Greenlight Survey Data Reveals Family Financial Wellness as a Growth Opportunity for Financial Institutions

Greenlight®, the fintech company that helps families navigate money and life together, today released new survey data revealing a significant opportunity for financial institutions to drive long-term growth and loyalty by prioritizing family financial wellness. In partnership with Researchscape, Greenlight surveyed parents and financial institutions to uncover the financial stress families currently face and how credit unions and banks can provide a meaningful solution.

The data confirms what many families are feeling: Money is the #1 stressor for working parents, with 70% reporting financial anxiety weekly, and financial literacy ranking #1 as the hardest life skill to teach their children.  

“Family financial stress is a quiet epidemic,” said Matt Wolf, Chief Commercial Officer at Greenlight. “Parents want trusted support, and they’re turning to their banks and credit unions for guidance. Institutions across the country like United Community Bank (UCB), Digital Federal Credit Union (DCU), and PSECU are partnering with Greenlight to meet this crucial need by positioning themselves as the trusted financial partners for the next generation, just as the great transfer of wealth begins to unfold.”  

A vast majority of parents (96%) believe it’s essential for banks to offer financial literacy tools for themselves and their children, with parents saying these tools would help reduce stress (79%) and save time (83%). 

This gap presents a significant opportunity, as financial institutions increasingly view family financial literacy as a strategic priority:

• 88% report rising demand

• 71% say it’s key to achieving business goals

• 70% have received customer inquiries about family financial literacy tools

At the same time, institutions are recognizing the need to meet a growing demographic of financially empowered customers, Gen Z and Gen Alpha, where they are: online.  

Survey findings from financial institutions show:

• 69% favor interactive tools

• 67% prefer mobile apps for delivering financial education

• 61% report success engaging younger generations through digital initiatives

“It’s clear that families need convenient, digital-first tools,” said Colt Kraft, SVP/Digital Banking Strategy Manager at WaFd Bank. “Solutions like Greenlight offer app-based learning that plays a key role in our ability to stay relevant, competitive, and meet those family needs by effectively teaching financial literacy.”

You can find more information about the survey in Greenlight’s blog here.