GreenPath Financial Wellness Research Charts

GreenPath Financial Wellness Customer Research

Partner Experience with the Virtual Financial Coach is Strong

Please rate your level of agreement with the following

	Strongly Agree	Agree	Neutral	Disagree	Strongly Disagree
GreenPath offers exceptional partner support for the VFC	85%	15%	0%	0%	0%
The VFC offers an outstanding member/user experience	46%	54%	0%	0%	0%
The VFC was easy to implement	75%	25%	0%	0%	0%
My credit union is effectively using the VFC to engage members	38%	62%	0%	0%	0%

GreenPath Financial Wellness Customer Research

Virtual Financial Coach shows Return on Experience for Members

What features/benefits of the VFC have been valuable to your credit union?

Offers members on-demand financial advice	100%
Available 24/7	92%
Improves member credit scores and financial health	69%
Engages more members	62%
Enhances digital footprint	46%
Increases brand awareness	38%
Appeals to younger members	15%
Supports Loan Growth	15%
Supports internal financial coaches	15%

GreenPath Financial Wellness Customer Research

Top Use Cases for Virtual Financial Coach

Where are your members engaging with the Virtual Financial Coach?

Website Pop-up Offer	69%
Social Media	62%
Email Campaigns	46%
Within the Online Banking Platform	46%
Text or Push Campaigns	15%

GreenPath Financial Wellness Customer Research

Since partnering with GreenPath, partners have seen the following benefits for the people they serve:

Increased savings	20%
Approved for loans they were previously denied	21%
Increased loyalty to the financial institution	49%
Improved credit scores	53%
Greater reduced debt	67%
Reduced financial stress	67%
Increased financial health and confidence	78%

GreenPath Financial Wellness Customer Research

By partnering with GreenPath Financial Wellness, partners have enhanced their ability to:

Support members/customers in reaching financial goals	89%
Provide impactful financial literacy resources to staff and members/customers	72%
Develop stronger relationships with members/customers and improve member/customer satisfaction	71%
Increase payback of member/customer debt through debt management plans	55%
Reduce strain on staff resources	36%
Gain a competitive advantage	28%
Improve collection results	26%
Mitigate risk of charge-offs and bankruptcies	25%
Approve more loans	16%

GreenPath Financial Wellness Customer Research

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

Education	77%
Lending	69%
Collections	65%
Marketing	65%
Website	65%
Retail Operations/Branches	54%
Call Center	30%
Business Development	26%
Mobile Banking App	15%

GreenPath Financial Wellness Customer Research

Financial Education Content that Meets the Needs of Members

GreenPath’s credit union partners site the following member challenges that our financial educational content helps them address.

Credit improvement	77%
General budgeting tools	66%
Engagement with the individuals you serve (members, clients, etc.)	47%
Loan denials	34%
Loan qualifications/approvals	17%
Checking accounts (new accounts, overdrafts)	6%

GreenPath Financial Wellness Customer Research

What member/customer challenges would your organization be most likely to address with GreenPath’s marketing assets?

Credit card debt	83%
Credit report/score education	79%
Basic financial management- saving, budgeting, setting goals, etc.	74%
Homebuyer education	69%
Housing delinquency/foreclosure prevention	52%
Checking account management	48%
Managing auto loans	45%
Student loan debt	43%
Other	2%

GreenPath Financial Wellness Customer Research

How does your organization let your members/customers know about GreenPath?

Posted on our website	95%
Social media	88%
Newsletter/blog	60%
Print material in lobby	53%
Form letters	9%
Video in lobby	7%

GreenPath Financial Wellness Customer Research

Partners Love GreenPath

96% of surveyed Financial Institution Partners give GreenPath a 4 star rating or higher.

	62%
	15%
	19%

GreenPath Financial Wellness Customer Research

Benefits of the GreenPath Financial Wellness Program

Through partnering with GreenPath Financial Wellness, we have enhanced our ability to:

Support members/customers in reaching financial goals	85%
Provide impactful financial literacy resources to staff and members/customers	73%
Develop stronger relationships with members/customers and improve member/customer satisfaction	62%
Increase payback of member/customer debt through debt management plans	44%
Reduce strain on staff resources	39%
Mitigate risk of charge-offs and bankruptcies	33%
Improve collection results	30%

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%

GreenPath Financial Wellness Customer Research

GreenPath helps partners achieve their mission

Credit unions, banks, employers rate the importance of GreenPath offerings/capabilities available to them:

Very Important Important Neutral Not Important

Financial Counseling
Debt Management Plan (DMP)
Partner Center Access (Marketing Materials)
Educational Resources such as CheckRight, Worksheets, on-line courses, PowerPoint Presentations, Workshops, etc.
Staff Resources - Staff Training, Toolkits, Job-Aids

GreenPath Financial Wellness Customer Research

GreenPath’s Financial Counseling Services Rated as Very Important to Mission of Partnering Organizations

Nearly 90% of GreenPath’s credit union, banking partners cite that GreenPath’s trusted financial counseling is very important to the mission of their organization.

Very Important Important Neutral Not Important

Financial Counseling
Debt Management Plan (DMP)
Partner Center Access (Marketing Materials)
Educational Resources such as CheckRight, Worksheets, on-line courses, PowerPoint Presentations, Workshops, etc.
Staff Resources - Staff Training, Toolkits, Job-Aids

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 Customer Research

Why partner with GreenPath?

To provide help for members/customers struggling with their finance	89%
To support/provide financial literacy resources to the community	75%
Our in-house team is unable to provide counseling services	46%
Our staff needs financial wellness resources	34%
To approve more loan applicants	20%

GreenPath Financial Wellness Customer Research

Since partnering with GreenPath, what benefits have your members experienced?

Reduced financial stress	76%
Increased financial health and confidence	67%
Greater reduced debt	61%
Improved credit scores	53%
Increased loyalty to the financial institution	46%
Approved for loans they were previously denied	23%
Increased savings	20%

TechValidate Research on GreenPath Financial Wellness

17 Charts

Partner Experience with the Virtual Financial Coach is Strong

Virtual Financial Coach shows Return on Experience for Members

Top Use Cases for Virtual Financial Coach

Financial Education Content that Meets the Needs of Members

Partners Love GreenPath

Benefits of the GreenPath Financial Wellness Program

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

GreenPath helps partners achieve their mission

GreenPath’s Financial Counseling Services Rated as Very Important to Mission of Partnering Organizations

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