Refresh your finances with Spruce, a mobile banking app built by H&R Block
22 September 2022 - 3:15PM
Fall is a season of change, making it the perfect time to take a
look at personal finances and money habits with the help of Spruce,
a mobile banking app built by H&R Block (NYSE: HRB)1.
Today, the company announces two new and enhanced features, Round
Up and Credit Score Monitoring2, adding to a robust product feature
set designed to help improve customers' financial health.
In current times of historic inflation, many are looking to save
money wherever possible. Spruce makes it easy for customers to turn
spare change into savings with the addition of its new Round Up
feature. This optional feature allows customers to automatically
round up transactions to the next dollar amount and deposit the
spare change into their savings account. When customers opt-in to
Round Up through the Spruce app, they can see how spare change
quickly adds up and helps build savings.
Spruce partner Liz Rotz3 says she’s benefitted from Spruce
saving features and looks forward to having even more savings tools
at her disposal with the addition of Round Up.
“Inflation has made things more expensive this year, so we are
shopping around a little more than usual to find items that are on
sale,” said Rotz. “Every penny adds up, so I look forward to using
Spruce’s new Round Up feature to see how it can help increase my
savings even more,” she adds.
As borrowing costs continue to rise nationwide, having a solid
credit score is key. Spruce has enhanced the credit score
monitoring feature2, adding new capabilities that allow users to
take a deeper look into factors impacting their credit score. To
activate the feature, customers visit the credit tab in the app to
complete a simple activation process. After that, they’ll gain
access to view their FICO® score any time. Spruce customers will
also be able to tap into monthly updates and additional information
about the factors that could be impacting their score. By staying
informed, customers can always know where their credit stands,
which is good habit for financial health.
“With the goal of supporting each Spruce customer in their
unique financial needs, the credit score feature offers a
personalized view of a customer's credit score and individualized
breakdowns explaining how different factors impact their number,”
said Les Whiting, chief financial services officer, H&R Block.
“By offering credit score insights in the context of a customer’s
banking app, we’re providing an access hub for analyzing one’s
complete financial picture, equipping consumers to better
understand credit in the context of spending, saving and
borrowing.”
Spruce launched in early 2022 and proudly serves more than
160,000 customers who will have access to these new and enhanced
features that support financial health improvements.
“Since its launch Spruce has worked to break down barriers of
access and offer equitable financial services for everyone. Both
collectively and individually these new features align with our
goal of making the best in fintech available to all people,” said
Whiting.
- Spruce is a financial technology platform built by H&R
Block, which is not a bank. SpruceSM Spending and Savings Accounts
are established at, and the Spruce debit card is issued by,
Pathward™, N.A., Member FDIC, pursuant to license by Mastercard®.
Mastercard and the circles design are registered trademarks of
Mastercard International Incorporated.
- Credit score is FICO® Score 8 based on Experian data. Your
lender or insurer may use a different FICO Score than FICO Score 8,
or another type of credit score altogether. FICO® is a trademark of
Fair Isaac Corporation. This is a separate service from your Spruce
bank accounts, provided by Pathward, N.A. This product does not
report to credit reporting agencies.
- Rotz received compensation from H&R Block for Spruce
content in 2022.
About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires
confidence in its clients and communities everywhere through global
tax preparation services, financial products, and small business
solutions. The company blends digital innovation with human
expertise and care as it helps people get the best outcome at tax
time and also be better with money using its mobile banking app,
Spruce. Through Block Advisors and Wave, the company
helps small-business owners thrive with innovative products like
Wave Money, a mobile-first, small-business bank account and
bookkeeping solution, that manages bookkeeping automatically. For
more information, visit H&R Block News or follow
@HRBlockNews on Twitter.
For
Further Information: |
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Investor Relations: |
Michaella Gallina, (816)
854-3022, michaella.gallina@hrblock.com |
|
Jordyn Eskijian, (816)
854-5674, jordyn.eskijian@hrblock.com |
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Media Relations: |
Angela Davied, (816) 854-5798,
angela.davied@hrblock.com |
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