Tools to improve
The Financial Empowerment Program helps low- to moderate-income households, which have been impacted by COVID-19.
Working-age adults, who receive financial Crisis Assistance from The Cooperative Ministry, have histories of stable employment and housing and show interest in self-improvement will be invited to complete the Consumer Financial Protection Bureau's (CFPB) Financial Well-Being Questionnaire to establish participation in the Financial Empowerment Program.
The program will match participants with a Financial Health Coach certified by the National Association of Certified Credit Counselors.
Coaches will offer education and training in weekly sessions for up to six months to help participants:
Determine barriers to financial security
Identify financial goals
Create and executive a budget
Understand and improve their credit scores
Begin an emergency savings plan
Participants may receive continued Crisis Assistance in the form of credits, which can be redeemed upon successful completion of the program. Credits can then be applied to utility bills, rent or mortgage payments, or placed in a "rainy day" savings fund.
MISSION FOR THE MIDLANDS
To increase the economic self-sufficiency of people experiencing poverty in the Midlands through crisis assistance and sustainability programs.