Improving Financial Wellness in the Workplace

Fact Sheet

Improving Financial Wellness in the Workplace

Assessing Participant Outcomes in Working Credit's Benefit Program

Abstract

Organizations are increasingly offering financial wellness programs as a workplace benefit, as they understand these programs are both good for their employees’ well-being and for their company’s bottom line. One such program is Working Credit NFP, a workplace benefit program designed to help employees establish and build strong credit scores and use their improved scores to enhance their financial circumstances. The Urban Institute conducted a pilot study of Working Credit’s program data to understand whether participants met the program’s objectives to improve their credit scores. The share of participants with prime scores increased across all racial and ethnic identities and hourly wage levels, and the share of participants with debt in collections or delinquency declined over the 18-month program. Participants also increased the amount of affordable credit available to them in an emergency.

Cross-Center Initiative

Cross-Center Initiative: 
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.
LATEST IN Income and Wealth
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.