Mutual Security Credit Union (MSCU) has partnered with iGrad, a San Diego-based financial education company, to provide its award-winning Enrich™ financial wellness platform to more than 25,000 members in western Connecticut. This collaboration is part of MSCU’s ongoing commitment to promoting financial well-being in the communities it serves.
Through MSCU’s Financial Independence Training (FIT) Program, members now have access to Enrich’s personalized and mobile-friendly platform, which includes a wide range of features such as the Your Money Personality™ financial behavior assessment, financial education courses with personalized action plans, retirement and home affordability analyzers, a suite of student loan and higher education tools, personal finance calculators, and a real-time budget tool.
Michael J. Augusti, Vice President of Sales & Service at MSCU, emphasized that the FIT program, including the Enrich platform, reflects the credit union’s mission of supporting the financial well-being of its members. Augusti stated, “Our ‘People Helping People’ motto is at the core of the FIT program. The program is perfect for all ages and income stages, promoting improving money skills, creating savings and budgeting goals, understanding money habits and much more.”
MSCU serves individuals in Fairfield, Litchfield, and New Haven counties in Connecticut, and the partnership with iGrad aligns with the credit union’s goal of providing valuable resources and support to its members.
Enrich is a widely recognized platform used by over 20,000 employers and 300 financial institutions across the country. Its artificial intelligence technology delivers content tailored to each user’s financial situation and stage of life.
The collaboration with iGrad and the availability of the Enrich platform come as a response to the increasing financial stress experienced by many Americans. According to a 2021 Capital One CreditWise survey, 73% of Americans cited finances as the most significant source of stress. To address this concern, Enrich users are encouraged to track their stress levels and assess improvements in financial wellness over time.
Data from Enrich revealed substantial increases in financial wellness among its users, including higher rates of saving for goals, contributing to retirement savings plans, building emergency savings, and paying off credit card debt in full. Users also reported significantly lower levels of financial stress, with many attributing the reduction to their use of the Enrich platform.
Donna Miller, iGrad Vice President of Business Development, highlighted the potential positive impact of improved financial wellness on overall quality of life. She expressed enthusiasm about iGrad’s role in supporting MSCU’s efforts to enhance the financial well-being of its members.
iGrad is a San Diego-based financial technology company with a proven track record of providing artificial intelligence-powered financial wellness solutions to millions of students, employees, and financial institution customers. The company has received recognition for its contributions to financial literacy education and has been honored with awards for its commitment to improving the financial health and security of Americans.
In conclusion, the partnership between MSCU and iGrad represents a significant step forward in supporting the financial wellness of credit union members in western Connecticut. The availability of the Enrich platform provides valuable resources and tools to help individuals improve their financial literacy, reduce financial stress, and work towards their financial goals. This collaboration reflects a shared commitment to promoting financial well-being and empowerment within the community.
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