PRESS RELEASE CONTACT: Tory Gillett
Tory Gillett@uwforsyth.org
336-721-9319 (office)
For immediate release
United Way of Forsyth County Expands Financial Coaching with New Grant
Winston-Salem, NC (July 6, 2015) – A $200,000 grant to the United Way of Forsyth County will help low- and moderate-income residents receive financial coaching and enhance their financial skills. The grant is part of the Financial Capability Network (FCN), a partnership between United Way and Wells Fargo. Established in 2012 with a five-year, $5 million Wells Fargo grant, the network aims to strengthen the financial stability of individuals and families in Forsyth County and seven other communities across the country. Piloting strategies like coaching, financial wellness classes and budget workshops, the Financial Capability Network’s goal is to better equip individuals and families to make financial decisions that will improve short-term cash flow and long-term financial stability.
In Forsyth County, the FCN program is called The Point, a mobile financial stability unit that brings services directly to residents, schools, neighborhoods, community events and places of worship. The Point is operated by Financial Pathways of the Piedmont and managed in conjunction with Goodwill Industries of Northwest NC and Experiment in Self Reliance, all long-time partners of the United Way. The vehicle is outfitted with computers, internet access and the software needed to provide clients with an array of services, including: credit and debit counseling, financial education, free tax preparation, job training and preparation, information about banking services, assistance with financial aid applications for students applying to college, and asset building services that focus on homeownership. Upcoming local events where The Point will be present include:
- July 18th – Stomp Out Poverty event, 8am-12pm at Experiment in Self Reliance
- July 25th – Community Day event, 12pm-4pm at the City of WS / W.C. Sims Recreation Center
- Aug 15th – Alpha Kappa Alpha Sorority, Inc. Community Day, 1pm-5pm at Carver High School
“The beauty of this program is that The Point brings these much needed financial coaching services directly to the people who need them most. The schedule of appearances is developed based on requests from residents and organizations in the community,” said Cindy Gordineer, President and CEO of United Way of Forsyth County.
More than 19,300 people across the U.S. have received financial coaching during the first three years of the United Way/Wells Fargo partnership. Of those, more than 12,000 people have set long-term financial goals, 4,775 have increased their income and more than 2,740 have increased their savings.
The next two years of the grant will focus primarily on financial coaching.
“We believe that financial coaching is one of the most effective strategies in helping to change the financial situation of individuals and families,” said Peggy Reingold, Community Relations, Wells Fargo. “This kind of ongoing support will empower families as they begin to get on more solid financial ground and stay there. As the number of individuals involved grows, so does the overall impact on our communities and our economy.”
In addition to Winston-Salem, the Financial Capability Network is underway in Jacksonville, FL; Miami; Atlanta; Des Moines, IA; Houston; Phoenix; and San Francisco.
For more information on The Point or to schedule an onsite visit, please contact Dolores Hill at 336. 837-0656 or dolores@financialpaths.org. To follow broader FCN activity, engage at #changeaddsup.
About United Way of Forsyth County
United Way of Forsyth County believes quality of life relies on three building blocks—education, financial stability, and health. All three are critical and interdependent to the collective success of our community. United Way of Forsyth County changes the community by aligning resources and strategic partners to achieve measurable, lasting results. The organization invests in improving student success and the high school graduation rate, increasing financial stability among lower-income individuals and families, broadening access to health care and prescription medications to the un- and under-insured, and providing critical assistance to those facing immediate crisis. Learn more about our work at www.ForsythUnitedWay.org.
About United Way Worldwide
With 2.6 million volunteers and 9.6 million donors worldwide, and more than $5 billion raised every year, United Way is the world’s largest privately-funded nonprofit. It’s engaged in nearly 1,800 communities and 41 countries and territories worldwide to create community solutions that improve life for everyone. United Way partners include global, national and local businesses, nonprofits, government, civic and faith organizations, along with educators, labor leaders, health providers, senior citizens, students and more. For more information about United Way, please visit www.UnitedWay.org.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. In 2014, Wells Fargo donated $281.2 million in grants to 17,100 nonprofits, and team members volunteered 1.74 million hours around the country. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.