As wellness incentives continue to grow in popularity among companies, new programs are surfacing that are focused on a different aspect of employee health: the financial kind. McGraw-Hill Federal Credit Union (FCU), one of the country's top credit unions, this week announced that it had completed the "introductory phase" of its first Financial Wellness in the Workplace Program. Aimed at corporate America, the program, launched in June with McGraw-Hill Education, aims to motivate workers to better understand and improve the condition of their finances.
The effort provides workers with educational seminars on topic such as "Know Your Financial Scores" and "Identity Theft - More Than a Financial Risk," and also engages them in one-on-one discussions with financial experts about money management. The initial seminars were attended by almost 250 people, and the credit union touts the program as an approach to worker wellness that the broader corporate world could learn from.
"Many Americans continue to struggle to gain control of their financial lives," said Shawn Gilfedder, president and CEO of McGraw-Hill FCU, in a statement. "The stress that this causes impacts them at work and limits their ability to achieve their personal life goals. We believe corporations must take a more active role in assisting employees in understanding and taking control of their finances."
He added that the McGraw-Hill program creates opportunities for employees to not only better understand their finances, but encourages them to take action on the information they receive.
"The financial wellness of our employees is important to us," added Andrea Kuglstatter, Senior Director, Benefits at McGraw-Hill Education, in a statement. "In just a short time, McGraw-Hill Federal Credit Union's Financial Wellness in the Workplace program is assisting employees to build foundations for financial wellness."
She added that a significant number of the credit union's employees are now "taking positive steps to advance their financial lives" as a result of the program, and that when individual workers are in a better place financially, it benefits McGraw-Hill Education as a whole.
More information about McGraw-Hill FCU and Financial Wellness in the Workplace can be found here