My Blog
Targeted resources can help families navigate financial insecurity: What we have learned from COVID-19
According to a study by SpringFour and Elevate, the pandemic’s impact on American households was uneven, and those who struggled require support beyond what traditional financial institutions provide. Millions of Americans of all income levels are looking for resources to help them pay for basic needs – with banks’ and financial institutions’ customers requesting more than 5 million referrals for vetted financial resources, including food assistance, employment support, and prescription savings since the pandemic began.
Targeted resources can help families navigate financial insecurity: What we have learned from COVID-19
During the summer of 2021, SpringFour and Elevate’s Center for the New Middle Class collaborated on a research project using data from the Center’s Non-prime tracker survey and SpringFour data on over 5 million referrals to ascertain households’ financial health and stability.
Eviction Prevention During the COVID-19 Pandemic: Resources Available through SpringFour
To address the impending potential crisis facing tenants who will no longer be covered by eviction moratoriums, SpringFour is dedicated to providing as much information as possible to help families who need resources. Cassandra Compton blogs about the resources SpringFour has for tenants possibly facing eviction.
SpringFour: A One-Stop Shop for Homeowner Assistance
Springfour is uniquely positioned to help Non-profits and Servicers provide assistance to their clients. Through updated state resources and expert-authored informational guides about the Homeowner Assistance Fund, SpringFour’s new offering and current tools can help struggling homeowners apply for funds.
SpringFour Launches Small Business Financial Support, Partners with Accion Opportunity Fund
SpringFour, the only social impact fintech platform that helps financial institutions
give customers the support they need to regain financial control, today announced its new partnership with Accion
Opportunity Fund, the nation’s leading nonprofit Community Development Financial Institution (CDFI) to small
businesses. SpringFour also announced the launch of Small Business Support resources to help small business
owners find the financial and operational support, and relief grants, loans, and other direct financial assistance.
The Case Against Returning to Normal
SpringFour CEO Rochelle Gorey authored an op-ed for American Banker: “The case against returning to normal.” In the article, she describes the enormous opportunity that banks have to continue to prioritize their customers’ financial health, and how they can do so. Here’s an excerpt:
“There is much help available now, but customers may not know that help exists or whom to trust. Financial institutions are in the right place to provide all of the financial services that people need, including access to these resources. This will benefit customers and institutions alike — increasing repayment rates and securing a positive relationship with their customers when these resources provide the support they need…We all do well when we do good. We don’t have to return to normal — we can decide to be better and do right by our customers. It’s a win-win for all.”
