FutureTrack® by Union Savings Bank, a Goal-Based Planning Service Offers Unique Combination of Personal Coaching, Financial Insights and Digital Tools
Union Savings Bank, a Danbury, Conn.-based community bank, announces the availability of “FutureTrack® by Union Savings Bank,” a goal-based planning service for customers. The program is designed to help customers achieve a variety of life goals – home ownership, starting a family, college planning, saving and budgeting, retirement and more – through one-on-one support with personal FutureTrack coaches and on-going financial insights and digital tools for managing finances.
“We know people have diverse financial goals at varying stages of life, and each person defines success differently. But going it alone can be daunting,” said Rick Judd, USB’s Executive Vice President overseeing FutureTrack. “FutureTrack is an opportunity for people to finally feel like they are not tackling financial decisions on their own. Our FutureTrack coaches will help guide people so they can tackle life goals one at a time, building financial habits that will help them throughout their financial journey.”
Judd also stated that with inflation rising and recent studies showing that nearly two-thirds of Americans are considered financially unhealthy, FutureTrack is more important than ever.
The first step with FutureTrack (click to view :15 videos) is to book an appointment with the FutureTrack team for an assessment. A FutureTrack coach will ask questions about the person’s current financial situation, future goals, both short- and long-term. From there, the coach and “FutureTracker” set a plan on how to achieve those goals. The FutureTrackers will then receive frequent check-ins, educational materials, and recommendations to support them on their unique financial journey. To book an appointment, people can visit any USB branch, book an appointment online, or call the Customer Service Center at 866-872-1866. To become a “FutureTracker” and receive ongoing support, a relationship with USB is required, which enables the customer to take full advantage of the digital tools.
Judd also explained that FutureTrack provides the perfect combination of human and technological support that people desire. “Access to ongoing coaching with an assigned FutureTrack coach with regular check-ins, our artificial intelligence (AI) tool like Spending Insights that help monitor spending habits, and USB Round-Up that enables customers to round up USB debit card purchases and automatically move that money into a savings account, plus educational information – all work together to help customers achieve their goals. We know there is a significant need for this kind of service based on industry research and feedback from our customers, and we don’t believe there’s anything quite like FutureTrack in the local community bank space.”
According to Forbes “Most consumers are ’goal-oriented’ and focused on long-term savings goals. When it comes to those goals…people are hungry for more help reaching them and personalized advice at key moments. Increasingly, that help could come from artificial intelligence. A recent Accenture survey of North American banking customers discovered 46 percent are willing to use ‘robo-advice,’ 40 percent would consider switching banks to get more personalized service, and 39 percent said they want their financial institution to provide ‘actionable financial advice on a proactive, real-time basis.’”
Judd adds, “This is not a one-and-done program ─ it is an ongoing understanding of the customer and their financial goals. FutureTrack is here for our customers throughout their journey, no matter the changes along the way.”
In terms of the certified coaches, there are currently 23 Union Savings Bank FutureTrack coaches, and the Bank has more currently going through the certification process. The plan is to add more coaches on an on-going basis, as well. Each coach has completed extensive training through BVS Performance Solutions, a leading financial training company. The coaches are also trained to help customers navigate the various products and services Union Savings Bank offers and can direct customers to various subject matter experts, like mortgage loan originators, financial advisors, and business banking loan officers.
Judd said that FutureTrack is yet another example of how the bank is using technology combined with personal service to benefit customers in their daily lives. “This service is designed to enhance the customer experience and help our customers feel like they have a trusted partner they can rely on. It’s less transactional and more relationship-driven and ultimately helps improve financial well-being, all of which are part of our mission.”
For more information, please visit FutureTrack www.unionsavings.com/futuretrack.
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $3.0 billion mutual bank dedicated to being the bank of choice. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment, trust and insurance products throughout western Connecticut with 25 offices in Bethel, Brookfield, Canton, Danbury, Goshen, Kent, Litchfield, Marble Dale, Monroe, New Fairfield, New Milford, Newtown, Ridgefield, Roxbury, Southbury, Torrington and Washington Depot. The bank provides financial services to individuals, businesses, not-for-profit organizations, and government entities through its commercial, residential and consumer lending, corporate services, retail banking and wealth management divisions. Please visit www.unionsavings.com for more information. Member FDIC. Equal Housing Lender.
Union Savings Bank
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