iGrad and Allegacy Federal Credit Union Collaborate to Introduce Personalized Financial Wellness Program to Over 166,000 Members

Allegacy Federal Credit Union, one of the largest credit unions in North Carolina, has recently joined forces with iGrad, a financial education company based in San Diego, to offer the award-winning Enrich™ financial wellness platform to its whopping 166,000 members.

“Enrich is part of Allegacy’s digital strategy to meet members’ needs wherever they are,” said Lori Timm, Allegacy financial education manager. “Further, this partnership helps us fulfill our brand promise of doing the right thing for the wellbeing of our employees, members and the broader community. We firmly believe in equipping our members with resources and tools that empower them to move ideas into action along their financial wellbeing journey.”

This collaboration comes as part of Allegacy’s commitment to providing its members with relevant and personalized financial content regardless of the stage of life they find themselves in or the amount of time they have to explore the platform.

To further enhance the financial stability of young adults, Allegacy is offering a Secured Product Bundle for 18- to 25-year-old members, which includes a secured card or loan, a digital checking account with no overdraft fees, and access to the personalized Enrich platform.

Financial wellness features

According to Timm, promoting financial wellbeing is a major component of Allegacy’s holistic wellness culture, as the institution believes in promoting wellness of mind, body, and wallet.

The Enrich personalized financial wellness program features the Your Money PersonalityTM financial behavior assessment, which analyzes each user’s financial “personality.” Additionally, the platform offers a range of financial education courses and tools, including retirement and home affordability analyzers, student loan and higher education resources, personal finance calculators, and real-time budgeting tools.

It is worth mentioning that Enrich is used by more than 20,000 employers and over 300 financial institutions nationwide, leveraging artificial intelligence technology to engage each user with the most relevant content based on their financial situation and stage of life.

Program impact and results

To emphasize the impact of the Enrich platform, recent data revealed that participants experienced a correlation between improved financial understanding and a 23 percent drop in stress levels, in addition to positive behavior changes such as increased emergency savings, more prompt credit card payments, and a higher contribution to retirement plans.

Donna Miller, iGrad vice president of business development, highlighted the importance of behavior-changing financial wellness education, emphasizing that “Enrich can help people of all income levels and in all phases of life.”