OAK RIDGE, Tenn.–Y-12 Federal Credit Union said it has developed and launched a program called Y-Fi @ Work, which it is describing as a comprehensive financial education program dedicated to supporting organizations that actively seek to engage their employees on the importance of financial independence.
The program is free, and there are no membership requirements, Y-12 FCU said.
“Y-Fi @ Work is backed by an award-winning financial literacy platform, educational resources customized to employee needs, and instructor-led training offered onsite or virtually,” the credit union said. “The program also provides self-directed online modules with budgeting, saving, and understanding credit.”
Lack of Critical Skills
“Statistics show that most Americans lack the critical skills to live financially healthy lives,” said the credit union’s financial outreach manager, John Nolan, who is managing the program. “This program is much bigger than banking or who you choose to bank with. The nation is experiencing a financial literacy crisis. We believe an essential part of our credit union’s framework is to provide solutions that help people discover financial freedom. I am thrilled to see lives changed through Y-Fi @ Work, and I am grateful to our partners who share our passion by supporting their employees through the program.
Y-12 noted it is introducing the program at the same time data show more than two-thirds of Americans are financially unhealthy, and that 42% of Americans say finances negatively impact their mental health.
Companies Sign On
According to Y-12, when Y-Fi @ Work launched, The Quality Family of Companies was the first to partner with the program, offering it to their 1,800 employees as part of its comprehensive benefits package.
“We appreciated the many benefits that Y-Fi @ Work program has brought to our staff at Quality Private Duty Care,” said HR Director Kristie England in a statement. “It has really helped our staff to get answers to those complicated financial questions and gain understanding of their personal finances. This is priceless knowledge, especially during these difficult financial times.”
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