BlackRock Foundation Funds SaverLife App for Skilled Trades…

Event summary

SaverLife launched a customized financial wellness app for skilled trades workers, funded by The BlackRock Foundation.
The app is available to 75,000 apprentices nationwide through the electrical training ALLIANCE (etA).
BlackRock Future Builders program offers cash incentives to union apprentices for building healthy financial habits.
SaverLife's app currently supports 800,000+ Americans across all 50 states.
BlackRock's commitment follows an initial $100 million philanthropic pledge to grow America’s skilled trades workforce.

The big picture

BlackRock's investment in SaverLife underscores its broader strategy to support workforce development and financial wellness, particularly in skilled trades. This initiative aligns with the U.S. infrastructure growth and the need for financial resilience among workers. The partnership leverages SaverLife's fintech expertise and BlackRock's philanthropic commitment to address a critical gap in financial education for apprentices.

What we're watching

Adoption Rates: How quickly the 75,000 apprentices will engage with the SaverLife app and utilize its financial tools.
Financial Impact: Whether the app's personalized guidance will significantly improve savings and financial resilience among apprentices.
Scalability: The pace at which BlackRock and SaverLife can expand this initiative to other skilled trades and workforce development programs.