X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Stressed out couple reviewing bills

First, the depressing facts: According to the often-quoted statistic from the Federal Reserve’s “Report on the Economic Well-Being of U.S. Households in 2018,” “If faced with an unexpected expense of $400 … 27% [of Americans] would borrow or sell something to pay for the expense, and 12% would not be able to cover the expense at all.” This translates into 127 million Americans being a hair’s breadth away from financial ruin.

Think about what a low bar $400 is in today’s world: Maybe a new set of tires for your late model automobile, an emergency room visit or even a “luxury” good like signing junior up for an after-school sport. Since most readers of CU Times likely don’t fit into this category of Americans, it might be hard to imagine what it feels like to live on this razor’s edge. Filene’s recent research report, “The Case for Workplace Financial Well-Being,” illuminates this impact by reporting: “Half or more of all workers – including more than half of credit union employees – admit to feeling stressed by their finances, and that stress is spilling over into their work …” This stress causes, among other things, employee disengagement, absenteeism and turnover. Research can sometimes be very depressing.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Dig Deeper

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.