Save First’s corporate partnership program has proven to better employees’ quality of life.
Financial struggle is more pertinent in the workplace than many realize. According to Save First Financial Wellness:
- 54% of Americans spend 20 hours each month on finances at work.
- 50% of Americans cannot meet an unexpected financial emergency of $400 or more without borrowing from family or using credit.
- One-third of Americans report they have no retirement savings; 23% have less than $10,000 saved.*
To help employees throughout the community better manage their finances, Save First partners with corporations to provide emergency fund administration, access to financial wellness workshops, one-on-one financial coaching, and matched savings and small-dollar loan products to company employees. Services are offered as perks to employees on a fee-for-service basis within the employees’ benefits packages.
Well-tended finances offer many benefits that often extend well beyond people’s personal lives. Through Save First’s financial wellness program, employees have reported larger savings, lower debt, increased credit scores, and lowered overall stress as a result of active budgeting.
Currently, Save First works with six corporations: Providence, PeaceHealth, The Portland Clinic, Vancouver Clinic, Portland Timbers, and Kids Community Learning Center (KCLC). They have also provided financial education classes and our one-on-one financial coaching services to other community partners, including Home Forward and Lighthouse Community Credit Union. Historically, Save First has served 4,149 corporate employees and 784 in FY20.
“Lighthouse Resource Center is delighted with our relationship with Save First Financial Wellness. We faced a daunting challenge in serving our clients needing financial coaching and counseling as we entered the challenges of COVID-19 earlier this year. The Save First team was able to transition all of our clients to online access almost overnight. We were able to continue access to the talented and compassionate Save First counselors both for existing clients and new ones coming to us regularly in SW Washington. We are grateful for the partnership!”
— Brett Bryant, Board Chair
Lighthouse Resource Center