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According to a 2024 Financial Wellness Study by Bank of America, 64% of employees are stressed about their financial situation, and 67% believe that living costs are outpacing their income growth. Workers often look to their employers for help, and in many cases, companies are responding by adding financial wellness programs to their benefits packages. As experts in financial programs, banks and credit unions have a prime opportunity to strengthen customer relationships with financial wellness

It’s no secret that many American workers have been experiencing financial difficulties in recent years. According to a 2023 LendingClub report, 60% of Americans live paycheck to paycheck, including more than 40% of high-income earners. With financial stress impacting employee performance, experts predict that by 2026, nearly half of employers will adopt a formal financial wellness benefits program. This creates opportunities for financial institutions to work closely with business clients to develop a robust financial

As the labor market becomes increasingly competitive, employers are beginning to understand the need to implement employee financial wellness programs. Such programs enhance employee satisfaction, retention, and overall productivity.  According to a Bank of America study, 97% of employers feel responsible for employee financial wellness. Health Savings Accounts (HSAs) are pivotal in successful financial wellness programs. Workplace Financial Wellness Programs Employer-sponsored financial wellness programs give employees the authority to manage their fiscal responsibilities. These programs