Insights

Resources for Individuals and Institutions

Our tools and insights offer individuals expert guidance on personal finance and provide institutions with a window into the complex financial lives of workers.

Resources for Individuals and Institutions

Our tools and insights offer individuals expert guidance on personal finance and provide institutions with a window into the complex financial lives of workers.

For Individuals

Direct Cash Relief

Human Stories of the Coronavirus Pandemic

Neighborhood Trust recently partnered with SaverLife to distribute $1,000 checks generously funded by Humanity Forward to Bronx residents financially impacted by the coronavirus.

Our clients are among the hardest hit financially by the coronavirus pandemic, the hardest to reach, and most likely to be unsupported by the government’s relief efforts. They are small business owners, gig workers, and healthcare workers. They are immigrants, documented and undocumented. They are working parents who unexpectedly have to pay for childcare now that school is closed. They are children who now have to support parents who are out of work. They are overloaded by credit card and student loan debt and wondering how they’re going to pay their rent. They are weary of a financial system that has taken advantage of them far too many times.

The $1,000 our clients received has been a lifeline for so many, a sign of hope when things were bleak.

Read their stories

Direct Cash Relief

The Role of Human Touch in Emergency Cash Relief

In March 2020, as the U.S. realized the severity of the coronavirus pandemic and prepared for an economic shut down, Neighborhood Trust Financial Partners and SaverLife—two nonprofit fintechs dedicated to financial security and inclusion for working families typically left out of the financial system—anticipated the devastating impact the financing crisis would have on low-to-moderate income families.

Given our existing partnership and a shared belief in combining mission with technology, Neighborhood Trust and SaverLife brought together our complementary strengths. Neighborhood Trust utilized its TrustPlus financial coaching to help workers navigate financial shocks and link them to smart financial tools and products. SaverLife leveraged its tech infrastructure to turn a savings platform into a cash distribution platform, deploying this same technology to send money straight to those who need it. Together, we launched an emergency cash relief and coaching effort to disburse money quickly and to help recipients build and pursue a financial plan.

The resulting collaboration on program and user experience design, recruitment of vulnerable families, onboarding support, cash disbursement, and financial coaching to help cash recipients make a financial plan was an extensive effort that came together in just a few weeks.

Read about the effort and results

Personal Finance Coach

Spring Clean Your Finances

TrustPlus Personal Finance Coach Elise Nussbaum says the “beginning of spring is an excellent time to take stock of ways you can make your own life more pleasant, manageable, and secure”. Start today by planning for your tax refund and reviewing your credit report, spending, and beneficiaries.

Read the blog post

For Individuals

Direct Cash Relief

Human Stories of the Coronavirus Pandemic

Neighborhood Trust recently partnered with SaverLife to distribute $1,000 checks generously funded by Humanity Forward to Bronx residents financially impacted by the coronavirus.

Our clients are among the hardest hit financially by the coronavirus pandemic, the hardest to reach, and most likely to be unsupported by the government’s relief efforts. They are small business owners, gig workers, and healthcare workers. They are immigrants, documented and undocumented. They are working parents who unexpectedly have to pay for childcare now that school is closed. They are children who now have to support parents who are out of work. They are overloaded by credit card and student loan debt and wondering how they’re going to pay their rent. They are weary of a financial system that has taken advantage of them far too many times.

The $1,000 our clients received has been a lifeline for so many, a sign of hope when things were bleak.

Read their stories

Direct Cash Relief

The Role of Human Touch in Emergency Cash Relief

In March 2020, as the U.S. realized the severity of the coronavirus pandemic and prepared for an economic shut down, Neighborhood Trust Financial Partners and SaverLife—two nonprofit fintechs dedicated to financial security and inclusion for working families typically left out of the financial system—anticipated the devastating impact the financing crisis would have on low-to-moderate income families.

Given our existing partnership and a shared belief in combining mission with technology, Neighborhood Trust and SaverLife brought together our complementary strengths. Neighborhood Trust utilized its TrustPlus financial coaching to help workers navigate financial shocks and link them to smart financial tools and products. SaverLife leveraged its tech infrastructure to turn a savings platform into a cash distribution platform, deploying this same technology to send money straight to those who need it. Together, we launched an emergency cash relief and coaching effort to disburse money quickly and to help recipients build and pursue a financial plan.

The resulting collaboration on program and user experience design, recruitment of vulnerable families, onboarding support, cash disbursement, and financial coaching to help cash recipients make a financial plan was an extensive effort that came together in just a few weeks.

Read about the effort and results

Personal Finance Coach

Spring Clean Your Finances

TrustPlus Personal Finance Coach Elise Nussbaum says the “beginning of spring is an excellent time to take stock of ways you can make your own life more pleasant, manageable, and secure”. Start today by planning for your tax refund and reviewing your credit report, spending, and beneficiaries.

Read the blog post

For Institutions

WORK AND DEBT REPORT

Neighborhood Trust’s View

Workers’ Reliance on Debt and the Role of the ‘Nature of Work’

The majority of American workers rely on debt to make ends meet. This debt is often “bad debt,” defined broadly as that which borrowers are unable to pay back at an affordable cost or within a reasonable time frame (e.g. payday loans). Debt operates as the low-income worker’s bridge capital, the only solution available for the challenges that define poverty today: persistently thin margins and inability to weather financial shocks. These challenges, and workers’ resulting debt burdens, are a product of low-quality jobs, characterized by low-wages, volatile cash flow, unpredictable hours, and insufficient benefits. Expensive, burdensome debt is then only further exacerbated by a landscape of financial services and policies that fail to meet the needs of workers in these low-quality jobs….

Read the full Report

TRUSTPLUS AS A FEATURE OF WORKER-FOCUSED FINTECHS

Cultivating a fintech marketplace that contributes to worker prosperity

Today financial services firms are recognizing the need to shift from digital-only approaches back to a focus on human interaction. Fintechs especially have seen that real human guidance builds trust with customers and drives both product engagement and smart product usage.

TrustPlus is offered as a much-needed human trust factor, as a product feature integrated into select fintechs that aim to solve worker financial insecurity.

TrustPlus Fintech Brief

Read Neighborhood Trust’s White Paper: Solving the Human Touch Deficit in Fintech

RE-IMAGINING THE WORKPLACE AS A HUB FOR FINANCIAL WELLNESS

A New Vision to Leverage HR Processes to Improve Employees’ Financial Health

Financial concerns are Americans’ number one source of stress. Employers have woken up to this reality in recent years, and more companies are investing in HR benefits that aim to improve employees’ financial wellness.

For Institutions

Work and Debt Report

Neighborhood Trust’s View

Workers’ Reliance on Debt and the Role of the ‘Nature of Work’

The majority of American workers rely on debt to make ends meet. This debt is often “bad debt,” defined broadly as that which borrowers are unable to pay back at an affordable cost or within a reasonable time frame (e.g. payday loans). Debt operates as the low-income worker’s bridge capital, the only solution available for the challenges that define poverty today: persistently thin margins and inability to weather financial shocks. These challenges, and workers’ resulting debt burdens, are a product of low-quality jobs, characterized by low-wages, volatile cash flow, unpredictable hours, and insufficient benefits. Expensive, burdensome debt is then only further exacerbated by a landscape of financial services and policies that fail to meet the needs of workers in these low-quality jobs….

Read the full Report

TRUSTPLUS AS A FEATURE OF WORKER-FOCUSED FINTECHS

Cultivating a fintech marketplace that contributes to worker prosperity

Today financial services firms are recognizing the need to shift from digital-only approaches back to a focus on human interaction. Fintechs especially have seen that real human guidance builds trust with customers and drives both product engagement and smart product usage.

TrustPlus is offered as a much-needed human trust factor, as a product feature integrated into select fintechs that aim to solve worker financial insecurity.

TrustPlus Fintech Brief

Read Neighborhood Trust’s White Paper: Solving the Human Touch Deficit in Fintech

RE-IMAGINING THE WORKPLACE AS A HUB FOR FINANCIAL WELLNESS

A New Vision to Leverage HR Processes to Improve Employees’ Financial Health

Financial concerns are Americans’ number one source of stress. For employees, financial worries affect their focus and productivity on the job, leading to profitability losses for companies. Employers have woken up to this reality in recent years, and more companies are investing in HR benefits that aim to improve employees’ financial wellness.