This year, HelloWallet has worked with companies across a breadth of industries to provide financial guidance to all American workers. One of the industries that we have seen great results with is retail, and our most recent retail client is The Children’s Place Retail Stores, Inc. (TCP).
Executives at the The Children’s Place wanted to give their employees access to independent financial guidance, so they turned to HelloWallet to provide a benefits-based solution. In the four months since TCP rolled out the benefit to their employees, the company has seen impressive take up rates, high levels of engagement, and increased savings among employees across age and income level. In the past 30 days alone, 39% of the registered members from the company engaged with the application, resulting in cumulative monthly savings contribution changes of $16,891.
Anissa Kurtz, the Director of Benefits at The Children’s Place, is very pleased with the results that she has seen with the new benefit: “Since The Children’s Place began offering HelloWallet in May 2012, 15% of our eligible employees signed on within the first month and the feedback from these employees has been highly positive. We are delighted to be able to offer such a valuable budgeting and planning tool to our employees.”
Among the members who have voiced positive results after using HelloWallet is TCP employee Marlenny Aguirre, who writes, “I was able to lower my interest rates across my credit cards with the suggestions I received. I was also able to clearly see I was spreading myself too thin. I paid off a couple of accounts and now have a little more every weekend in my weekend spending guide.” Another TCP member, Amy Rastogi, said, “Thanks to HelloWallet I finally have my finances under control. I was able to find out exactly what I was spending my money on and re-budget accordingly.”