Equality - HoneyBee

Our impact

Building a culture of inclusion and belonging

%

of HoneyBee users are Black, Hispanic, or Asian, and the majority of them are female.

%

of HoneyBee users have at least one child.

%

of users said it was difficult to cope with their financial issues before HoneyBee.

%

said HoneyBee made it easier for them to cover regular expenses.

Results from a survey of HoneyBee applicants courtesy of Washington University in St. Louis and the Financial Health Network.

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Structural Financial Inequity in America

The average white American family has about 7 times the wealth of the average hispanic and black family, and twice the amount in retirement savings.

The Gap in Savings Cushions

While the average white family has 31 days of liquid savings on hand, hispanic and black families have only 5 to 12 days – leaving many without savings cushions to manage income volatility.

Lack of Access to Affordable Credit

Black consumers are 73% more likely than white consumers to lack a credit score and 30% of black households have no access to affordable credit.

The Financial Literacy Gap

The P-Fin Index measures eight key areas of personal finance knowledge. In 2020, minority women answered only 38% of the questions correctly.

Watch these women share their stories: (1:40 min)

Everyone benefits when employees are less stressed about money

%

of users feel less stress about money

%

increase in 401(k) participation

%

reduction in 401(k) borrowing

%

average program participation rate

Learn how HoneyBee empowers HR leaders to attract new talent and improve retention with a best-in-class supplemental financial wellness program that meets the financial needs of the modern-day workforce.

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