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.”
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.”
Morgan Pierce
Impact and Communications Manager
Awards and Recognition
