GreenPath Financial Wellness Northland Federal Area Credit Union

TechValidate Customer Research Library / GreenPath Financial Wellness / Case Studies /

GreenPath Financial Wellness Case Study

Northland Federal Area Credit Union

Introduction

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

“Providing respectful options for members enduring financial challenges. Providing educational content for Marketing communications. "

Challenges

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

Why they partnered with GreenPath:
- Because members 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 company uses:

Using the GreenPath Financial Wellness Program in the following areas:
- Education
- Marketing
- Call Center
GreenPath offerings/capabilities:
- Financial Counseling: Very Important
- Debt Management Plan (DMP): Very Important
- Partner Center Access (Marketing Materials): Very Important

Results

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

After partnering with GreenPath, they saw a positive impact longstanding partner – not sure of the answer to this 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
- Improve collection results
- Mitigate risk of charge-offs and bankruptcies
- Provide impactful financial literacy resources to staff and members/customers
- Gain a competitive advantage
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
- 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
Improved credit scores
Greater reduced debt
Increased loyalty to the financial institution
Increased financial health and confidence

How they would describe their GreenPath partnership?

Reliable
Unique
Good value for the investment
Innovative
Empathetic
Responsive

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

TechValidate Research on GreenPath Financial Wellness