Worcester Business Journal

wbjournal.com | Book of Lists 2022 | Worcester Business Journal 7 Banks ........................................................... 8 Credit unions ............................................... 11 Mergers & acquisitions ................................. 14 SBA lenders ................................................. 16 SBA loan recipients ...................................... 17 BANKING & FINANCE S P O N S O R E D B Y T hroughout the past couple of years, many employers have reevaluated what they look for in employee benefits. While salary, health insurance, and flexible work locations are important – there is a new kind of benefit that can have a major positive impact on the lives of their employees: financial coaching. Just as offering health insurance leads to more employees staying physically healthy, having a coach can reduce financial instability, which is one of the leading causes of stress for workers. Employees who aren't worried about money are more productive and have increased job satisfaction. Workers Credit Union, based out of Central Massachusetts, has a program called Workers Way at Work. It allows companies to offer financial wellness as a company benefit by connecting their employees with certified financial coaches from the Workers Way – the credit union's personalized, judgement-free financial coaching program -- at no additional cost to either the employer or employee. Coaches meet with the individual one-on-one. The coach is there to listen, understand and to provide the tools and support that empower people to make good money decisions, no matter what stage of life they may be in. Working with a Workers Way coach made a world of difference for two Workers Credit Union members, Sean and Edward. They used to pay for everything with credit cards, surpassing what they could afford. Even a simple grocery visit would result in splitting small purchases like milk and bread across several credit cards to avoid hitting the cards' max balance. Through monthly meetings and telephone check-ins, their coach Jerusa equipped Sean and Edward with a comprehensive view of what they were earning and spending and created a plan to tackle their debt and build an emergency savings fund. "Workers Way and Jerusa became a savior," Sean says. "It helped keep us from going under, and it helped us see that there was a different way to live." You can learn more about the Workers Way at Work by contacting Johan Romero Luna, Vice President of the Workers Way for Workers Credit Union at JRomeroLuna@wcu.com. n Workers Credit Union is federally insured by NCUA. Shares and deposits in excess of NCUA limits are fully insured by MSIC. Workers Credit Union is an Equal Opportunity Lender. NMLS#472618. A New Employee Benefit from Workers Credit Union

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