F&A Federal Credit Union Partners with iGrad to Offer the Enrich Personalized Financial Wellness Program to Its 47,000 Members
Summary
San Diego, CA, February 04, 2022 --( PR.com )-- F&A Federal Credit Union has teamed up with San Diego-based financial education company iGrad to offer the award-winning Enrich™ financial wellness platform to its 47,000 members.Headquartered in Monterey Park, Calif., the credit union provides 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.“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,” said F&A Federal Credit Union President and CEO Tim Green. The Enrich platform includes dynamic tools and courses, delivering a highly personalized and interactive learning experience on financial topics including student debt, mortgages, budgeting, investing, retirement and long-term care.According to a 2021 Capital One CreditWise survey, 73 percent of Americans rank their finances as the most significant source of stress.To combat financial stress, Enrich users are prompted to update their stress score regularly to gauge the correlation between improved financial wellness and stress levels. Recent Enrich data revealed that as participants improved financial understanding, their stress levels dropped by an average of 23 percent.Additional Enrich data found positive behavior changes as a result of program participation, including:-27 percent increase in users with emergency savings funds covering three to six months of expenses-28 percent increase in users that pay their credit cards in full every month-32 percent increase in users getting on track with their financial goals-15 percent increase in users contributing to their retirement plan“Enrich can help people of all income levels and in all phases of life,” said Sam Evans, iGrad Vice President of Business Development. iGrad also received the 2019 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. Based in Monterey Park, Calif., F&A Federal Credit Union was established in 1936 and has assets of nearly $2.5 billion.