TrustPlus is a service provided by Neighborhood Trust Financial Partners (NTFP). Neighborhood Trust is a financial services innovator creating financial security for low-wage workers.
CHCA and TrustPlus have been working together since 2014.
An interview with our partner TrustPlus
What services are offered by TrustPlus?
TrustPlus is a workplace-based financial wellness program designed to help low and moderate-income workers improve their financial lives by reducing debt, improving credit, and managing their day-to-day expenses. Our goal is to help as many working Americans as possible get on the path to financial stability.
How did TrustPlus’s partnership begin with CHCA?
TrustPlus values our partnership with CHCA because our organizations both prioritize worker well-being and strive to create opportunities for worker prosperity. As one of our earliest partners, CHCA has always been willing to test new ideas and provide important feedback that helps evaluate our programs.
What is a financial session like?
Financial coaching sessions are generally 30 minutes long. TrustPlus coaches begin the session by inviting participants to share their motivations for signing up and most important financial concerns and goals. They then work with the client to begin developing strategies to resolve problem areas and get on track to reach long-term goals. Clients are encouraged to have multiple sessions and have lifetime access to their financial coach!
What are the financial barriers most CHCA workers face?
Many CHCA workers have had little or no opportunity to learn about the mainstream financial system in the US. As a result, they’ve fallen victim to predatory financial products and flat-out scams that have hurt their credit scores, further reducing their ability to get access to safe, affordable financial products.
What impact do you, Trustplus, see these financial sessions have?
Over time we’ve helped many clients reduce their debt load, especially “bad” debt like collections accounts and high-interest credit cards, and slowly increase their credit scores. More importantly, CHCA clients who work with a financial coach feel empowered to take control of their financial lives. They no longer view the financial system as an inscrutable machine they’re caught up in, but rather a means to an end - something they can make work for them.
Why is this partnership important?
This partnership is important to TrustPlus because it gives us access to a very large number of workers who meet our target demographic profile. We believe we can have a deep impact on CHCA employees when we can get them to engage with the service. It’s also important because of CHCA’s willingness to help us test and iterate on new ideas.
How do TrustPlus services fit into the whole package of benefits that CHCA offers to workers?
CHCA is always looking for benefits that are going to help their population of low-wage workers. CHCA knows that the cost of benefits can be overwhelming, and they work to provide these benefits to their workers at no or minimum cost to the employee.
CHCA as a worker-owned business, values its worker-owners and strives to provide comprehensive benefits to them. We are confident that the services provided by Trustplus have a positive impact on our workers' financial well-being. We trust and appreciate our partnership with TrustPlus because we know that they have our workers' best interests at heart.