TrueNorth Launches Center for Financial Well-Being

News provided by

Jul 18, 2023, 09:17 ET

The platform, powered by FinFit, provides financial wellness tools
to TrueNorth clients' employees.

CEDAR RAPIDS, Iowa, July 18, 2023 /PRNewswire/ -- TrueNorth Companies, L.C., a closely and privately held risk management and insurance brokerage firm headquartered in Cedar Rapids, Iowa, announced today the launch of its Center for Financial Well-Being, which is powered by FinFit, the most comprehensive financial wellness platform available to U.S. employers. With almost half the US working population experiencing financial stress, TrueNorth is offering this solution to ensure its clients and their employees have the tools to make positive financial changes in their lives.

This resource can help manage the risk that comes from financially distressed workforces. The platform offers financial education and resources to help create a safer and more productive work environment.

"The financial hardships facing working Americans is staggering. They've battled and persevered through one crisis after another, but the pressure won't let up. TrueNorth is proactively taking that step, extending that hand, to provide the tools necessary for employees to thrive even during the toughest of times," Tim O'Neil, Senior Workforce Solutions Specialist at TrueNorth Companies, said.

According to a recent survey from FinFit, financial stress has a significant impact on performance at work. Almost nine out of 10 workers suffer from anxiety, 60 percent suffer from depression, and 17 percent have sleepless nights.

The Center for Financial Well-Being includes access to unlimited financial coaching for TrueNorth clients' employees, and is organized around four principles that help contribute to improved financial well-being:

Awareness. The platform takes employees through a health checking and personalized assessments that recognize that every person has unique spending, savings, planning and buying habits. The platform provides action plans and tools specific to each worker's needs.
Motivation. It's hard work for people to change their relationship with money. The platform engages workers through assessments, education, and budgeting.
Action. The platform gives each worker a real-time look at their finances: where they are doing well, and where they may be struggling. It also provides calculators for any financing challenges they may face.
Success Nudges. Real-time notifications and rewards provide instantaneous feedback for workers when they are reaching their goals.

For business leaders interested in learning more about the Center for Financial Well-Being, visit the TrueNorth website here.

About TrueNorth

TrueNorth® Companies, L.C. is a risk management and insurance brokerage firm focused on creating value for our clients, colleagues and communities. The organization is designed to maintain its closely and privately held business model supported by an organic growth and internal perpetuation strategy. TrueNorth is headquartered in the Midwest with offices in Iowa, Illinois and Colorado and colleagues located in over 20 states across the nation. Learn more at truenorthcompanies.com.

About FinFit

FinFit was established in 2008 and currently services over 500,000 organizations across the United States. The company's SaaS-based model provides holistic financial wellness services that include a personalized financial assessment, premier educational resources, online money management tools, financial coaching, financial solutions, early wage access, spending and savings accounts, student loan services, and a member rewards program. Focus on creating positive, healthy financial behaviors and products to support behavioral change has proven to reduce financial stress and increase employee retention by more than 25%.

SOURCE FinFit