Personal Finance Employee Education Fund
The Center on Business and Poverty has run The Personal Finance Employee Education Fund (PFEEF) for several years and is currently in the process of bringing in new leadership both in the US and the UK.
Historically, PFEEF’s mission has been to provide support to organizations and their employees as they take charge of their financial well-being. PFEEF has acted as a broker for groups that offer online and in-person financial literacy courses – helping leverage technology to improve financial well-being through ongoing financial literacy training.
Working with employers, more than 300,000 employees have completed in excess of 800,000 hours of training with PFEEF’s support. The research shows up to a 70% improvement in financial knowledge, attitudes and behavior – creating fewer late fees paid related to their credit cards, decreased debt, and less stress. Organizations that empower their employees to take charge of their financial well-being show results that include improvement in workplace productivity, employee morale, and loyalty.
Through the Employee Survey and Personal Financial Wellness Scale™, we have assisted more than a million employees and others from over 850 employers reliably measure their perceived financial distress/financial well-being. The PFW Scale has also been used as a benchmark measurement for the efficacy of financial literacy programs. It is the longest-used survey in the workplace-based financial wellness field and has been used, in different forms, millions of times, as a benchmarking component.
For more information about the Personal Wellness Survey and Scale, contact John Hoffmire at firstname.lastname@example.org.