STI 2018 Annual Report

Meeting a Unique Client Need Momentum onUp for Clients In talking with our corporate clients, we knew financial wellness also was top of mind for them as they compete to attract and retain top talent. Increasingly, they see the value of combining traditional employer benefits with a robust financial wellness benefit. The results of Momentum onUp for Teammates were so compelling—we knew we had a real opportunity to help our clients in a unique way. In 2017, we launched Momentum onUp for Clients. This leading workplace financial wellness solution, delivered at cost, helps employees establish financial goals according to their personal values and outlines important practical steps that can help anyone achieve greater financial confidence. Currently, more than 150 companies and 54,000 of their employees are participating nationwide. Fifty-six percent of participating companies provide some type of an incentive, almost a third of which offer a cash incentive, averaging $250. “Momentum onUp is perhaps the most important training we’ve rolled out. Having a healthy financial life lowers stress and worry and leads to overall improvement in body, mind, and spirit. The program showed our associates the way to thrive.” Roy Goodman, CFO at Luck Companies In 2018, Momentum onUp launched new features to expand engagement among employees’ families and help them gain greater insight into their finances. The My Family curriculum is organized around three demographics : children, young adults, and older loved ones. Using videos, interactive tools, worksheets, and checklists, the program highlights the most important financial principles for each group and offers suggestions to help employees talk with family members about finances. We also partnered with SavvyMoney to offer free, real-time access to credit score, credit report, and credit monitoring to participants—all of which are key elements of the program. Starting at Home We know financial confidence must start with our own. In 2015, we launched Momentum onUp for Teammates, a curriculum which aims to equip our teammates with the tools they need for financial success. We saw great results from the start—those who graduated made progress toward their goals and reported feeling less financial stress. Teammates also can take the training with their families, and those who complete the program earn financial wellness dollars as an incentive. Purpose A Legacy of Confidence Momentum onUp for Teammates Teammate relations manager Robbin Frazier not only lives the SunTrust purpose on the job, but she also brought what she learned from Momentum onUp for Teammates to a recent family reunion. With a focus on educating the family’s children about generational wealth and the importance of saving early, she helped her family develop and present a financial workshop to the children, who ranged in age from 7 to 17. The adults talked about ways to make extra money and the importance of spending, saving, and sharing some of what they make. Expecting the children would quickly lose interest, they planned for a quick 15-minute talk. But the children were so intrigued and engaged that the workshop went on for an hour and a half. Each of the young people went home with a piggybank with $10 in $2 bills to help them take their first step on their financial journey. Robbin’s family took it further by creating a Henderson Legacy Award (HLA) and adding their own unique family purpose to the award, which states, “The HLA is to invest in the financial future of our youth by presenting a monetary award to the recipient to invest in the stock market.” The award was initially funded with $100 from the family reunion budget. Further contributions from family members over the reunion weekend added another $220. Then the children’s names were put into a hat, and Robbin’s 82-year-old Aunt Alice drew the winning name. The winner and first Award recipient was 7-year-old Minkah, who immediately asked, “Does this mean I have a checking account now?” Minkah chose to purchase two shares of Nike. Robbin’s family story is a great example of how we can extend and continue our purpose at home. As a result of participating in the program: 98% of participants have an emergency savings account 87% of participants use a budget 95% of participants know their credit score 94% of participants know their net worth Participants increased their 401(k) or investment contributions by 35% ~18,000 active teammates participate in Momentum onUp 70% of graduates say they're better prepared to handle an unexpected financial event >$13MM financial wellness dollars paid to SunTrust teammates Page 20