Staples Launches Trusted Advisor as a Financial Wellness Benefit

December 21, 2017. Staples has selected Neighborhood Trust as a benefits provider, delivering our Trusted Advisor™ service to a segment of its national workforce. We are thrilled Staples has chosen to include financial wellness among its suite of workplace benefits.

As of November Trusted Advisor is reaching employees at four Staples locations. Over the next three months we are rolling out the service to nearly 5,000 Staples employees in nine states. We look forward to being an active presence in the Staples community nationally in the coming year.

For each Staples employee, this means help is on the way. With a simple text message, any employee can select from a roster of our expert Financial Counselors and begin a long-term counseling relationship via phone or […]

Staples Launches Trusted Advisor as a Financial Wellness Benefit 2017-12-21T12:45:40+00:00

How Data Security Affects My Clients

The Equifax data breach couldn’t have come during a more delicate time for our clients. As a Neighborhood Trust Financial Counselor, most of my clients are first generation immigrants. In many cases, they get their first glimpse of how the Financial System works in the United States through our services. Our clients are mostly women, many of them are parents, and on average our clients have subprime credit, thousands of dollars in debt and collections, little or no savings, and earn well below the median income. We help them establish or improve their credit, build savings and manage their cashflow, but nothing can prepare them for something as catastrophic as a data breach affecting as many as 146 million […]

How Data Security Affects My Clients 2017-11-02T21:47:05+00:00

Neighborhood Trust Responds to Equifax Data Breach

On September 7th Equifax announced a cyber-security incident that could impact as many as 143 million people in the U.S. Criminals accessed some of Equifax’s data that included names, Social Security numbers, birth dates, addresses, driver’s license numbers and credit card numbers.

The breach highlights an important challenge for the financial industry and for Neighborhood Trust’s nearly 7,000 low- and middle-income clients, most of whom are already struggling to get ahead. For the millions of Americans living paycheck to paycheck and without an emergency fund, identity theft and stolen credit card information can quickly escalate to a cash flow crisis and financial disaster. For Neighborhood Trust clients, an incident like this can threaten to undermine the precious trust we have helped them to build with financial services, since even when they […]

Neighborhood Trust Responds to Equifax Data Breach 2017-09-20T13:53:28+00:00

Neighborhood Trust Named CFSI Financial Health Leader

This year, the Center for Financial Services Innovation (CFSI) named Neighborhood Trust as a 2017 Financial Health Leader at the EMERGE conference in June. This award recognized our work with FlexWage focusing on the spending and planning components of financial health by coupling access to accrued wages with guidance on customers’ spending, bill pay, and cash flows using our WageGoal cash management tool.

Neighborhood Trust is proud to be a part of the CFSI Financial Health Network, made up of financial services, financial technology and other providers who are committed to improving financial health for all Americans. CFSI Network organizations work to support and accelerate consumer-focused innovation, providing valuable opportunities for us to share data and ideas, showcase best practices, and make valuable connections.

CFSI’s […]

Neighborhood Trust Named CFSI Financial Health Leader 2017-08-04T10:00:28+00:00

Trust in the News

WageGoal Featured in Aspen EPIC Issue Brief

Payroll innovation isn’t just socially responsible—it’s smart business with the potential to impact clients’ financial health, starting with where they get paid. This recent issue of the Aspen Institute’s EPIC features our WageGoal pilot with Catholic Charities as an innovative and evidence-based fin-tech product that helps clients manage cash flow issues and overcome income volatility.

In addition to profiling WageGoal as an innovative tool for employees to gain access to accrued wages, EPIC also explores a variety of questions about how cash flow management tools can help workers take control of their finances. How are workers actually using these tools? What are the results? And what does an effective cash flow management product look like—one that builds real savings and reduces workers’ […]

Trust in the News 2017-08-04T10:17:27+00:00

Meet Neighborhood Trust’s New Product Development Team

Neighborhood Trust has refined our in-person Trusted Advisor model for over 20 years. We know it works, and we know that it’s a powerful tool for helping low-income people disrupt the cycle of poverty. But we also know that the need for trusted and relevant financial counseling extends far beyond our reach. Nationally, 74% of low-income families are living paycheck to paycheck and without a savings cushion.

To meet this need, we set up an in-house fin-tech shop that will specialize in creating the digital tools for serving more clients, and serving them effectively. We’ve put together a product development team that will work hand-in-glove with our expert financial counselors to create a suite of targeted fin-tech products that not only mirror our core model of trust, but create new opportunities […]

Meet Neighborhood Trust’s New Product Development Team 2017-06-29T16:56:06+00:00