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Thursday, May 30, 2024

City National Bank Collaborates with iGrad to Provide the Enrich Personalized Financial Wellness Program to Its 150,000 Members

City National Bank of Charleston, W.V. has recently announced its partnership with the San Diego-based financial education company iGrad, bringing the award-winning Enrich™ financial wellness platform to its 150,000 members across West Virginia, Kentucky, Virginia, and Ohio. The Enrich platform offers a personalized financial wellness program, featuring the Your Money PersonalityTM financial behavior assessment, which analyzes each user’s financial “personality.” In addition, the platform provides financial education courses with personalized action plans on topics such as budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning, retirement and home affordability analyzers, a suite of student loan and higher education tools, personal finance calculators, and a real-time budget tool.

Enrich, used by over 20,000 employers and 300 financial institutions nationwide, engages users with the most relevant content based on their financial situation and stage of life. The platform includes dynamic tools and courses that deliver a highly personalized and interactive learning experience on various financial topics, including student debt, mortgages, investing, and long-term care.

According to a 2021 Capital One CreditWise survey, 73 percent of Americans rank their finances as the most significant source of stress. Enrich’s users are regularly prompted to update their stress score to gauge the correlation between improved financial wellness and stress levels. Recent Enrich data revealed that as participants improved their financial understanding, their stress levels dropped by an average of 23 percent. The data also showed positive behavior changes among program participants, including an increase in users with emergency savings funds covering three to six months of expenses, users who pay their credit cards in full every month, users getting on track with their financial goals, and users contributing to their retirement plan.

iGrad’s Vice President of Business Development, Todd Woodlee, emphasized how Enrich can benefit people of all income levels and in all phases of life, highlighting City National Bank’s commitment to behavior-changing financial wellness education by offering Enrich to its 150,000 members.

iGrad is a San Diego-based financial technology company that offers artificial intelligence-powered financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers, and more than 300 financial institutions. iGrad’s Your Money PersonalityTM was recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad also received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit https://www.enrich.org.

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