Promoting Financial Health + Wellbeing

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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 a Financial Health + Wellbeing webpage to cultivate resources for members of all ages, including blog posts, educational videos, and downloadable content.
  • Provided 1:1 financial coaching to members struggling with budget, credit, and debt challenges.
  • Launched the Beginners Best Kids Savings Account to promote financial literacy to kids up to 12 years, providing educational resources for parents via a curated Beginners Best Perks webpage.
  • Partnered with the WFBH Survivorship Clinic to provide practical training for cancer survivors on addressing financial toxicity.
  • Created a collection of Young Adult products + educational resources via a curated webpage with tips related to budgeting, building credit, and making wise spending decisions to promote financial independence.
  • Engaged in collaborative credit union work groups at a national level to drive innovation and best practices related to promoting financial health.
  • Awarded first place in the youth and adult categories of the Desjardins Financial Education Awards by the Carolinas Credit Union Foundation
  • 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.

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