July 17, 2018
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Finhabits Partners with Neighborhood Trust to Empower NY Workers Through Wider Access to Retirement Savings Accounts

Finhabits Partners with Neighborhood Trust to Empower NY Workers Through Wider Access to Retirement Savings Accounts

The fintech company and the Federal Credit Union partner to provide workers without access to a 401(k) with an alternative for retirement savings

PR Newswire

NEW YORK, Feb. 13, 2018 /PRNewswire/ -- Finhabits (www.finhabits.com) the bilingual digital investment advisor that specializes in making quality investments and retirement services more inclusive, has partnered with Neighborhood Trust Federal Credit Union, one of the country's leading providers of financial empowerment services.

The new partnership will allow credit union members with no access to a 401(k) plan at work to open an Individual Retirement Account (IRA) through Finhabits' mobile-first platform at a low monthly cost, making investing an easy habit.

Today, many working families struggle to prepare for their retirement. As detailed in a recent report by Finhabits, the problem is particularly acute among workers in small business. "The smaller the firm, the less likely they are to offer any type of sponsored retirement plan... On average, only 10% of U.S. small-sized businesses, that is fewer than 100 employees, offer a retirement plan to employees" (Finhabits, 2017).

Finhabits aims to promote the power of smart financial habits to people who have no knowledge or resources to a 401(k) plan," said Carlos Garcia, the CEO and founder of Finhabits. "Our partnership with Neighborhood Trust is the latest accomplishment for Finhabits after a year marked by significant user growth, especially among minority workers."

Finhabits' full-stack technology solution was developed in-house by a team of financial experts, engineers, and designers in New York City. In 2018, Finhabits continues its mission to make retirement savings and investing more inclusive in our country.

About Finhabits

Finhabits Advisors is an SEC-registered digital investment advisor that makes investing and saving for retirement a habit by combining fiduciary advice with behavioral nudges. The bilingual, mobile-first platform allows users to set up Roth and Traditional IRAs, as well as individual investment accounts in just a few minutes — making it accessible and easy for anyone to start building wealth for their future. For more information, visit finhabits.com.

About Neighborhood Trust

Neighborhood Trust's mission is to empower low-income individuals to become productive participants in the U.S. financial system and achieve their financial goals. For more than 20 years, Neighborhood Trust has integrated financial products and services with counseling and programs that low-income people trust. We don't just lend or educate – we help members roll up their sleeves and take action. In 2017, the Community Development Financial Institutions Fund (CDFI Fund) awarded our credit union with a substantial grant in recognition to its efforts supporting individuals and small businesses to accessing affordable and accessible financial services. Neighborhood Trust FCU holds the "Juntos Avanzamos" accreditation for its commitment to the Latino Community in the United States. For more information, visit us at www.neighborhoodtrustfcu.org.

This is not an offer or solicitation to buy or sell securities. Brokerage services are provided by Apex Clearing Corporation, member of FINRA/SIPC. Non-deposit investments are not federally insured, involve investment risk, may lose value, and are not obligations of or guaranteed by the financial institution.

All trademarks are the property of their respective owners.

Cision View original content:http://www.prnewswire.com/news-releases/finhabits-partners-with-neighborhood-trust-to-empower-ny-workers-through-wider-access-to-retirement-savings-accounts-300597505.html

SOURCE Finhabits

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