F&A Federal Credit Union Partners with iGrad to Offer Financial Wellness Platform
F&A Federal Credit Union, headquartered in Monterey Park, Calif., has recently teamed up with San Diego-based financial education company iGrad to provide the award-winning Enrich™ financial wellness platform to its 47,000 members.
The credit union, which offers financial services to employees of the Los Angeles County Fire Department, County of Los Angeles Agricultural Commissioner/Weights and Measures, and the employees and families of 60 Southern California cities, is committed to helping its members reach their financial goals at every stage of life.
According to F&A Federal Credit Union President and CEO Tim Green, “Our mission is to help members reach their financial goals at every stage of life by providing the highest value products, superior service and trusted advice.”
The Enrich personalized financial wellness program offers a variety of features, including the Your Money Personality™ financial behavior assessment, which analyzes each user’s financial “personality.” The platform also provides financial education courses with personalized action plans on topics such as budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, and financial planning, among others. Additionally, users have access to retirement and home affordability analyzers, a suite of student loan and higher education tools, personal finance calculators, and a real-time budgeting tool.
Enrich, used by more than 20,000 employers and more than 300 financial institutions nationwide, engages each user with the most relevant content based on their financial situation and stage of life. It includes dynamic tools and courses, delivering a highly personalized and interactive learning experience on financial topics.
Given that 73 percent of Americans rank their finances as the most significant source of stress, engaging with the Enrich platform can help combat financial stress. Participants who improved their financial understanding reported a significant drop in their stress levels.
Additionally, Enrich data revealed positive behavior changes resulting from program participation, including an increase in users with emergency savings funds, those paying their credit cards in full every month, those contributing to their retirement plan, and those getting on track with their financial goals.
Sam Evans, iGrad Vice President of Business Development, emphasized that “Enrich can help people of all income levels and in all phases of life,” and commended F&A Federal Credit Union for offering the program to its members.
iGrad is a San Diego-based financial technology company that provides AI-powered financial wellness solutions to colleges and universities, employers, and financial institutions. The company’s Your Money Personality™ was recognized with the Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award.
F&A Federal Credit Union, established in 1936, is a full-service financial institution offering financial products and services to more than 47,000 members throughout southern California. With assets of nearly $2.5 billion, the credit union is dedicated to providing its members with trusted advice and high-value products.
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