Refresh your finances with Spruce, a mobile banking app


KANSAS CITY, Mon., Sept. 22, 2022 (GLOBE NEWSWIRE) — 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 to be cast by H&R Block (NYSE:HRB)1. Today the company announces two new and improved features, Round Up and Credit Score Monitoring2which is added to a robust product feature set designed to improve customers’ financial health.

In times of historical inflation, many try to save money wherever possible. Spruce makes it easy for customers to convert loose change into savings with the new round up feature. With this optional feature, customers can automatically round transactions up to the nearest dollar amount and deposit the remaining change into their savings account. When customers choose Round Up through the Spruce app, they can see the change add up quickly and help drive savings.

Spruce partner Liz Rotz3 says she’s benefited from Spruce’s savings features and looks forward to having even more savings tools available with Round Up.

“Inflation has made things more expensive this year, so we’re looking around a little more than usual to find items that are on sale,” Rotz said. “Every penny counts, so I’m excited to use Spruce’s new round-up feature to see how it can help increase my savings even more,” she adds.

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As the cost of borrowing continues to rise across the country, a solid credit history is vital. Spruce has improved its credit monitoring feature2, which adds new features that allow users to gain deeper insight into factors affecting their credit score. To activate the feature, customers visit the Balances tab in the app to complete a simple activation process. After that, they have access to their FICO® score at any time. Spruce customers can also access monthly updates and additional information about the factors that could be affecting their score. By staying informed, customers can always know where their credit score stands, which is a good habit for financial health.

“Aiming to help each Spruce customer with their unique financial needs, the credit score feature provides a personalized view of a customer’s creditworthiness and customized breakdowns that explain how various factors affect their number,” said Les Whiting, Chief Financial Services Officer, H&R Block. “By offering insights into creditworthiness in the context of a customer’s banking app, we provide an access hub for analyzing the complete financial picture, enabling consumers to better understand credit in the context of spending, saving and borrowing.”

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Launched in early 2022, Spruce proudly serves more than 160,000 customers who will have access to these new and enhanced features that help improve financial health.

“Since its inception, Spruce has worked to break down barriers to entry and provide equitable financial services for all. Both collectively and individually, these new capabilities align with our goal of making the best of fintech available to everyone,” said Whiting.

  1. Spruce is a non-bank financial technology platform developed by H&R Block. SpruceSM Spending and savings accounts are established with and the Spruce debit card is issued by Pathward™, NA, a member of the FDIC, under license from Mastercard®. Mastercard and the circle design are registered trademarks of Mastercard International Incorporated.
  2. Credit Score is FICO® Score 8 based on Experian data. Your lender or insurer may use a FICO score other than a FICO 8 score, or an entirely different type of credit score. FICO® is a trademark of Fair Isaac Corporation. This is a separate service from your Spruce bank accounts provided by Pathward, NA. This product is not reported to credit bureaus.
  3. Rotz received compensation from H&R Block for Spruce content in 2022.
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About H&R block

H&R Block, Inc. (NYSE: HRB) provides guidance and builds trust with its clients and communities around the world through global tax preparation services, financial products and small business solutions. The company combines digital innovation with human expertise and care as it helps people achieve the best tax-time outcome and manage money better with 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 accounting solution that automatically manages bookkeeping. 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 work: Angela Davied, (816) 854-5798, [email protected]



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