#4088: Rivermark Community Execs Share How ALICE is Uplifting Consumers and Communities...

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Seth Schaefer, EVP and Chief Impact Officer at Rivermark Community Credit Union, and Ryan Halley. SVP Financial Wellness at Rivermark Community Credit Union, joined us on the show to share how credit unions, including Rivermark Community, can use ALICE (Asset Limited, Income Constrained, yet Employed) reports to better serve a very specific group of members that just about every credit union has to ultimately uplift those communities.

Seth and Ryan discussed how Rivermark Community first got involved with ALICE data, and what made it clear that this was a framework worth integrating into their financial wellness strategy.

They also addressed the op-ed they co-authored that mentions roughly half of Rivermark’s members and staff fall below the ALICE threshold -- and how this reality has shaped their internal culture and approach to member engagement.

Seth and Ryan talked about United Way’s ALICE research that has shed light on the realities faced by struggling households, sharing some of the most surprising or illuminating insights that came out of that work.

In addition, they commented on how they balance short-term relief for ALICE households, like small-dollar loans or simplified checking, with long-term financial empowerment and stability -- providing examples where ALICE data directly informed a partnership or community investment decision for Rivermark, like a specific housing, childcare, or financial education initiative.

Ryan and Seth addressed some of the biggest misconceptions they encounter about households living above the poverty line but still struggling financially -- and how they are working to challenge those narratives.

As Rivermark looks toward the next few years, they shared how they see ALICE data continuing to shape their financial wellness or community development priorities.

Lastly, credit unions, like Rivermark, exist to meet challenges like this -- with a mission that goes beyond banking. Their aim is to strengthen financial wellness for individuals and the communities they serve. That commitment is reflected in Backbone, a coalition of credit unions, which Rivermark is a part of, dedicated to advancing community well-being and ensuring families have the support they need to thrive.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.