":"2020-12-14T15:51:32","slug":"starting-fresh-with-financial-well-being-for-all","status":"publish","type":"post","link":"https:\/\/www.ncultheaffiliate.com\/?p=3175","title":{"rendered":"Starting fresh with financial well-being for all"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;-83px|||||&#8221;]<\/p>\n<p><a href=\"http:\/\/www.ncultheaffiliate.com\/wp-content\/uploads\/2020\/12\/ncuf.jpg\"><img loading=\"lazy\" class=\"wp-image-3153 alignnone \" src=\"http:\/\/www.ncultheaffiliate.com\/wp-content\/uploads\/2020\/12\/ncuf.jpg\" alt=\"\" width=\"189\" height=\"109\" \/><\/a><\/p>\n<p><strong>Gigi Hyland<\/strong>, Executive Director<br \/>National Credit Union Foundation<\/p>\n<p><em>\u201cGreat occasions do not make heroes or cowards; they simply unveil them to our eyes. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we have become.\u201d<\/em> <em>Brooke Foss Westcott<\/em><\/p>\n<p>There is opportunity in crisis. An opportunity to grow and learn; an opportunity to connect our values with our mission; an opportunity to put financial well-being at the center of our strategy so we can live that mission; and an opportunity to engrain diversity, equity and inclusion into our work.\u00a0<\/p>\n<p>First things first \u2013 what is <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_financial-2Dwell-2Dbeing_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=JwXyRtZpLTFigonMKjVM4ZdrpIPEaTajUz3c3VDHN8Y&amp;e=\">financial well-being<\/a>? It\u2019s not just financial education or financial literacy. It\u2019s what folks <strong>do<\/strong> with their money and how they <strong>feel <\/strong>about their money. Financial health and well-being are deeply connected to every other part of life \u2013 housing, access to food, transportation, education, healthcare, etc.\u00a0<\/p>\n<p>What do you we know about Americans\u2019 current state of financial well-being?\u00a0<\/p>\n<ul>\n<li>More than <strong>two-thirds<\/strong> of people in America (<strong>167 million people<\/strong>) are not financially healthy, and <strong>disparities have widened<\/strong> by race and income and persisted across gender. (Source: 2020 U.S. Financial Health Pulse).<\/li>\n<li>More than <strong>50 million<\/strong> Americans have filed for unemployment.<\/li>\n<li><strong>One in five<\/strong> have seen their income reduced.<\/li>\n<li><strong>Tens of thousands<\/strong> of small businesses have closed permanently.<\/li>\n<\/ul>\n<p>These are <strong>our<\/strong> employees, members, families and communities. COVID-19 is having a massive impact on household finances which will continue into 2021. How do we, as credit unions, work to remain inclusive and focus on providing financial well-being for all?<\/p>\n<p>As we head into the new year, I challenge your organization to think about these five things:<\/p>\n<ol>\n<li><strong>Really <\/strong>know what your members\/employees are going through financially right now. You can <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_financial-2Dwell-2Dbeing_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=JwXyRtZpLTFigonMKjVM4ZdrpIPEaTajUz3c3VDHN8Y&amp;e=\">measure<\/a> through surveys and you can look at transaction\/data trends to see what\u2019s going on. Make sure you truly understand what all people need and respond to that.<\/li>\n<li><strong>Everyone<\/strong> is thinking about their finances <strong>daily<\/strong>. They are looking for help to manage their finances in these <strong>micro-moments<\/strong> (sending money to a loved one, contactless card, money movement), not only for the big life stages like buying a house or a car. Do you have a <strong>laser focus<\/strong> on the member experience as you help members through those micro-moments?<\/li>\n<li>Advancing financial well-being for <strong>all<\/strong> your members is <strong>strategic<\/strong>. It\u2019s not just the job of marketing or community engagement. It is what credit unions do. It\u2019s who you are. You are <strong>in<\/strong> the financial well-being business.\u00a0 <strong>Now<\/strong> is the time to place financial well-being <strong>at the center<\/strong> of your strategy and align all your services to advance your mission. \u00a0<\/li>\n<li>It\u2019s time to double down on <strong>empathy<\/strong>, helping your team understand what their teammates and your credit unions\u2019 members are really going through. This can help foster <strong>a diverse and inclusive culture<\/strong>. Train your staff to help coach your members through these micro-moments and trying times of the pandemic.\u00a0<\/li>\n<li>What can you do <strong>strategically<\/strong>, within your broader community, to help members with things <strong>connected to financial well-being<\/strong>, like food, affordable housing, healthcare, access to the internet, etc.? \u00a0<\/li>\n<\/ol>\n<p>Credit unions have an immense opportunity to triple down on their mission of financial well-being for all as we head into an uncertain 2021. The Foundation is here with resources to help you in this <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_financial-2Dwell-2Dbeing_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=JwXyRtZpLTFigonMKjVM4ZdrpIPEaTajUz3c3VDHN8Y&amp;e=\">financial well-being<\/a> journey including <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_events-2Dengagements_media-2Dresources_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=i39d1gO3a5yY_ngNXadQOkWkbVrRCWGgEShwGK4ZpWU&amp;e=\">webinars<\/a>, video series, <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.cuna.org_Shop_Meeting-2DDetail_-3FproductId-3D298160041&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=OlLbyZOou_G_fxsrN0HCYpkYA_Iw2gUO_hugYLRxGV0&amp;e=\">free empathy e-school<\/a>, tips for <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_blog_empathy-2Dstarts-2Dwith-2Dme_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=E8S8a0RBlsECOTZcVI2HimIaUh3N1JvNQhLIA0KrNHk&amp;e=\">practicing empathy at work<\/a> and <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.ncuf.coop_blog_leverage-2Dthe-2Dfoundations-2Dexploring-2Dour-2Dvalues-2Donline-2Dresource_&amp;d=DwMFAg&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=x5sU0khmGMTRjYZBepNm56dP0ESgPGa0sEaOCu7ViU0&amp;m=dJ1qs4wjx40cEERXZWJo-lKTvXLonENCxZXn8LaE4GQ&amp;s=ZqFpn1EBXF72VCLhMIarIvE5361DvTmhxoeKfA5pJqA&amp;e=\">Exploring Our Values<\/a> free self-guided course.<\/p>\n<p>&nbsp;<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n  ","protected":false},"excerpt":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;-83px|||||&#8221;] Gigi Hyland, Executive DirectorNational Credit Union Foundation \u201cGreat occasions do not make heroes or cowards; they simply unveil them to our eyes. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/3175"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3175"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/3175\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}