#3118: How Astera's 'EmpowerME!' Financial Health Initiative Changing Members' Lives...

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Astera Credit Union President/CEO Martin Carter stopped by the show to share how his credit union's financial health initiative, called "EmpowerME!," has literally changed lives. Tom says participants have raised their credit scores by over 100 points, many have become homebuyers, and much more.

Martin explained how “EmpowerME!” works to help members and employees, discussion the program's two paths that provide opportunities to improve their financial health and wellbeing. Those two paths include a self-service platform and a coach-guided platform. He points out the target audience for each, as well.

Martin discussed the reasoning behind EmpowerME!, as Astera is a low-income designated credit union that recognized the significant need to help members with their financial wellness.

He also shared anecdotes and success stories as a result of this initiative, acquiring and retaining 208 unique site users who have completed 762 activities, unlocking 349 achievements and earning 743 learning badges in the self-service program. They have had 10 members and eight employees enrolled in the coach-guided program so far.

Some of the success stories they have had include members whose credit scores have improved by more than 100 points, members who had bad credit but turned it all around (thanks to the program) and became homeowner, members who have learned smart budgeting practices to build emergency savings, and much more.

Martin also shared some goals he has for his credit union leveraging this initiative -- being a differentiator is one of them. And, lastly, he provided some sound advice for other credit unions looking at doing something similar.

Very inspiring talk with Martin, whose credit union is definitely making a difference and changing members' lives with EmpowerME!. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.