Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Today, we are proud to share our Q1 Impact Report with you.

At SpringFour, impact is core to everything we do. A comprehensive look at the first quarter of 2023, this report delves into the consumer needs and financial industry trends we’re seeing. It demonstrates SpringFour’s unique position to deliver critical solutions to pressing needs. Every single day, our social impact fintech makes it possible for brands to help consumers in real ways — and that not only feels good, it makes business sense.  

Together with our partners, we delivered 1,248,781 financial health referrals to consumers this quarter — and as a result, we helped organizations improve repayment rates, boost customer engagement, power financial capability, empower employees, add brand value, and more.

As the economic environment changes, SpringFour is prepared with proactive updates to support consumers as soon as they are faced with a challenge. Since many Americans filed their taxes this quarter, we updated and strengthened our Income Tax Support offerings to help consumers receive all the tax credits they’re entitled to. Before Covid-19 public health emergency declarations ended last week, we updated the nonprofit and government resources in our healthcare-related categories and provided more detailed information about prescription savings programs offered by drug manufacturers, nonprofits, and governments; discounts on prescription medication; and more.

And none of this would have been possible without the SpringFour team and the support of our clients who drive impact for their consumers every day through SpringFour. 

After reading this impact report, we ask that you please do two things:

  1. Send us a note to let us know which trend surprised you the most. 
  2. Share this report with others in your network.

We are proud to drive impact with you. Thank you, as always, for your partnership.

Rochelle Nawrocki-Gorey

CEO & Founder

Awards and Recognition

       

                         

 

 

 

 

 

                              

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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Financial Capability Month: SpringFour is Financial Knowledge

Financial Capability Month: SpringFour is Financial Knowledge

Financial Capability Month: SpringFour is Financial Knowledge

Financial capability is knowing where to go for support. 

In a SpringFour survey conducted in 2020, we asked low- to moderate-income households if they were familiar with any resources that can provide assistance in helping reduce household expenses. 40% of respondents were not at all or not very familiar with these resources, while 43% were somewhat familiar. Only 17% of respondents were very familiar with resources that might be available to help them through a financial setback. 

That’s why, in honor of Financial Capability Month (formerly known as Financial Literacy Month), we are highlighting how SpringFour, together with our partners, is helping households across the country find the support they need. This knowledge empowers consumers not only to alleviate any current financial burdens but to know where to turn for support in the future to face financial challenges, pay off loans, and save money.

SpringFour’s Financial Health Resource Guides are a core piece of our financial education offering to help consumers navigate their finances and know where to turn for support. The Financial Health Resource Guides are authored by SpringFour’s team of professionals and provide money-saving tips on a variety of financial topics, including assistance with Medical Costs, Student Loan Repayment, and Paying for Home Repair. 

Using SpringFour, consumers gain access to a number of these guides as well as unlimited searches and referrals to nonprofit and government resources that are continuously manually updated by SpringFour’s team of experts, each with experience in social services, community development, or financial wellness. We offer resources in over 30 categories including food savings, employment services, small business support, and financial counseling. Over the last year, requests for our Financial Counseling resource offerings increased 28%. With SpringFour’s assistance, consumers not only have access to free financial counseling organizations in their own communities that can help them manage finances, pay down debt, increase savings, and establish and build credit — they also have the support of SpringFour’s Financial Health Resource Guide about Financial Counseling to access more resources and support.

Mission Lane, a like-minded, mission-driven fintech, uses SpringFour to help its customers improve their credit. In this GoBankingRates article, SpringFour’s partnership with Mission Lane is highlighted as a solution to help consumers reduce expenses and save. Organizations that partner with SpringFour not only empower their customers and deliver on their ESG goals, but also increase repayment rates and reduce delinquency, driving value for the organization to create win-win-wins. 

“From both our professional and personal experiences, we understand that financial setbacks happen, and people may need additional resources to overcome them. SpringFour’s financial health resources support our goal to provide individuals with a path forward and alleviate additional financial burdens.”

Shane Holdaway

CEO, Mission Lane

Mission Lane, a like-minded, mission-driven fintech, uses SpringFour to help its customers improve their credit. In this GoBankingRates article, SpringFour’s partnership with Mission Lane is highlighted as a solution to help consumers reduce expenses and save. Organizations that partner with SpringFour not only empower their customers and deliver on their ESG goals, but also increase repayment rates and reduce delinquency, driving value for the organization to create win-win-wins. 

“From both our professional and personal experiences, we understand that financial setbacks happen, and people may need additional resources to overcome them. SpringFour’s financial health resources support our goal to provide individuals with a path forward and alleviate additional financial burdens.”

Shane Holdaway

CEO, Mission Lane

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

       

                         

 

 

 

 

 

                              

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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