At Allegacy, we live out our brand promise of doing the right thing for the wellbeing of our employees, members, and the broader community by promoting financial health. We are committed to offering personalized financial wellbeing offerings to our members, Select Employee Groups, and community partners. During the pandemic, we shifted all of our financial workshops, interactive challenges, educational tools, and 1:1 financial coaching to virtual delivery channels. Our aim is to meet individuals where they are, equip them with resources to make informed decisions, and help them achieve their financial health goals.
Delivered 4,000 financial education hours to members and employees via virtual workshops, financial coaching, and digital tools.
Launched Allegacy’s weekly Monday Money Tip social media campaign to promote financial wellbeing.
Through a partnership with the Financial Health Network, Allegacy leveraged the FinHealth Score® survey to assess member financial health. The results indicated that 51% of Allegacy members are financially healthy compared to 37% of their credit union counterparts. In fact, Allegacy members ranked higher than national benchmarks in the areas of save, borrow, and plan.
34% are more confident in their ability to achieve long-term goals
69% carry a more manageable debt load
55% are more likely to have a prime/near-prime score
43% are far more confident in their insurance coverage and are more likely to plan ahead financially
In a similar survey, 92% of Allegacy employees reported making timely bill payments, a healthy financial habit they model every day among members.