Credit Union 1 has partnered with San Diego-based financial education company iGrad to offer the award-winning Enrich™ financial wellness platform to its 90,000 members and employer partners.
Credit Union 1 serves the Chicago metropolitan area, the northern and central regions of Illinois, the Indianapolis metropolitan area, and the Las Vegas metropolitan area.
Enrich is used by more than 20,000 employers and more than 300 financial institutions to provide behavior-changing financial literacy education to employees, customers and members. Recognized with the 2019 Eddy Award for Financial Wellness by Pensions & Investments, Enrich offers adaptive, interactive financial education content on topics including student loan debt, mortgages, retirement, long-term health care and more.
“Enrich takes a modern approach to financial wellness with personal recommendations based on the individual’s unique situation, in addition to the various mediums our members can receive information through articles, tools, and customizable resources,” said Credit Union 1 Director of Business Development Jeff Gonzales. “There were a number of financial wellness providers that we researched and met with, however, Enrich checked all of our boxes. Especially in today’s environment, this will give us a way to provide this valuable resource without us having to be in person presenting the information since it is a seamless virtual process.”
An April National Endowment for Financial Education (NEFE) survey illustrated the already devastating impact of the pandemic on personal finances. Eighty-eight percent of those surveyed said that the pandemic is causing increased financial stress.
Data collected from Enrich shows that as financial understanding increases, stress level drops, said iGrad founder and President Rob LaBreche.
“Enrich can help people of all income levels and in all stages of life,” LaBreche said. “We are thrilled to offer financial wellness to Credit Union 1 members and employer partners, who can participate in a virtual setting and receive customized financial education that is specific to their needs and situation.”