Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Following research showing how many people in the US and UK cannot cover a $400 emergency expense.
00:08-00:13
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
In 2019, we launched our philanthropic flagship, the BlackRock Emergency Savings Initiative.
00:14-00:19
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Thanks to nonprofit partners like Common Cents Lab, Commonwealth, and Financial Health Network;
00:20-00:27
We’re helping more businesses support their employees and customers in one critical component of financial health.
00:28-00:30
“BlackRock//Support Community”
00:31-00:33
picture collage
00:34-00:40
Without emergency savings, low- to moderate-income plan participants were twice as likely to withdraw money from their workplace retirement accounts.
00:41-00:52
Super: Tim Flack
Commonwealth Co-Founder and Executive Director
To me, this just points to a fairly simple intuition that there is a link between short-term financial well-being and long-term financial savings.
00:56-01:03
UPS is also participating in the Emergency Savings Initiative, giving its 90,000 non-union employees a way to save for emergencies within their current retirement plans.
01:06-01:12
Super: BJ Dorfman
UPS Benefits Director
Many people think that 401(k) plans are just for long-term retirement savings.
01:13-01:20
And don’t think of it as a means for short-term savings. So we really had to change the conversation with our employees.
01:22-01:30
In addition to employers, we partner with the entire fintech and payments industry to help bring short-term savings solutions to more people.
Logos: MasterCard, UrbanFT Financial Technology, Self
01:31-01:38
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
At BlackRock, we have a fiduciary duty to help our clients build a better financial future, but more broadly, we have a social responsibility to help.
01:39-01:44
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Millions of people are building a more secure financial future for themselves and their families.
01:45-01:48
Learn more about our $50 million commitment to the Emergency Savings Initiative. Visit savingsproject.org
01:49~End
BlackRock Logo Card” } ]}”>
00:00-00:07
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Following research showing how many people in the US and UK cannot cover a $400 emergency expense.
00:08-00:13
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
In 2019, we launched our philanthropic flagship, the BlackRock Emergency Savings Initiative.
00:14-00:19
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Thanks to nonprofit partners like Common Cents Lab, Commonwealth, and Financial Health Network;
00:20-00:27
We’re helping more businesses support their employees and customers in one critical component of financial health.
00:28-00:30
“BlackRock//Support Community”
00:31-00:33
picture collage
00:34-00:40
Without emergency savings, low- to moderate-income plan participants were twice as likely to withdraw money from their workplace retirement accounts.
00:41-00:52
Super: Tim Flack
Commonwealth Co-Founder and Executive Director
To me, this just illustrates a fairly simple intuition that there is a link between short-term financial well-being and long-term financial savings.
00:56-01:03
UPS is also participating in the Emergency Savings Initiative, giving its 90,000 non-union employees a way to save for emergencies within their current retirement plans.
01:06-01:12
Super: BJ Dorfman
UPS Benefits Director
Many people think that 401(k) plans are just for long-term retirement savings.
01:13-01:20
And don’t think of it as a means for short-term savings. So we really had to change the conversation with our employees.
01:22-01:30
In addition to employers, we partner with the entire fintech and payments industry to help bring short-term savings solutions to more people.
Logos: MasterCard, UrbanFT Financial Technology, Self
01:31-01:38
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
At BlackRock, we have a fiduciary duty to help our clients build a better financial future, but more broadly, we have a social responsibility to help.
01:39-01:44
Super: Deborah Winchell
Global Head of Social Impact and Chairman, BlackRock Foundation
Millions of people are building a more secure financial future for themselves and their families.
01:45-01:48
Learn more about our $50 million commitment to the Emergency Savings Initiative. Visit savingsproject.org
01:49~End
black rock logo card
Expanding access to short-term savings
BlackRock’s Emergency Savings Initiative brings together partner companies and nonprofit financial health experts to make saving easier and more accessible for low- to moderate-income Americans and the United Kingdom.