Credit Building at the Workplace: Working Credit Sees Real Results

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“Organizations are increasingly offering financial wellness programs as a workplace benefit, as they understand these programs are both good for their employees’ well-being and for their company’s bottom line.”

- Urban Institute


Congratulations to New Coast Foundation grantee, Working Credit NFP, on the impressive outcomes the organization continues to achieve in helping working families establish and build strong credit scores.

Researchers at the Urban Institute, a Washington D.C.-based think tank that carries out economic and social policy research to "open minds, shape decisions, and offer solutions", conducted a study on Working Credit’s workplace benefit program, which is designed to help employees establish and build strong credit scores through credit-building workshops and counseling at the workplace.

The study found that financial wellness programs are on the rise in the workplace and are now considered a priority by nearly 6 in 10 employers. Additionally, a review of outcomes data from Working Credit’s employee benefits program found that Working Credit’s program helped lower-wage workers make impressive increases in their credit scores and improve their access to credit. In fact:

  • Eighteen months after starting the program, the share of Working Credit participants with prime credit scores increased from 37 to 51 percent.

  • The median credit score increased for black participants by 44 points, for Hispanic/Latinx participants by 45 points, and for those making $15 to $20 an hour by 62 points.

  • Rates of debt in collections or delinquency declined over the 18-month program and continued to decline six months after the program’s end.

More details about the study and additional findings can be found on the Urban Institute’s website here. And, to learn more about New Coast Foundation’s investment in Working Credit, check out their profile page here.

Julie Hoffmann