Our work
Financial health and well-being for all
Financial health considers the totality of an individual’s financial life—it includes income, entrepreneurship, housing, savings, credit and debt, transportation, taxes, childcare, healthcare and more. By focusing on the interconnectedness of all these financial variables, SaverLife is able to understand how daily life - like getting to work, paying utility bills, or caring for a sick family member — correlates to our members' ability to be resilient, achieve stability and pursue opportunities over the course of their financial health journey.
Our members, and people like them who live on low-to-moderate incomes face everyday realities and challenges that impede their ability to improve their financial health:
Income: The top barrier to financial health for our members is insufficient and inconsistent income
Cost of living: The cost of consumption for our members is too high
Debt: Our members take on high levels of debt with high interest rates due to the lack of sufficient income, lack of liquid assets, and access to affordable financial products.
Financial inclusion: Financial products rarely address or take into account the everyday realities and challenges that people living with low to moderate income face in their efforts to build financial stability.
It’s time to change the balance
SaverLife empowers members to improve their financial health in three ways — through our well-designed fintech product, through our data-driven research, and as a community builder and ally that advocates for a more inclusive financial system. This positions us to be an informed and trusted partner for policy makers, financial institutions and the financial health sector.
Our fintech product
Through our product, we provide a personalized experience that includes financial content, savings rewards and incentives, trusted referrals for products and services, access to a supportive online community, and opportunities to engage in our advocacy and policy work. Our product empowers our members to improve their financial health:
56% of SaverLife members improve their financial health score at 6, 12, and 18 months after joining
Members double (2.4x) their savings rate
58% of members deposit at least $500 within six months of joining
Members save 15% of their income in the first year after joining
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Our data and research
As a member-first organization, we collaborate with our members to publish and share groundbreaking reports and publications that leverage the financial data and personal experiences they entrust us with. Our financial product gives us insights into our members’ financial health in real time over time, rather than at a single point in time, we are able to:
Track emerging financial trends
Test hypotheses
Provide relevant insights and recommendations that are reflective of our members’ evolving needs
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Our advocacy and allyship efforts
As an ally, we work to ensure our members have a greater voice in the system – with the aim of building power and ownership over the programs and services that impact their lives. We collaborate with members to learn about the impact of policies and systems on their lives then create opportunities for a larger community of financial institutions, philanthropist, and policy makers to examine their roles and a align on a path forward to protect and improve the financial health of people living on low-to-moderate incomes.