FARMINGTON HILLS, Mich.–(BUSINESS WIRE)–Jan 14, 2021–
GreenPath Financial Wellness, a national nonprofit that provides financial counseling and education, was awarded a $1 million grant from the United Services Automobile Association (USAA) to positively address the employment, educational and economic disparities that exist within communities of color and low-income military communities.
With this funding, GreenPath is launching a 12-month initiative to help Black and Hispanic clients, who are financially delinquent at the start of counseling, show improvement over time in their payment behavior for student loans and unsecured debt accounts, resulting in improved overall financial health and a reduction in financial stress. This program will reach 10,000 households in Bexar County, Texas (San Antonio metro area) with financial wellness education and provide 3,000 households with one-on-one financial counseling and coaching.
“Pre-COVID, one in ten Americans didn’t have enough money to cover one week of typical expenses without pay. The financial literacy and well-being of communities of color often lag behind that of the population as a whole,” said Kristen Holt, president and CEO at GreenPath. “We’re thankful for the support from USAA so that we can help Bexar County’s residents of color increase their financial resilience with our proven financial counseling, education and debt management tools.”
GreenPath has a long-standing track record of providing trusted financial counseling. In 2020, the national nonprofit provided more than 138,000 financial counseling services to clients, with more than $250 million in payments resolved through GreenPath’s Debt Management Program. In addition, in 2020 more than 80,000 people engaged with GreenPath’s financial literacy educational experiences. Using tools such as GreenPath’s Debt Management Program, clients reduce their debt, improve their health, reduce their stress and advance toward the financial future they want for themselves.
As part of its three-year, $50 million commitment to advance racial equality, USAA strives to help close gaps across education, job training, employment and income disparity. Research shows that 43 percent of the military community is listed as ethnic minorities and almost half of USAA employees identify as a person of color. USAA has directed a significant grant commitment to 27 different local and national nonprofit organizations working to improve economic opportunities for people of color and low-income military service members.
“We are honored to help support the work that GreenPath is doing for our communities in which we live and work. Their initiatives align with our company mission and work to help close inequality gaps,” said Harriet Dominique, Chief Diversity, Inclusion and Corporate Responsibility Officer at USAA.
Those seeking guidance from GreenPath Financial Wellness can obtain one-one-one counseling by calling 866-648-8122. Assistance is free, and no appointment is necessary.
About GreenPath Financial Wellness
GreenPath Financial Wellness is a national nonprofit that has empowered people to manage their debt, buy and remain in their homes, and lead financially healthy lives for 60 years. As one of the largest financial counseling agencies in the nation, GreenPath has assisted millions of people with education and products in debt and credit management, student loans, homeownership and foreclosure prevention. Headquartered in Michigan, GreenPath and its affiliates work directly with individuals, banks, credit unions and employer partners across the U.S. from more than 50 locations and through phone access and online tools. GreenPath is a member of the National Foundation for Credit Counseling, Michigan Diversity Council, Texas Diversity Council, and is accredited by the Council on Accreditation. To learn more, visit www.greenpath.org or call 866-648-8122. Follow the nonprofit on Facebook and Instagram @greenpathfinancial and on Twitter @GreenPath.
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CONTACT: GreenPath Financial Wellness
KEYWORD: TEXAS MICHIGAN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES OTHER EDUCATION FINANCE CONSULTING TRAINING EDUCATION BANKING OTHER CONSUMER PROFESSIONAL SERVICES WOMEN PHILANTHROPY MEN FOUNDATION FAMILY OTHER PHILANTHROPY CONSUMER
SOURCE: GreenPath Financial Wellness
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PUB: 01/14/2021 01:14 PM/DISC: 01/14/2021 01:15 PM