• Sat. Oct 1st, 2022

Refresh your finances with Spruce, a mobile banking app

ByCindy J. Daddario

Sep 22, 2022

KANSAS CITY, Mo., Sept. 22, 2022 (GLOBE NEWSWIRE) — Fall is a season of change, making it a great time to take a look at personal finances and financial habits using Spruce, a mobile banking app from H&R Block (NYSE: HRB)1. Today the company is announcing two new and improved features, Round Up and Credit Score Monitoring2adding to a robust product feature set designed to help improve customers’ financial health.

In these 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 for Round Up through the Spruce app, they can see how quickly the spare change adds up and saves money.

Spruce Partner Liz Rotz3 says she has benefited from Spruce’s savings features and is excited to have even more savings tools at her disposal with the addition of Round Up.

“Inflation has made things more expensive this year, so we’re shopping a little more than usual for sale items,” Rotz said. “Every penny adds up, so I’m looking forward to using Spruce’s new Rounding feature to see how it can help increase my savings even more,” she adds.

As borrowing costs continue to rise nationwide, having a strong credit score is essential. Spruce improved credit score monitoring feature2, adding new features that allow users to take a closer look at the factors affecting their credit score. To activate the feature, customers visit the credit tab of the app to complete a simple activation process. After that, they will have access to view their FICO® score at any time. Spruce customers will also be able to access monthly updates and additional information on factors that may impact their score. By staying informed, customers can always know where their credit is, which is a good habit for financial health.

“In an effort to support each Spruce customer with their unique financial needs, the Credit Score feature provides a personalized view of a customer’s credit score and individualized breakdowns explaining how different factors impact their count,” Les said. Whiting, director of financial services, H&R. To block. “By offering credit score information in the context of a customer’s banking app, we provide an access hub to analyze their complete financial picture, enabling consumers to better understand credit in the context of spending. , saving and borrowing.

Spruce was launched in early 2022 and proudly serves over 160,000 customers who will have access to these new and improved features that support improved financial health.

“Since its launch, Spruce has worked to remove barriers to access and provide fair financial services for all. Collectively and individually, these new features align with our goal of making the best of fintech available to everyone,” said Whiting.

  1. Spruce is a financial technology platform built by H&R Block, which is not a bank. SpruceSM Spending and savings accounts are established and the Spruce debit card is issued by Pathward™, NA, Member FDIC, pursuant to license from Mastercard®. Mastercard and the circle design are registered trademarks of Mastercard International Incorporated.
  2. Credit score is FICO® Score 8 based on data from Experian. Your lender or insurer may use a FICO score other than FICO score 8, or another type of credit score. FICO® is a registered trademark of Fair Isaac Corporation. This is a separate service from your Spruce bank accounts, provided by Pathward, NA This product is not covered by credit reporting agencies.
  3. Rotz received compensation from H&R Block for Spruce content in 2022.

About H&R Block

H&R Block, Inc. (NYSE: HRB) helps and inspires confidence in its customers and communities around the world through global tax preparation services, financial products and solutions for small businesses. businesses. The company combines digital innovation with human expertise and care as it helps people get the best outcome at tax time and better manage their money through 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 banking account and small business accounting solution that automatically handles accounting. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.

For more information:
Investor Relations: Michaella Gallina, (816) 854-3022, [email protected]
Jordyn Eskijian, (816) 854-5674, [email protected]
Media Relations: Angela David, (816) 854-5798, [email protected]