Original Research on GreenPath Financial Wellness

GreenPath Financial Wellness Customer Research

Nearly 90% of Organizations Enter into Partnership with GreenPath to Support their Customers who are Struggling with Finances

Credit unions, banks and employers cite the following reasons for partnering with GreenPath:

Desire to approve more loan applicants	20%
Members or customers struggling with their finances	89%
High delinquency rates on loans/credit cards	8%
In-house team unable to provide counseling services (no time/not financially viable)	46%
Staff in need of financial wellness resources	34%
Dissatisfied with previous financial wellness provider	11%
Competitors offering financial wellness resources	10%
Desire to support/provide financial literacy resources to the community	75%
Other	3%

GreenPath Financial Wellness Case Study

Case Study: Palmetto Citizens Federal Credit Union

Introduction

This case study of Palmetto Citizens Federal Credit Union is based on a February 2021 survey of GreenPath Financial Wellness customers by TechValidate, a 3rd-party research service.

“We have enjoyed offering the GreenPath service to our members, and have always received excellent comments from our members using the service.”

“GreenPath has been very accommodating in assisting our credit union with staff training/retraining and provides valuable reporting assistance to help us gauge our member’s usage of the service.”

“We also appreciate the opportunity to provide a valuable service used by so many members.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select GreenPath Financial Wellness:

Why they partnered with GreenPath:
- Because members or customers were struggling with their finances

Use Case

The key features and functionalities of GreenPath Financial Wellness that the surveyed company uses:

Using the GreenPath Financial Wellness Program in the following areas:
- Education
GreenPath offerings/capabilities:
- Financial Counseling: Very Important
- Debt Management Plan (DMP): Very Important
- Partner Center Access (Marketing Materials): Important
- Educational Resources such as CheckRight, Worksheets, on-line courses, PowerPoint Presentations, Workshops, etc.: Important
- Staff Resources – Staff Training, Toolkits, Job-Aids: Important

Results

The surveyed company achieved the following results with GreenPath Financial Wellness:

After partnering with GreenPath, they saw a positive impact within the first 3 months on members/customers and their financial institution.
Partnering with GreenPath Financial Wellness, they have enhanced their ability to:
- Support members/customers in reaching financial goals
- Develop stronger relationships with members/customers and improve member/customer satisfaction
- Increase payback of member/customer debt through debt management plans
- Provide impactful financial literacy resources to staff and members/customers
  *The credit union has learned the following through their partnership with GreenPath:
- GreenPath offers exceptional partner support
- GreenPath offers an outstanding member/customer experience
- partnering with GreenPath has improved their financial institution’s performance
- partnering with GreenPath has improved staff engagement
- GreenPath is genuinely concerned about the well-being of their members/customers
Benefits their members/customers have experienced since partnering with GreenPath:
- Reduced financial stress
- Improved credit scores
- Greater reduced debt
How they would describe their GreenPath partnership?
- Reliable
- Good value for the investment
- Empathetic

About GreenPath Financial Wellness

GreenPath Financial Wellness is a national nonprofit that believes that financial health is a path to achieving dreams. It means having stability and freedom. Having options and being able to work toward your goals. Maybe that’s a bigger home. Or a different job. Or a better school for your kids. It’s different for each of us, but taking control of day-to-day financial choices is the foundation for creating more opportunities. Because our dreams are that much closer when we’re financially healthy.

Learn More:

GreenPath Financial Wellness

GreenPath Financial Wellness Case Study

Membership Organization

Introduction

This case study of a membership organization is based on a February 2021 survey of GreenPath Financial Wellness customers by TechValidate, a 3rd-party research service. The profiled organization asked to have their name blinded to protect their confidentiality.

“Help our members afford their monthly payments and avoid delinquency or even worse charge off.”

Challenges

The business challenges that led the profiled organization to evaluate and ultimately select GreenPath Financial Wellness:

Why they partnered with GreenPath:
- Members/customers were struggling with their finances
- Out of a desire to support/provide financial literacy resources to the community

Use Case

The key features and functionalities of GreenPath Financial Wellness that the surveyed organization uses:

Using the GreenPath Financial Wellness Program in the following areas:
- Collections
GreenPath offerings/capabilities:
- Financial Counseling: Very Important
- Debt Management Plan (DMP): Very Important
- Partner Center Access (Marketing Materials): Very Important
- Educational Resources such as CheckRight, Worksheets, on-line courses, PowerPoint Presentations, Workshops, etc.: Very Important
- Staff Resources – Staff Training, Toolkits, Job-Aids: Very Important

Results

The surveyed organization achieved the following results with GreenPath Financial Wellness:

After partnering with GreenPath, they saw a positive impact within 7-12 months on members/customers and their financial institution.
Partnering with GreenPath Financial Wellness, they have enhanced their ability to:
- Support members/customers in reaching financial goals
- Develop stronger relationships with members/customers and improve member/customer satisfaction
- Improve collection results
Level of agreement with the following:
- GreenPath offers exceptional partner support: strongly agree
- GreenPath offers an outstanding member/customer experience: strongly agree
- partnering with GreenPath has improved their financial institution’s performance: strongly agree
- partnering with GreenPath has improved staff engagement: strongly agree
- GreenPath is genuinely concerned about the well-being of their members/customers: strongly agree
Benefits their members/customers have experienced since partnering with GreenPath:

Reduced financial stress
Increased savings

How they would describe their GreenPath partnership?

Reliable
Good value for the investment

About GreenPath Financial Wellness

GreenPath Financial Wellness is a national nonprofit that believes that financial health is a path to achieving dreams. It means having stability and freedom. Having options and being able to work toward your goals. Maybe that’s a bigger home. Or a different job. Or a better school for your kids. It’s different for each of us, but taking control of day-to-day financial choices is the foundation for creating more opportunities. Because our dreams are that much closer when we’re financially healthy.

Learn More:

GreenPath Financial Wellness

GreenPath Financial Wellness Customer Satisfaction

Our Partners Promote Us

100% of those surveyed are likely to recommend GreenPath Financial Wellness.*

100%

GreenPath Financial Wellness Customer Statistic

75% of surveyed organizations partnered with GreenPath out of a desire to support/provide financial literacy resources to the community.

75%

GreenPath Financial Wellness Customer Research

Credit Unions are Incorporating Financial Wellness in All Areas of the Credit Union

In what areas are you using the GreenPath Financial Wellness Program?

Collections	74%
Education	73%
Lending	68%
Website	68%
Marketing	66%
Retail Operations/Branches	51%
Call Center	33%
Business Development	26%
Mobile Banking App	11%

TechValidate Research on GreenPath Financial Wellness

These pages present data that TechValidate has sourced via direct research with verified customers and users of GreenPath Financial Wellness. TechValidate stands behind the authenticity of all published data. Learn more »

About TechValidate Research

Selected Research Highlights

Nearly 90% of Organizations Enter into Partnership with GreenPath to Support their Customers who are Struggling with Finances

Case Study: Palmetto Citizens Federal Credit Union

Introduction

Challenges

Use Case

Results

Company Profile

About GreenPath Financial Wellness

Membership Organization

Introduction

Challenges

Use Case

Results

Organization Profile

About GreenPath Financial Wellness

Our Partners Promote Us

Credit Unions are Incorporating Financial Wellness in All Areas of the Credit Union

More to Explore

About GreenPath Financial Wellness