Build stronger member relationships through financial counseling

first_imgAccording to a recent BlackRock report, financial worry outranks other leading stressors including health, family and work. Financial stress is a top worry for American families because many of them live paycheck to paycheck and find it difficult to secure a brighter financial future by breaking this cycle.Many facing financial difficulty want to improve their financial outlook, but are unsure how to start planning for their long-term goals. When asked in a J.D. Power’s 2018 Retail Banking Advice Study what they wanted from their financial institutions, 78% of respondents indicated financial advice or guidance, while only 28% said they have access to these services. Considering these statistics, offering a financial wellness program at your credit union could be as important as offering a checking or savings account.Working financial education and counseling into your service offering has the potential to enhance member engagement and lead to greater growth for your credit union. You’ll also demonstrate your commitment to your members’ financial security well-being while improving your bottom line. Here are 3 reasons why you should consider having a financial wellness program at your credit union:Increasing number of Americans dealing with financial instability. According to the CFSI Financial Health Pulse, 72 % of Americans are facing financial hardship. More members than you realize may be looking for financial guidance. Your credit union can reach and engage membership that are burdened by student loans, medical bills, credit card debt and a host of other financial troubles. Growing desire for wellness benefits among credit union staff. Your employees are dealing with the same financial challenges as other Americans. The PwC 2018 Employee Wellness Survey results indicate financial insecurity negatively affects employee health and productivity and more employees want access to financial wellness benefits.Building a competitive edge. You can fulfill unmet needs of your membership and build loyalty through meaningful engagement. You’ll also attract new membership looking to access these benefits. Depending on the resources available to your credit union, you may find that a partnership with a financial wellness program like GreenPath Financial Wellness can be the quickest way to add financial counseling to your member service offering. They specialize in credit-union focused financial counseling and education services.GreenPath Financial Wellness has partnerships with over 500 credit unions across the U.S. and have helped others like you:Develop a financially healthier membershipReduce losses from charge-off or bankruptciesAchieve higher engagement levels with productsLearn more by connecting with us at cuna.orgLearn more about how GreenPath can help your members achieve financial well-being, by visiting 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Enlarged Gamesys returns to UK growth eyeing FTSE250 spot

first_img Submit Cash-focused Gamesys sanctions £40m debt repayment  March 3, 2020 Gamesys halts UK advertising during lockdown April 23, 2020 Share Related Articles Gamesys maintains UK growth as Euro regulatory headwinds stall performance August 11, 2020 Share StumbleUpon The governance of LSE-listed Gamesys Group, formerly JPJ Group, has cited confidence in achieving its corporate objective of indexing as a FTSE250 firm within the coming months.Publishing its full-year 2019 results, a new look Gamesys has reported a 35% increase in corporate revenues to £415 million (FY2018: £308m), citing ‘high organic growth’ achieved across the UK and Asia. Corporate governance branded 2019 as a ‘transformative year’, in which the company has taken full control of its technology stack and increased its UK B2C brand portfolio by acquiring group technology partner ‘Gamesys’ for £490 million last September. The strategic enlargement has allowed the company to ‘return to UK growth’, as it’s home market unit recorded 5% revenue growth to £357 million (FY2018: £339m). Further enlargement gains saw Asian operations surpass Europe as Gamesys’ second-largest revenue-generating region. Gamesys stated that it has established its presence within Japan after recording an Asia revenue increase of 137% to £122 million (FY2018: £55m).Commenting on company performance, Gamesys Group CEO Lee Fenton said: “I am delighted with Gamesys Group’s strong financial performance in 2019, particularly given the significant work undertaken around the acquisition and integration of the legacy Gamesys business.“Pro-forma5 revenues grew 15% delivered by growth the UK, Asia and North America, slightly offset by a decline in Europe, mainly due to regulatory developments in Sweden. It was particularly pleasing to see the UK return to moderate growth in 2019 as we annualised the introduction of enhanced responsible gambling measures and we expect to see similar trends in 2020.” Closing its 2019 accounts, Gamesys has absorbed £63 million in Q4 administrative costs (Q42018: £28m) primarily related to transactional fees and group taxes.Despite booking significant transactional costs, Gamesys maintained a 9% increase in adjusted EBITDA to £118 million (FY2018: £108m), sustaining its group net income at £85 million (FY2018: £86m). “After a transformative year, the Group can look to the future with confidence,” added Fenton. “Our ability to use enhanced scale, greater operational control and a renowned portfolio of brands will provide a strong platform for growth and at this early stage of the current financial year we are trading in line with our expectations. Finally, as ever, we aim to continue to provide an entertaining, fun and responsible environment for all our players to enjoy.” In its forward-looking, Gamesys underlined that 2020 trading thus far has remained in line with expectations. However, corporate governance is currently monitoring global COVID-19 developments closely and will issue investors with a further update prior to publishing its Q1 2020 trading statement in May.last_img read more