Coastal Community Credit Union Teams Up with iGrad to Offer Personalized Financial Wellness Program

SAN DIEGO—Canada’s Coastal Community Credit Union (CCCU) has teamed up with San Diego-based financial education company iGrad to offer myFinHealth to its over 120,000 members and clients on Vancouver Island and the Gulf Islands.
 

Powered by the award-winning Enrich™ financial wellness platform, myFinHealth features the Your Money Personality™ financial behavior assessment that analyzes each user’s financial “personality.” The interactive, mobile-friendly platform also provides:
 

• Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning and more
• Geographically localized articles
• Interactive tools and analyzers

 Introducing the platform is timely in today’s landscape. Canada’s Financial Wellness Lab¹ found that 60 percent of employed North Americans are more stressed about their finances today than they were a year ago and are experiencing the highest level of financial stress since the financial crisis of 2008.
 

CCCU President and CEO Adrian Legin said myFinHealth is a great resource to help improve the financial health of the credit union’s members and clients.
 

“At Coastal Community, we know that providing user-friendly, high-quality financial education helps build financial resiliency,” said Legin. “Our aim in partnering with Enrich is to reduce financial stress by helping our members and clients develop appropriate and personalized action steps within the four financial health pillars: spending, saving, borrowing and planning. This program is a great resource for all of our members and clients, no matter where they are in their financial journey.”
 

Enrich is one of the only financial wellness programs to offer a global product that allows multinational employers to implement one consistent, highly personalized financial wellness solution for employees in different countries. Used by more than 20,000 employers and more than 300 financial institutions, Enrich is powered by artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life. 

Enrich data from January 2020 to December 2021 found significant increases in financial wellness among its users:

• 35 percent increase in users who reported that they are on track with saving for their goals
• 14 percent increase in users who are contributing to their retirement savings plan
• 59 percent increase in users who had built up an emergency savings of at least three months of living expenses
• 28 percent increase in users who pay off credit card debt in full monthly
   

The Enrich data showed that users who reported lower financial stress said that decrease was substantial–nearly 32 percent. Nearly 36 percent attributed that reduction in financial stress to using the Enrich platform.

“Improved financial wellness can have a major positive impact on overall quality of life,” said Donna Miller, iGrad vice president of business development. “Many adults of all income levels all over the world are worried about their financial future. We are thrilled to be a key part of CCCU’s commitment to improving the financial wellness of its members.”
 

About iGrad

iGrad is a San Diego-based financial technology company that provides artificial intelligence-powered financial wellness solutions to more than 2.7 million students at 650 colleges and universities, over 20,000 employers and over 300 financial institutions. iGrad’s Your Money Personality™ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad is one of three 2020 honorees in the inaugural Barron's Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad recently received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit https://www.enrich.org.

 1 - https://news.westernu.ca/2022/12/financial-stress-among-north-americans-highest-since-2008-western-led-study/