ICAD Clients Providing Employees Tips on Finances with New Program

ACT and Integrated DNA Technologies among companies helping workers' financial health

by Josh O'Leary Iowa City Press-Citizen

Employers have long looked out for their workers' physical well-being through health insurance plans and, in some cases, perks such as gym memberships and fitness programs.

A number of local companies, however, are now taking an interest in their employees' financial health.

ACT and the University of Iowa are among the employers that have brought in experts from University of Iowa Community Credit Union for financial seminars through its Learn at Work program.

Integrated DNA Technologies in Coralville has offered the UICCU's money-management sessions as part of the company's regular Lunch and Learn series.

"Most of them have been related to health and wellness, but we thought it would be good to tie-in financial wellness, as well," said Jolene Smidt, assistant vice president of global human resources at Integrated DNA.

Smidt said that during these trying economic times when many businesses have had to cut contributions to 401Ks, freeze salaries and reduce benefits, it's important that employers give their workers as much information as possible in dealing with personal finances.

Eadie Fawcett Weaver, UICCU's director of business development, said the Learn at Work program, which is offered free to area businesses, is part of the credit union's commitment to community education. Service groups and UI fraternities and sororities also have hosted seminars in the year the program has been offered.

Learn at Work has a curriculum of about 20 different topics ranging from eliminating debt to long-term investment strategies, and companies are able to tailor-make their own presentations based on its employees' interests. Among the most popular topics are understanding credit reports and the 10 steps to financial success, Weaver said.

"Right now everyone, whether they have a little or a lot of money, wants to make that money work for them the best they can," Weaver said. "This is the kind of information given to employees that will give them peace of mind."

Pagelyn Howren, who manages UICCU's branch at the Iowa Memorial Union, gives monthly on-campus presentations to university employees while Mike Young, the head of UICCU's investment team, gives Learn at Work seminars with the focus of helping workers take control of their financial lives and establish long-term security.

Weaver said that although many strapped companies are unable to offer extra perks these days, seminars like these could go a long way.

"It shows employees that their employers care about them, that, 'We want you to have this information and be well-rounded and have your money work for you,'" she said.