Program – Why Provide Investor Education?
We live in a world where we each have the responsibility to learn about and manage our own financial lives, but no matter where you look, the statistics tell a chilling story:
- Average Americans score less than 55% on basic financial literacy tests.
- 67% feel they don’t know enough to make sound financial decisions.
- Nearly 9 out of 10 employees want their employers to help them with financial and investment education.
- Distress over financial matters causes more than 52% of Americans to experience irritability, anger, fatigue and sleeplessness.
Investor Education Boosts the Bottom Line
Many employers have come to realize that when their employees lack basic confidence about their ability to make wise and safe decisions to plan for long-term goals such as retirement, this uncertainty affects employee productivity and morale.
Organizations that make an investment in educating employees in money matters realize big payoffs. The Personal Finance Employee Education Foundation (PFEEF) shows that improving the financial knowledge and well-being of employees saves employers money.
- Employers save up to $2,000 per employee per year through improved productivity, reduced health care costs, lower absenteeism and turnover, and better use of employee benefits.
- Typical ROI for employers who provide employees with access to quality financial literacy programs is 3:1 or more.
- 45% of employers state that financial advice and guidance programs can be effective at improving employee productivity
Proven and Powerful Results for Credit Unions and their Members
In addition to benefits for employers and employees in general, credit unions participating in the program can help expand the powerful impact of this program to the millions of members they serve. Below is a sample of some of the benefits for credit unions and their members.
- Retirement education program helps members save an extra $200 million
- Desert Schools helps members increase retirement savings by over 300%
- Summit Credit Union raises the bar on financial education
Get Started Today
Add your employees to the roughly 16,000 participants who have improved their financial IQs with the highly engaging IEiYW® training program. Register now.
1. USA Today, “Health takes a hit as economy creates more stress.” October 7, 2008.
2. Alliant CU white paper, “Should You Offer Your Employees Basic Financial Literacy Training?" 2011.
3. Securities Industry Association Annual Survey.
4. MetLife, “8th Annual Study of Employee Benefit Trends.” 2010.