Return on Investment for Credit Union Financial Counseling: Pathways Impact and Insights
New Webinar on December 6, 2018
Financial counseling is a powerful tool to help improve members’ financial health and to grow responsible community development lending. Pathways enables credit unions to provide structured financial counseling linked with products, and allows counselors to track the impact of that service in an online technology platform. In this webinar, we will preview new analysis from Pathways on the social and financial returns of counseling and coaching in credit unions.
|Return on Investment for Credit Union Financial Counseling
Thursday, December 6, 2018
3:00 PM - 4:30 PM EST
Participants will come away from this session with an understanding of how credit unions turn financial counseling and coaching into opportunity, including:
- Serving the Underserved: In many areas, clients that seek counseling are largely unbanked and vulnerable to predatory financial service providers. For instance, more than half (56%) of Pathways clients arrive at counseling with a subprime credit score, and 11% arrive without credit established.
- Connecting People to Products: Clients often come to credit unions as trusted banking institutions and seek counseling with specific financial goals in mind, such as qualifying for a car loan to commute to work or trying to get out of high-cost debt. Credit union staff, ranging from financial counselors to loan officers, use Pathways action plans that get low-income individuals loan-ready.
- Building Savings, Scores, and Hope: Nearly half of Pathways clients achieve one or more of their financial goals. For those in counseling for at least 6 months, 58% improve their credit score by an average of 38 points, and 60% reduce their collections debt.
Register today to hear how Border FCU, Neighborhood Trust Financial Partners, and Inclusiv are helping credit unions yield returns on counseling in underserved communities at: