Amid record-high levels of financial stress among Americans, the Filene Research Institute launched its new Center for Member Well-Being on July 1. The initiative is led by Dr. Mathieu Despard of Washington University in St. Louis and backed by credit unions nationwide.
According to Bankrate’s latest Financial Freedom Survey, 77% of U.S. adults say they are not completely financially secure, which is a steady increase from prior years. Filene’s new center aims to help credit unions address that stress by exploring evidence-based practices to improve both financial and overall well-being.
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“As a lifelong credit union member and the grandson of a small-town credit union board member, I’m thrilled to join and support Filene’s Member Well-Being Center of Excellence,” said Dr. Despard. “I look forward to helping credit unions explore creative ways to impact member well-being around other quality of life issues such as health.”
The Center will explore how credit unions can better serve the “whole member” by examining drivers of well-being, effective internal policies, and financial tools that improve quality of life. Generous support is being provided by credit unions including Altura, Chartway, Members First, and United Nations FCU.
“At Altura, we believe that true financial strength starts with the overall well-being of the people we serve,” said President/CEO Jennifer Binkley. “This research will help credit unions like ours better understand the real-life challenges our members and employees face.”
Filene will host a launch webinar on July 22 and in-person sessions at its big.bright.minds. conference in December. The institute also previewed its next major initiative: a Center of Excellence on All Things Payments, set to launch in 2026.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
