Financial Stability

The Challenge

• More than 22 percent of Forsyth County’s children live in poverty. (Defined as a family of four having an income of $22,050 or less.)¹
• Over 37 percent of Forsyth County households have annual incomes of less than $35,000.²
• Credit cardholders carry an average debt of over $5,000.³
• Families spend over 14 percent of their disposable income to service their debt.⁴
• Medical costs/illness are the leading causes of family bankruptcy.⁵

¹US Census Bureau   ² Ibid  ³ money-zine.com  ⁴Ibid   ⁵Health Affairs journal, Study by Harvard Law & Medical Schools

 United Way's Goal

• Help individuals and families achieve greater financial stability

The Results

• Provided job training skills to more than 1,100 individuals and over 430 of these individuals obtained employment.
• Delivered financial management and debt counseling to 6,790 people.
• Assisted 78 households with economic self-sufficiency education in the areas of employment, budgeting, housing, childcare, transportation and health care.
• Gave 27 families low interest car loans (up to $4,000) enabling transportation to jobs or school for working adults.

United Way’s Partners

Advocacy for the Poor, Consumer Credit Counseling Service, Experiment in Self-Reliance, The Enrichment Center, Family Services, Goodwill Industries of Northwest North Carolina, Second Harvest Food Bank of Northwest North Carolina, Winston-Salem Urban League, YMCA of Northwest North Carolina, YWCA of Greater Winston-Salem

Success Stories

Judy Forlines got help saving her farm from foreclosure

In 2008, United Way identified an integrated, innovative service strategy that would respond to the comprehensive needs of lower-income families seeking to improve their financial situation, and opened the Career Connections and Prosperity Center at 585 Waughtown Street in mid-2008. 

 The Results

• 520 individuals have obtained a new or better job.

• 584 families and individuals have reduced their debt. 471 are consistently paying their bills on time.

• 79 chronically homeless individuals have remained in permanent housing for over one year. This is significantly better than the 30-40% success rate seen with traditional programming.

• 464 new units of supportive housing added to our community to house individuals how were previously homeless. (343 permanent supportive housing, 121 transitional housing)

 United Way’s Partners

 Led by Goodwill Industries of Northwest North Carolina in partnership with Consumer Credit Counseling Service, the Center for Homeownership, Experiment in Self-Reliance, and Family Services’ Ways to Work program.

2010 Financial Stability Video (full length/3:44)

2010 Financial Stability Video (short version/2:03)