TriUnity Foundation and Wade& Partner to Reduce the Financial Strain of Life-Threatening Illness
Shared mission connects more affordable credit union lending with direct financial relief
St. Cloud, MN — TriUnity Foundation and Wade& today announced a partnership rooted in a shared commitment to reduce the financial strain that accompanies a terminal or life-threatening illness.
The partnership connects Wade&’s work helping credit unions replace high-interest debt with more affordable borrowing options and TriUnity’s mission of providing financial relief so people can focus on their health and the people they love.
Medical expenses do not always show up as medical debt. They can appear as credit card balances, financing arrangements and monthly payments that continue long after treatment. Research cited by Wade& indicates that approximately one in six Americans pays a medical or dental bill with a credit card and carries that balance.
For families navigating a life-threatening diagnosis, the immediate priority is getting care. Shopping for financing may be the last thing they have time or energy to do. That urgency can leave them exposed to high interest rates and deferred-interest arrangements that impose interest retroactively if the balance is not paid within the promotional period.
“A terminal or life-threatening diagnosis brings enough uncertainty without the added pressure of how to pay for it,” said LeAnn Case, board chair of TriUnity Foundation. “TriUnity exists to reduce that financial strain. This partnership advances our mission by helping credit unions ease the burden of high-interest debt while generating additional funding for direct financial relief.”
Through the partnership, participating TriUnity credit unions can work with Wade& to identify members carrying high-interest debt at other financial institutions, including debt associated with medical expenses. Wade& helps credit unions develop personalized, pre-approved lending offers aligned with each institution’s lending criteria.
Wade& reports that its programs have helped members refinance debt carrying interest rates of 21% to 32% into credit union loans averaging approximately 11%, with average annual interest savings of more than $1,500 per family. Individual rates and savings depend on the member’s circumstances and the participating credit union’s terms.
The approach reflects the credit union movement’s longstanding purpose of providing fair, affordable access to credit and helping people move away from costly, potentially predatory financing. For members managing the expense of medical care, that purpose can translate into lower interest costs and more room in the household budget.
For each qualifying program, Wade& will contribute $20,000 to TriUnity Foundation on behalf of the participating credit union, helping extend financial relief to people facing a terminal or life-threatening illness.
“The alignment with TriUnity was clear from the beginning,” said Nick Wade, founder of Wade&. “We both want to reduce the financial pressure people face when their health and their family need their attention. Helping a member replace high-interest debt can improve their monthly finances. Supporting TriUnity allows that same work to reach further through direct financial relief.”
TriUnity provides grants of $2,500 and $10,000 to eligible recipients through its credit union partners. Recipients can use the funds to address the financial pressures surrounding their illness, including everyday expenses that do not pause when treatment begins.
Together, the organizations aim to help credit unions respond to both the immediate financial strain of a life-threatening diagnosis and the debt that can follow.
Credit unions interested in participating can contact Bryan Peters, Wade& Chief Sales Officer, at bryanpeters@wadegroup.ca
About TriUnity Foundation
TriUnity Foundation is a national, credit union-led 501(c)(3) nonprofit dedicated to reducing the financial strain that comes with a terminal or life-threatening illness. Through credit union partnerships and charitable support, TriUnity provides grants to eligible individuals in a credit union’s field of membership so they can focus on their health and the people they love. Learn more at www.TriUnityFoundation.org.
About Wade&
Wade& helps credit unions use data to identify member borrowing needs and deliver personalized, pre-approved lending offers. Its approach combines data analysis, proprietary credit models and implementation support, then transfers knowledge and capabilities to credit union teams so they can continue serving members independently.
