Financial Wellness at Work

The Financial Wellness at Work pilot project supports Iowa State University employees with additional financial wellness support services. To help reduce financial stress, increase financial stability, and improve overall financial well-being, employees can engage in group financial education workshops and one-on-one consultations that include resource coordination, financial counseling, or financial coaching. The Small Dollar Loan Program is a new addition to Iowa State University employees' voluntary employee benefits package.

Financial well-being is determined by the extent to which you feel that you:

  • Have control over your day-to-day, month-to-month finances
  • Have the capacity to absorb a financial shock
  • Are on track to meet your financial goals
  • Have the financial freedom to make the choices that allow you to enjoy life

Financial Education Workshops

Cost: No cost, Adventure2 points available
Format: Virtual sessions from noon to 1 p.m. 

Three workshops are offered at least once each semester virtually; additional topics are offered periodically. 

  1. Mission Possible: Saving Saving for short-term needs or long-term goals can feel like a challenge, but there are strategies to help you succeed. Leave this session with clearer motivation, realistic goals, and a plan to move forward. Some ideas will not be new to you, but you will put them into a new savings plan to help make real progress. 
  2. Borrowing Smart: Review basic credit principles with a focus on reducing the cost and risk of borrowing. Discover ways to build or maintain a good credit history and credit score, monitor your debt levels to avoid excessive indebtedness, and learn about tools/strategies to reduce credit costs. Review credit protections under the law and resources for assistance when needed.
  3. Money Smart: Taking Control of Your Money (2-part): Focus on making money choices with your priorities in mind. Get the “big picture” overview of what it means to be in control of your money on a month-to-month basis and specific strategies to make that easier. Learn how to make a realistic spending plan, and how to put the plan into action.  
  4. Time for a Financial Checkup: A review of your family’s financial situation is a great way to ensure you are moving in the right direction–it can also boost your momentum. This session will introduce a practical tool for reviewing your financial status and help clarify your financial goals.

Workshops are also available for specific employee groups or units on request, either virtually or face-to-face. Led by Barb Wollan, Human Sciences Specialist with Iowa State University Extension and Outreach.

One-on-One Financial Well-Being Consultations

Cost: Confidential, no cost
Format: Meet face-to-face (Financial Counseling Clinic in 1337 Palmer or somewhere convenient to you on campus) or via WebEx.

Topics may include:

  • Learn about community resources
  • Develop spending plans
  • Prioritize bills
  • Access financial products and services
  • Manage credit and debt
  • Plan for large expenses (car, house, college)
  • Manage insurance coverages
  • Discuss investment basics
  • Plan and save for emergencies, retirement, or other financial goals

Contact Carolyn, an Accredited Financial Counselor®, to schedule a consultation.

Small Dollar Loan Program

The Wellness at Work Small Dollar Loan program is designed for Iowa State University faculty, staff, and postdocs who find themselves in need of a small loan to help them address a short-term financial situation. The small-dollar loan offered by Greater Iowa Credit Union, is a new addition to the voluntary employee benefits package for Iowa State University employees.

The loan is confidential, no cost, and low interest. A credit check and Iowa State University employment are required. A credit check is used to verify identity, residence, and bankruptcy status. Borrowers must establish a Greater Iowa Credit Union membership with a minimum $5 initial deposit or already be a member. 

  • Loan Amount: From $500 up to $2,500
  • Loan Term: 12-month or 24-month terms available
  • Interest Rate: 9.99% APR
  • Application Process: Complete an application at a Greater Iowa Credit Union location. In-person application is required. No credit score is used in the loan decision.
  • Approval and Delivery of Loan Funds: Same business day approval is typical for the in-person visit. Funds typically are available within 24 hours of approval. Funds can be deposited directly into an applicant’s financial account, or a check can be drafted to a specific business (e.g., car repair shop).

If you are interested in applying for the Wellness at Work Small Dollar Loan, or want to learn more, visit the Greater Iowa Credit Union program website, one of their locations, or call 1-800-296-9064.

The Financial Wellness at Work program is made possible, in part, by a grant from the FINRA Investor Education Foundation through a partnership with United Way Worldwide.FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of broker-dealers. Not part of the government, FINRA is a not-for-profit organization authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly.

Financial Wellness in Your Community

If you are interested in exploring a Financial Wellness at Work model in your community, contact Suzanne Bartholomae, 515-294-9528.