Help Members Navigate Debt w/"Debt In Focus" Posted by AVCU on 12:48 PM

Helping members take back control of their financial lives has just gotten much easier (and cheaper) thanks to the Filene Research Institute's "Debt in Focus." Over the last twelve months the Institute's i3 group, comprised of innovative credit union executives, tackled a problem that has frustrated financial advisors and credit unions for decades. As the number of sources for financial guidance and counseling have seemingly eclipsed the huge number of people who actually need such help, the nagging question remains "why don't more people use these resources?" Instead of creating yet another financial literacy program, Filene i3 examined barriers that inhibit consumers from seeking help.


Most consumers are intimidated by financial advisors because:

• It's embarrassing to discuss something as personal as finances;
• Traditional financial counseling is inconvenient; and
• Financial counseling sessions are often so full of industry jargon that consumers end up more confused than when they started.

Filene Response: Debt in Focus was created as an anonymous, online financial assessment tool written in easy-to-understand language to help members navigate debt. In the past few weeks, over 150 individual credit unions have purchased this powerful tool on behalf of members and over 150,000 members are using Debt in Focus. The retail price for an annual non-member license of Debt in Focus is $1199, plus a one-time setup fee of $150.

However, the price is drastically reduced for members of the Institute. For only $599 (a 50% discount!), your credit union can offer its field of membership 24/7 access to a powerful tool that puts their financial lives into perspective, and directs them back to your products and services for solutions. the program is a robust library of marketing information, tutorials, and implementation tips, including five ready-to-implement marketing campaigns. You will also get the opportunity to interact with peers who are also trying to maximize the impact of their Debt in Focus installation.

Take a test drive at http://cts.vresp.com/c/?FileneResearchInstit/2fdfc53bd8/6a03ac403b/e52ece8375, or sign up at http://cts.vresp.com/c/?FileneResearchInstit/2fdfc53bd8/6a03ac403b/e8e09a71e8/913341-w85RJ0lPNK