Tribute Technology Partners with Family Shield Credit to Expand Access to Funeral Financing

Partnership Provides Client Families Access to Budget-Friendly Payment Plans while Strengthening Funeral Homes and Reducing Accounts Receivable

WAUNAKEE, Wis., Nov. 5, 2025 — Tribute Technology has announced a new partnership with Family Shield Credit, the first fintech platform designed by funeral professionals to offer flexible, budget-friendly payment options for funeral homes and their client families. This collaboration integrates Family Shield’s proven financing platform into Tribute Technology’s ecosystem, making it easier than ever for funeral homes to provide families with the services they need without the burden of immediate financial constraints.

“Family Shield offers a crucial solution that allows families to make decisions based on what they truly want for their loved ones, not just what they can afford at the moment,” said Craig Greenseid, CEO of Tribute Technology. “By working with Family Shield, we’re adding another layer to the Tribute Technology platform, giving funeral homes the ability to offer more comprehensive services while improving their financial health at the same time.”

Key Benefits for Funeral Homes

The partnership with Family Shield brings several key advantages to funeral homes. Funeral homes receive direct payment from Family Shield, typically within 48 hours of the client’s service, eliminating the delays and uncertainties associated with waiting for estate settlements, life insurance disbursements, or property sales. This helps improve cash flow and reduce accounts receivable.

Homes using Family Shield see an average 30% increase in total spend per family. Flexible payment plans empower families to select the services and memorials they truly want, rather than settling due to immediate financial constraints.

Family Shield’s platform provides fast underwriting and approval decisions through a proprietary fintech portal, streamlining the application process. There is no paperwork or manual review required, making it easy for funeral homes to offer this option to families. 

Tribute Technology funeral homes can quickly onboard through an automated online portal. Ongoing webinars and training are available to help funeral directors confidently present these payment options to families. Combined with Tribute Technology’s existing Tribute Pay payment platform, this exciting partnership with Family Shield creates a comprehensive financial solution for funeral directors.

“Our goal is to help funeral homes serve families with compassion and respect, and this partnership directly aligns with that mission,” said Dan Solecki Sr., Co-Founder and President at Family Shield Credit. “With Family Shield, funeral homes can streamline their payment processes, improve cash flow, and offer families the peace of mind they deserve.”

About Family Shield
Family Shield Credit provides flexible payment solutions for funeral homes and their clients, offering families peace of mind during difficult times. Families can borrow funds to cover funeral expenses, relieving the stress of immediate payments and providing much-needed time. Learn more at www.familyshieldcredit.com.

About Tribute Technology
Tribute Technology is a leading provider of software and services for funeral homes, cemeteries, and crematories, helping professionals serve families through best-in-class websites, management tools, and digital memorialization solutions. To learn more, visit www.tributetech.com.

Photo Caption
Tribute Technology has partnered with Family Shield Credit to bring flexible, budget-friendly payment options to funeral homes and the families they serve — helping firms improve cash flow and receive direct payment within 48 hours.

Last week, as you can read in this article, credit rating company Moody’s downgraded the status of the United States Government debt from Aaa to Aa1 – which is a downgrade of one notch.  In making the recent downgrade, the article states:

“The US has lost its last perfect credit rating, as influential ratings firm Moody’s expressed concern over the government’s ability to pay back its debt.

In lowering the US rating from ‘Aaa’ to ‘Aa1’, Moody’s noted that successive US administrations had failed to reverse ballooning deficits and interest costs.

A triple-A rating signifies a country’s highest possible credit reliability, and indicates it is considered to be in very good financial health with a strong capacity to repay its debts. . .  . . . .

The downgrade “reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns. . . . “

 

From my point of view it is a sobering thought on the ratings of U.S. Government debt.  And, I also believe that there may be some consequences to business because of this decrease in ratings.

In my opinion there is somewhat of a “comparable” nature to debt and interest rates companies may receive from their lenders.  And, I believe those rates start at two points — one point is the rating of the United States Government and the second point is the Federal Reserve’s “Federal Funds Rate”.  That is the base interest rate that we hear the “Fed” talk about raising and lowering to maintain the economy without inflation.  Currently, the Fed has a target rate of 4.25-4.50%.

What might this mean for your funeral home?  —  It’s my opinion that when you go in to see your lender they think first about your ability to pay back the loan.  It’s a risk/reward system so they will give you a lower rate if they believe you have a very good chance at paying the loan back. . . conversely, if they believe your cash-flow might be restricted for some reason or another they may still offer you a loan, but at a higher interest rate.

And, they cannot help but think about defaults.  The U.S. Government rating just being downgraded will weigh on their decision simply because it is a psychological negative on credit in general.  I also believe this current rating drop will have a psychological effect on the position of the Federal Reserve Board and their thought process about lowering the targeted Federal Funds Rate — which may keep interest rates “higher for longer”.

Quite frankly, again in my opinion, a United States Government credit rating drop is simply a negative in the universal sphere of credit, one’s thought on creditworthiness, and the ability to move to lower interest rates.  There is nothing I see about this ratings drop that will help any of us, individually or as a business, gain credit or gain a more favorable rate.

Tom Anderson
Funeral Director Daily

My time on a credit board —  When I served on the University of Minnesota’s Board of Regents I was tasked with being the Chairman of the Debt Management Committee for four years.  I learned in some depth about the ratings systems and learned that it was a very big positive to have a great credit rating from the likes of Moody’s.  Our high ratings led to extremely low interest rates as we used credit for everything from building our own power plant to a new athletic complex – selling bonds at the extremely low rate of approximately 2-3%.  The University of Minnesota maintains an Aa1 rating from Moody’s — the same as the new rating on the U.S. Government.  Here’s a short note on that from Google:

“The University of Minnesota currently holds an Aa1 credit rating from Moody’s, with a stable outlook. This rating reflects the University’s strong financial position, brand reputation, and favorable student demand and research trends. The University’s Budget and Finance office indicates that Moody’s last action was in April 2022, and they have continued to affirm the Aa1 rating.” 

What about Death Care credit ratings? —  It is extremely difficult to acquire and maintain the highest ratings in a credit rating . . .such as Aaa from Moody’s or AAA from Standard & Poor’s.  However, in a quick search on ETrade I found five entities with either an Aaa rating from Moody’s or a AAA rating from Standard & Poors.  Realize now, that with the current downgrade of the United States Government, the following five entities have a better credit rating than the U.S. Government rating that is backed by the “full faith and credit” of the taxpayers of the United States.  The five I found were:  Johnson & Johnson, Microsoft, Harvard University, Stanford University, and Yale University.

Comparatively, I found credit ratings for Service Corporation International  (SCI), the company most would say is the strongest in the Death Care world to be BA3 from Moody’s and BB from Standard & Poor’s.  I think that shows the difficulty in becoming “A” rated by the ratings companies.  Most people who understand and follow Death Care do not see SCI being a company that will default on debt anytime soon. . . . Yet, they are not “A” or higher rated.

As an investor I buy bonds from time to time.  Generally, I do stick to “A” rated or better bonds. . . . .However, as a Death Care professional I also look at the realities of SCI and have two bonds that I have purchased from that company.  One has a yield of 5.125% and matures in 2029 and the other has a yield of 5.75% and matures in 2032.  At the time I bought them bank certificates of deposit were paying about 4% so it was a case where I believed the increased yield was worth the risk involved.

Why Moody’s cut America’s credit ratings.  Direct from Moody’s

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This article started out as a “Pricing” article and was going to be about how do funeral businesses raise their prices for the new year in a world where inflation on consumer’s everyday purchases has continued to stay elevated?

I was wondering because economic indicators from last Friday showed a gain in American jobs but also a rise in the unemployment rate to 4.2%. . . and, anecdotally, major employers headquartered in my area, Cargill and Toro, announced thousands of job layoffs around the world.  I looked at those data points and wondered if I could see a trend developing.

So,  I went searching for information that would confirm to me that the consumer was in a tighter position than, let’s say, a year ago.  What I found was interesting, and probably acknowledges that the consumer, at least on the average, may be in a better position.

Here’s what the Federal Reserve Bank of  New York says as to the American consumer’s position at the end of the 3rd Quarter of 2024 per this article:

“Total household debt increased by $147 billion to reach $17.94 trillion, according to the latest Quarterly Report on Household Debt and Credit. Aggregate delinquency rates edged up from the previous quarter, with 3.5 percent of outstanding debt in some stage of delinquency. Mortgage balances rose by $75 billion from the previous quarter to reach $12.59 trillion at the end of September. . . . . Credit card balances increased by $24 billion to hit $1.17 trillion, and auto loan balances saw an $18 billion increase and stood at $1.64 trillion. HELOC (Home Equity Loans) balances increased by $7 billion to reach $387 billion, representing the tenth consecutive quarterly increase since Q1 2022.”

So, that paints a not-so-pretty picture of family or consumer debt in America.  However, in a related article from the Federal Reserve Bank of New York that you can read here, they point out a positive attribute of where the American consumer is also:

“The aggregate debt balance has continued to climb since the pandemic, reaching $17.94 trillion in the third quarter of 2024. However, during this same time, Americans’ disposable personal income has grown as well, reaching a value of $21.80 trillion. Now, the ratio of total debt balance to income is 82 percent, just below the pre-pandemic level of 86 percent in 2019. Relative to income, balances are actually lower than they were before the pandemic.” (Emphasis by Funeral Director Daily)

Here’s a chart of Consumer Debt to Income from 2000 through today:

As you can see, debt has risen dramatically, but not as a percentage of personal income.  I’m pretty certain that your consumer clientele will range away from these average statistics to a range of consumers who, on one end of the spectrum, have no problem paying for funerals all the way to a group of less fortunate clientele that have no ready cash or credit available to them at the time of a death in the family on the other end of the spectrum.

Tom Anderson
Funeral Director Daily

Doing this exercise and finding these credit statistics also pointed out to me that like politics, the funeral business is truly a “local business”.  Your clientele, and probably their ability to pay, probably has some correlation to where your funeral home is located.

For instance, an inner city funeral home may find lots of issues with credit and finance in contrast to a wealthy suburb funeral home where you would expect little problem with that issue.  And, if you are in a rural or regional center city like I am, you always have to be prepared for client families on both extreme ends of the spectrum. . . . . And my guess, is that if you have lived in your community for any length of time, then you know who your clients are and the situations that you will probably face with service payments.

To that point on contrasting situations, here is a quote from the 2nd linked article above on some of those differences and trends:

“(the) divergence of debt-to-income measures based on the type of household debt and the heterogeneous characteristics of borrowers might shed light on the economic situations faced by different groups of people in the U.S., particularly when paired with differential movements in delinquency rates. The recent downward movement in the ratio of debt to income has been followed by an apparent moderating of delinquency rates for auto loans and credit cards during the third quarter, and if that trend continues, it would suggest that rising debt burdens remain manageable.”

I guess we will talk about pricing of services another day. . . . .I somewhat got carried away with the statistics I found while investigating the position of the American consumer in today’s world. . . . But, as I’ve always found out, you learn something from the investigation.

Related Article — US economy adds 227,000 jobs in November, unemployment rate rises to 4.2% as labor market rebounds.  Yahoo Finance

Related Article — Inflation remains sticky, with (November 2024) CPI rising 2.7% from a year ago.  Yahoo Finance  (Editor’s Note:  Here’s a quote from this article which was published yesterday:  “Since May 2023, wages have been rising faster than inflation, which is the main reason why persistently higher inflation has not slowed overall consumer spending.”

Related Note —  According to this graph below, wage growth remains higher than inflation.  That is something to think about when looking at your next round of employee compensation decisions.  It’s also interesting to note that it appears wage growth may  continue to remain higher than inflation growth for the immediate future.   If that is true (continued wage growth) in the funeral home business world then funeral homes may find it difficult to maintain current staffing in a Death Care world where it is a challenge to maintain revenue per case levels as the growth of cremation and direct cremation continues.

Year-over Year growth by month (2020 to October 2024). Wage Growth = Blue Line. Inflation Growh = Black Line.

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Business Loans vs. Credit Cards: Pros, Cons, and When to Use Each

Understanding the pros and cons of credit cards and business loans is essential when managing business finances. Each option offers unique benefits and risks, so knowing when to use one over the other can make a big difference in sustaining financial health.

The Benefits of Using a Business Credit Card

Business credit cards offer several advantages for small expenses. One of the top benefits is the ability to earn perks, with many cards offering 1-3% cash back on purchases. If a business consistently funnels transactions like utilities, gas, or other recurring expenses through a credit card, these rewards can add up, potentially offsetting costs and contributing positively to the bottom line.

Credit cards simplify expense tracking and tax preparation, as all purchases are documented on a single account. Many credit card providers offer tools that organize spending categories, which can help monitor business trends and make data-informed decisions. For companies with multiple employees authorized to spend, credit cards create accountability by providing a transparent view of all transactions, aiding in tracking and budgeting.

Potential Drawbacks of Business Credit Cards

Business credit cards come with significant risks despite their convenience, mainly due to high interest rates. Failing to pay the balance in full each month can lead to interest charges as high as 20% or more, which can quickly eat into a business’ cash flow.

Additionally, the easy accessibility of credit cards can lead to overspending if not managed carefully. Business owners should be disciplined, ensuring necessary purchases and fit within the budget to avoid a debt snowball effect.

Advantages of Business Loans Over Credit Cards

Small business loans often provide better terms than credit cards for larger purchases or cash flow management. They also provide flexibility with lower interest rates, allowing businesses to borrow at a more affordable rate. Small business loans are ideal for larger expenses, like significant equipment purchases, because they provide a fixed amount with structured repayment terms. Unlike credit cards, these loans often come without prepayment penalties, allowing businesses to pay off the loan early without additional fees. This flexibility can be helpful when cash flow fluctuates, or additional capital becomes available.

Choosing the Best Option for Your Business

Business credit cards and loans have their place. Business credit cards can be incredibly convenient for day-to-day expenses but should be used cautiously to avoid high-interest debt. On the other hand, business loans are better suited for larger purchases or cash flow needs, providing a healthier, more affordable alternative.

Understanding the pros and cons of each option allows business owners to take a strategic approach to finance, ensuring that they make decisions that support growth and financial stability. When chosen carefully, both options can contribute positively to a business’ financial management.

Download Live Oak Bank’s free Guide to Ownership Transition or connect with Andrew Kennedy, VP of Funeral Home and Cemetery lending, at https://info.liveoakbank.com/guide-to-ownership-transition.

The American economy keeps spending, yet we hear that families are getting squeezed by the combination of high prices and high interest rates.  We also hear that high interest rates don’t seem to be stopping the consumer which in turn would put a turn-down on the economy making a reason for lowering interest rates.

In some ways that juxtaposition just doesn’t make sense.  How can America keep spending in record numbers and dollars, yet we hear the stories that families are hurting.  If the families are hurting financially, wouldn’t the spending stop?

Oddly enough, that’s a discussion my family had at the Easter table on Sunday.

Then on Monday, I found some proof from what I have long expected. . . . .There is much more than one America and there is a pretty easy explanation for all of this when you look at what is happening in credit scores.  I came across this article titled, “Delinquencies rise in February as diverging consumer credit trends emerge”.

The article gives some reason and rationale to the fact that America is diverging in a lot of areas. . . one of which is the ability to secure credit.  The article deals with what is called the “VantageScore” of credit.  It lists three tiers where most people fit into the credit rating categories. . . .

• A credit rating of between 781-850 is called “SuperPrime” and is the top category
• A credit rating of between 600-780 is called “Prime” and is the next best category
• A credit rating of between 300-600 is called “SubPrime” and is the lowest category.

According to the article the “Prime”, or middle, category is contracting in number of consumers and as it does those people that move out of it move either up into the “SuperPrime” category or down into the “SubPrime” category.  In essence America’s borrowers are either “Better Off” or “Worse Off” than before but less and less are in the middle-class category which has been where the essence of America has been for decades.

According to the article, here’s why that movement is important, “The divergent trends of healthy Superprime consumers, compared with struggling Subprime consumers, “could complicate the Federal Reserve’s efforts to effectively engineer a smooth landing because VantageScore Superprime consumers are still spending and borrowing while VantageScore Subprime consumers are finding it increasingly difficult to stay current on credit payments”.

So, that is interesting, but does it, or will it effect your funeral business?  I think it does simply by creating more of an inexact knowledge of who your customer is.  Is there no problem extending some type of credit?. . . . Or does this client family have no apparent means to pay the funeral services bill?  That’s a difficult problem to have and think about when sitting around the arrangement table.

Where does this situation go when you have settled on a services plan that costs $10,000 and the client family can only come up with $2,000 on a credit card.  Think of that with the knowledge of this recent CNBC article which states that 44% of American’s can not come up with $1,000 for an unexpected expense.

On Easter Sunday I also took time to catch up with some of my reading from NFDA’s The Director magazine which is delivered to my Minnesota home while I”m in Florida for the winter.  In the February edition I came across an article by Johnson Consulting Group’s Kristen Szymborski about managing cash-flow.  In it she makes this sensible comment, “Collecting fees at the time of arrangement and time of services rendered is a crucial practice that ensures a steady influx of cash“.

Great advice and it probably should be followed. . . . . but what do you do in my example when that family has got to the point of choosing services and then realized the total amount is not within the reach of their current financial abilities?

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  In this situation I’m probably the worst guy to ask.  By any banker or credit manager’s standard I was way too lenient on lending credit to all kinds of clientele.  Call me naive, but I simply had faith in the goodness of people. . . .Yep, I got taken a few times, but at the end of the day, I think we came out okay.

I don’t think there was anybody who simply did not want to pay for their mom or dad’s funeral.  Whenever I didn’t get paid there was a pretty good probability that they had no resources to pay me.

I also always kept President Lincoln’s quote close knowing that the only way we would be able to extend credit to those with an apparent lack of resources was that the funeral home had to be financially strong first of all.  Lincoln once said, “You cannot strengthen the weak by weakening the strong”.  

We didn’t accept credit cards.  You either had a preneed account or paid us by check within a week.  I’m guessing that over all we probably lost about 2% of our sales to credit loss.  But, by not taking credit cards all of the other accounts had no fee taken from us for credit card processing (this was before the advent of SeeNoFees credit card processing). . . and that 2% loss was worked back into our basic service overhead pricing.  So, in essence, maybe it is not fair, but those that paid on time and in full helped me extend credit to those with difficult situations.

Finally, I used to rationalize that “Nobody ever asks for a death in a family”.  Maybe it came at the worst possible time and there were other pressing needs that the family had to tend to.  I used to think “If I don’t give them a break, who will”?

Funny thing that happened with those families that we gave a break to via the extension of credit when they should not have qualified.  They weren’t down and out forever.  They became some of our most loyal clientele and best advocates in the community.

Credit and how it is extended is an inexact science.  Know your limits, know your situation, be judicious, and most of all, know your customers if you can.

Finally, build your funeral home’s financial base with wise financial moves so that you can have the option of extending credit if you need to. . .If you are not strong in the first place, you have no ability to help others when they may need it.

Related Article — What is the average credit score in the U.S.?  Experian

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