Oasis Financial Offers Customers Access to One of the First Financial Resource Sites Developed with Emergency Preparedness in Mind
CHICAGO, Apr. 3, 2017 /PRNewswire/ --
For the last fifteen years, the nation's largest consumer legal funding provider, Oasis Financial, has served consumers facing a financial crisis after an emergency or accident, and talked to people daily living paycheck-to-paycheck. To learn more about Americans' perceptions of emergency savings, Oasis commissioned an in-depth public opinion survey from the Harris Poll last year. The results were staggering, but not shocking: Nearly two-thirds of us aren't prepared to weather a financial crisis, which can be caused by accident or injury.
"We knew we needed to do our part to fix the problem and help our customers get on a path toward financial wellness," said Ralph Shayne, CEO of Oasis Financial. "We also knew we couldn't do it alone."
Oasis partnered with the Alliance for Responsible Consumer Legal Funding (ARC), a non-profit organization, to develop and launch ARCFinanciallyFit.com (Financially Fit), a website providing consumers with tools to achieve financial literacy and bolster emergency savings. The site officially launches today in conjunction with the start of National Financial Literacy Month.
Financially Fit's easy-to-digest web platform presents the best expert resources to help consumers combat a financial crisis, form good spending habits, and prepare for the future. The site also offers free one-on-one budgeting help through a partnership with Money Management International (MMI), the largest non-profit credit counseling agency in the country.
"Most Americans are one job loss, one accident, or one health emergency away from financial crisis," said Shayne. "Emergencies are far more damaging for those who haven't prepared for the unexpected. Providing resources like Financially Fit allows us to be an ally in our customers' efforts to prepare."
Oasis engaged in a beta test of the site with ARC starting in December 2016. After four months of testing, the site garnered over 3,000 views and more than 660 people called MMI to get help. "We are looking forward to sharing this site with even more people," said Shayne.
"It was great to work together on this project," said Rob Johnson, Executive Director of ARC. "We took a holistic approach to the site, because providing concepts isn't enough. Implementing a budget can be hard to do alone, but it's necessary when building up emergency savings. That's why we wanted to connect people with budget counseling, so they can take control of their financial futures and not let the unexpected turn their lives upside down."
The Alliance for Responsible Consumer Legal Funding (ARC) is a diverse coalition of consumer legal funding providers, consumers, academics, community activists, policy makers and other supporters. It was established to preserve legal funding as a choice for the many Americans who have suffered an unexpected economic loss due to an accident and have a pending legal claim. Legal funding can help families pay for immediate personal needs such as rent, mortgages, car repairs, utilities and groceries while they wait for their claims to settle fairly. ARC promotes practices and regulations that lead to informed decisions between individuals and their attorneys, so that families have more options—not fewer. ARC advocates at the state and federal levels to recommend regulations that preserve consumer choice. ARC member providers handle the majority of all legal funding transactions in the United States. READ MORE.