Financial Resilience Report 2022 Published

Serve and Protect CU have published their Financial Resilience Report for 2022

Serve and Protect CU are proud to have released their latest Financial Resilience Report for 2022. The report aims to highlight the financial challenges our members face, and how a lack of financial resilience can impact an individual’s life.

We first launched our Financial Resilience Reports in 2020, and have produced them on an annual basis since. The reports have provided employers and stakeholders with unique insights into the financial resilience of the Serve and Protect family, which includes employees across the Police, Prison, Military, Fire and Health services.

Ultimately, the report can provide suggestions to organisations on how to better support their employees. From budgeting services, to financial webinars, there are various steps an organisation can take to help build the financial resilience of its employees throughout their career, with some highlighted in this report.

Below are some of the headline stats featured in the report:

  • 31% of respondents said they would not be able to cope financially with a change in circumstances such as relationship breakdown, unemployment, or job loss.
  • Over half of respondents from the Prison & Probation Service would not be able to cope financially with a change in circumstances such as relationship breakdown, unemployment, or job loss.
  • When asked which factor causes the most stress, 53% of Military respondents ranked “Money” as having the biggest impact.
  • Alarmingly, 35% of Prison and 29% of Police respondents admitted that financial worries had impacted their mental health.
  • 91% of our members say that we have helped to improve their financial resilience

At Serve and Protect Credit Union, we are committed to improving the financial resilience of those who serve and protect our nation. To further support organisations in the markets we serve, we have developed a financial resilience programme to help support your colleagues cope financially and prepare them for the financial challenges they may face throughout their career.

Please take some time to read through the latest Financial Resilience Report, published by Serve and Protect Credit Union. We hope that this will prove to be a valuable insight into the financial challenges faced by those who dedicate their careers towards protecting us all.

Download the report!

To download the Serve and Protect CU Financial Resilience Report for 2022, click here

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