Financial Wellness Programs on the Rise: Dupaco Leads the Way

November 13, 2024

DUBUQUE, Iowa — Employers have traditionally offered their workforce benefits like healthcare insurance, retirement saving plans and paid time off.  With inflation and cost of goods continuing to rise and a recent study by PWC (2023 Employee Financial Wellness Survey) finding the majority of full-time employees are stressed about their finances, employers have begun adding a new benefit: financial wellness programs.  

Dupaco’s Community Outreach and Education team provides nearly 1,200 employers in Iowa, Wisconsin, and Illinois with financial wellness programs through 1-on-1 coaching, financial education classes and on-demand webinars. 

Financial wellness programs are designed to help employees manage their personal finances more effectively, reducing financial stress, distractions and improving overall well-being.  

“We know when individuals are stressed about their finances, that stress does not stop when they go to work each day,” says Erin Engler, VP of Community Outreach and Education at Dupaco Credit Union. “Financial stressors are a major distraction and can lead to employee turnover, decreased productivity and even injuries.” 

Engler leads Dupaco’s Community Outreach and Education department. A team of employees who travel to business across Iowa, Wisconsin and Illinois providing no-cost on-site, online and on-demand support for companies and their employees.  

Currently, this team serves 1,142 small employer groups. In 2024, they have visited over 970 businesses and completed 150 presentations on financial topics like budgeting, debt reduction strategies and credit improvement.  

“We’re essentially a mobile version of Dupaco’s branches and Learning Labs. We’re bringing Dupaco to members and non-members at a place where it’s convenient to them: their employer,” said Engler. 

PWC reports a significant increase in employers offering financial wellness programs, from 51% in 2012 to 68% in 2023.  

While financial wellness programs are seeing an uptick in popularity, Dupaco has been supporting area businesses and their employees with no-cost financial wellness programs for decades.  

“Providing financial wellness programs is part of our DNA. Dupaco was formed in 1948 by employees of the Dubuque Packing Company to serve the financial needs of their co-workers and families. Dupaco employees would travel to the various meat packing plants to provide financial education and resources. We continue that same philosophy today, traveling to employers and supporting their employees,” said Engler. 

Regardless of company size or hours of operation, Dupaco’s Community Outreach and Education team offers no-cost financial wellness programs for employers. For more information, please visit https://www.dupaco.com/business/employee-benefit-program/.