Consolidated Credit Celebrates 28 Years of Financial Literacy

Gary Herman, President of Consolidated Credit

Good morning and thank you for joining us today for Consolidated Credit’s celebration of financial literacy month. And these are unprecedented times and we’re proud to work with you our partners to help bring relief to those most affected by the current coronavirus pandemic and the ensuing financial crisis that some people are experiencing today.

As many of you had to do last March we quickly adjusted the way we deliver our services—especially our financial education programs. Today you’ll hear from our financial educators and community outreach team about how these programs were delivered this past year. I’m very proud of the work they’ve done as they have worked tirelessly to bring you programming that’s meaningful in addressing the current challenges that many are experiencing.

I appreciate your collaboration and support and look forward to a great 2021. Thank you.

Maria Gaitan, Director of Housing Counseling and Community Development

So, we are here today celebrating financial literacy month. And let me tell you our financial education programs are made so much better under the direction and the leadership of our director of education April Lewis-Parks. So, let’s welcome April.

April Lewis-Parks, Director of Financial Education

Wow, thank you so much, Maria, thank you so much. And thank you all for being here and good morning. You’re going to be hearing from some wonderful  people later on in the program so at this time I want to share with you two numbers. They’re from a poll Consolidated Credit conducted in December.

We asked a thousand people how they’re financially surviving the pandemic. Some were Consolidated clients and some weren’t. But the numbers I want to tell you about are 60 and 30. Rounding off 60 is the percent of our clients who took the survey and said they were actually better off at the end of 2020—during a pandemic—than they were in 2019. It was only 30 for those who weren’t our clients.

Here’s where it gets interesting. Most people who responded to our poll had actually lost income in 2020. So, they weren’t better off because they were earning more money. They were better off because they were spending smarter and had gained financial literacy.

That’s what’s special about this place. And yes, we help people get out of debt. But we also teach them to stay out of debt and to manage money smarter—even during a pandemic. I love my job and I love these people because they’re not just credit and housing counselors. They’re teachers.

7^th Annual Financial Literacy Month Celebration 2021, Narrator

Consolidated credit has been educating and helping people about financial literacy for 28 years. And, to date, we’ve helped over 10 million people find financial stability. The COVID-19 pandemic brought many challenges to people across the globe. Consumers’ personal finances were threatened on various levels.

In response, Consolidated Credit’s financial educators reached out to the community to assess their needs. After quarantine orders were made, the educational team adjusted their delivery methods to meet the need for socially distanced remote learning for partners and the public.

Seminars and workshops had to be reimagined. And they were turned into online webinars. In total, educators presented a record of 179 webinars with over 5,000 attendees and distributed over 14,500 educational financial publications.

Consolidated Credit also focused on and promoted a COVID-19 online resource center that includes short-term and long-term financial advice, scam alerts, government updates, as well as how to adjust finances around reduced income, how to navigate job layoffs, and tips for coping with financial stress.

Youth programs

Since early 2019, Consolidated Credit has partnered with the Girl Scouts of Southeast Florida. And in 2020, we helped local girl scouts earn financial literacy badges with three virtual personal finance sessions.

At five Broward County Florida high schools, we presented Budgeting 101. And at Deerfield Beach high school, we also conducted a train-the-trainer session with 20 high school seniors. The students were trained to teach lower classmen the importance of saving money and how to budget. These special sessions trained 135 students how to successfully implement budgeting into their lives.

Military Programs

Since the pandemic began, our counselors have received thousands of phone calls from active Service Members, Veterans, and their families. Our educators were able to provide budget and credit counseling, as well as rental and foreclosure prevention counseling.

Community Outreach Programs

As part of our work within the Hispanic community, “Budgeting on a Fixed Income” was presented to residents at Villa Madonna, which is a senior citizen low-income housing apartment subsidized by HUD. And in collaboration with the Hialeah Housing Authority, we taught “20 Ways to Save Money When Facing Financial Challenges.”

As part of our mission to educate, we participated in local and national education TV segments.

With a focus on the Creole community, we presented “First Steps to Homeownership” in partnership with Village Academy’s Adult Education Director.

Working with the Miami YWCA, the Jack and Jill Foundation, Children’s Services Council of Broward County, and the CLIO institute, educators were able to present an assortment of counseling methods that included one-on-one counseling, financial coaching, and webinars that are designed to help families learn how to remain afloat during this crisis. Sessions addressed budgeting, savings, and credit with the goal of achieving financial stability.

Small Business Programs

Nick Sortal, City of Plantation Council Member: Consolidated is among the leaders in teaching fiscal responsibility. They always do outreach; they’re always trying to help people.

Narrator: To further our mission of financial stability, we’ve presented five business readiness certification trainings in collaboration with Riviera Beach and the City of Plantation.

In partnership with the Palm Beach County library system, we are presenting a monthly webinar series in English and Spanish that will run through December 2021.

Adam S. Davis, Director of System Services, Palm Beach County Library System: We’re offering financial literacy opportunities through different methods. I think there’s always going to be a need to learn more about finances, credit, owning a house, honestly just living in the United States

Narrator: And we are providing 11,000 personal finance publications now located at 17 library sites across the county.

But none of this would be possible without our partners and funders. Thank you for your dedication to the community and commitment to promoting financial stability.

Maria Gaitan, Director of Housing Counseling and Community Development

Hello again. All of these wonderful programs would not be possible without the unwavering support of our funders, as we acknowledge in the video. And today, I would like to give a special recognition and introduce to you an outstanding partner and supporter Mo Corker.

Mo Corker, External Affairs Market Manager, Comerica Bank

Hello, everyone. I am Monique “Coach Mo” Corker and I am the external affairs market manager with Comerica bank, serving the Florida market, Broward County, Collier County, and Palm Beach County. I am so excited to be here speaking with all of you today on the wonderful partnership and commitment that we at Comerica bank have with Consolidated Credit.

Having partners like Consolidated Credit is what allows us, as a bank, to raise the expectations of what a bank can be in the communities that we serve. As to why I am proud today to announce this wonderful philanthropic investment for five thousand dollars to Consolidated Credit.

Having organizations that are able to provide different types of programs and services, such as home ownership, financial education, technical assistance. We with Comerica Bank and Consolidated have provided over five, strong, six-week workshops that we call our Comerica Businesses Boot Camps, where small businesses and entrepreneurs get together six weeks and learn everything from beginning to end, when it comes to running and scaling their business.

This is how you change the trajectory of communities when you partner with organizations like this. Maria, you’ve been a great community partner. I love working with you. I want to continue to work with you. And I’m going to turn it back over to you for you to tell everyone else what else to expect on our upcoming Business $ense Boot Camp that will be on April the 13^th.

Maria Gaitan, Director of Housing Counseling and Community Development

Now—well, thank you, Mo, very much. Now, this is one of my favorite parts of today’s program because I have the opportunity to highlight and introduce to you two wonderful community partners who have worked tirelessly with us to bring financial education and resources to their communities.

It has been my privilege to work with Anita Jenkins of the Riviera Beach Community Redevelopment Agency to bring a program for small business owners and startups.

Let me share with you a short clip…

The Business Readiness Certification Training, sponsored by Comerica Bank, was presented by Consolidated Credit in partnership with the City of Riviera Beach Community Redevelopment Agency to give local small businesses, entrepreneurs, and startups the knowledge, the tools and the resources to build a sound and successful enterprise.

The attendees learn how to create a business plan, about legal and accounting principles, about marketing and, of course, how to utilize social media. They learn about alternative financing and how to do business with local government.

At Consolidated Credit we believe that when we educate, promote, and strengthen small businesses we empower the individuals, their families, and the community. We thank all the presenters and congratulate the graduates. Thank you.

Anita Jenkins, Riviera Beach Community Redevelopment Agency

My name is Anita Jenkins. I’m the director of neighborhood services for the Riviera Beach Community Redevelopment Agency. I connect residents to opportunities and this class is one of the best examples that I could think of that does that.

Working at the CRA, we’re focused on economic development, and with economic development we should be fostering small business. I think this program is important because we do things on a grassroots level.

I think that if you come back here in five years when we have shiny new buildings, when we have revitalized neighborhoods, that you will see a vibrant, vibrant, vibrant small business core.

Bruce Lewis, President and CEO LB Limited & Associates

Thanks to Consolidated Credit who put this program together and presented this program on behalf of the City of Riviera Beach CRA and sponsored by Comerica.

These students now have a leg up and have an advantage to be competitive, self-sustaining

small businesses within the City of Riviera Beach.

Maria Gaitan, Director of Housing Counseling and Community Development

It is my pleasure now to introduce to you our partner and my friend Anita Jenkins.

Anita Jenkins, Riviera Beach Community Redevelopment Agency

Hello. Ii am so happy to be here today with you and I really appreciate the recognition for me and our business readiness program. Our partnership with Consolidated Credit has been a sheer pleasure. The professionalism, the collaboration, the ideas have just been tremendous through the years.

We’re so happy to be here to share, and to be able to let you all know what a great collaboration it has been. I want to thank you again for recognizing us and we want to invite you to our next series of business readiness classes on April 13^th. Thank you again.

Maria Gaitan, Director of Housing Counseling and Community Development

As you have already heard, we at Consolidated Credit are proud to serve those who serve us.

Peter Caspari, Director of Employer Outreach, ESGR

It is indeed an honor to represent the Department of Defense Employer Support of the Guard and Reserve—better referred to as ESGR—being recognized today at this event.

Our mission is to be a strong advocate for Service Members, their families, and employers to ensure all stakeholders benefit from the dedication and sacrifice of our reserve component Service Members in their pursuit to serve our country and maintain civilian careers. We have a network of over 3,300 volunteers in all 50 states assisting our Guard and Reserves.

However, collaborating with organizations such as Consolidated Credit that coordinates financial education and guidance, as well as assisting with credit resolution through their network of financial partnerships, has greatly helped those Service Members in need.

Whether it is working in conjunction with our ESGR program through unit visits and Yellow Ribbon Initiatives, Army OneSource, and the Veteran Network, Consolidated Credit’s military financial education program has helped our reserve component members with some of the unique challenges faced by members of the military.

 

Maria Gaitan, Director of Housing Counseling and Community Development

This past year we lost a dear colleague Victor Sola. Victor was a housing counselor and a credit counselor. And Victor did not only embody the best in people, but he had a love for the work we do, either by helping a family buy their first home or helping someone save their house from foreclosure.

I could ask victor to meet me at the office at seven in the morning on a Sunday to do some work and he would be there without a question. We could always count on him. I could always count on Victor.

So, I am proud to announce that this year we are introducing a scholarship to honor him. We had an essay competition. And now to introduce the details of the essay competition and to introduce the winner is one of our longtime supporters and sponsor of today’s program Michelle Collie.

Michelle Collie, Community Development Manager, City National Bank

Hello. I am Michelle Collie, and as Maria mentioned, I’m the community development manager for City National Bank of Florida City. National Bank is proud to sponsor today’s events and to partner with Consolidated Credit. We are here to help first-time home buyers achieve the dream of home ownership.

The topic of the scholarship competition was what are the pros and cons of student loans. And it was introduced to students who are seniors who are enrolled in the KOP mentoring network program. The KOP mentoring network is headquartered in Delray Beach and it is a character-building mentorship and gang prevention program designed to foster leadership, academic success, and civic mindedness in youth ages 7 to 17. They prepare our youth to thrive in school, work, and civic life.

And now it is my honor to present the winner of the $500 Consolidated Credit Victor Sola Excellence and Financial Education Scholarship to Elizabeth Delphi.

Elizabeth is a senior at Village Academy in Delray Beach and plans to go to Palm Beach State College to study nursing. Congratulations, Elizabeth.

Maria Gaitan, Director of Housing Counseling and Community Development

Thank you, Michelle, thank you so much. Thank you. Wow, what a what a day. Now, as we move forward to the next normal our director of education April Lewis-Parks will close today’s program with the state of financial education in the time of COVID and going forward. April…

April Lewis-Parks, Director of Financial Education

Oh, thank you so much, Maria. So, it goes without saying that the pandemic has upended personal economic lives. And one issue that has become more obvious is the need for financial literacy.

COVID-19’s impact on the economy has been worse than anything we’ve seen since the Great Depression. And many Americans have seen drastic changes to their finances, spurred by unemployment, reduced wages, business closures and stay-at-home orders.

A Pew Research survey found that roughly three in ten adults said they worried every day or almost every day about the amount of debt they have. A quarter worried about paying their bills and the high cost of healthcare. And almost one in five worried often about paying their rent or mortgage, or being able to buy enough food for their family.

Another survey by Charles Schwab found that 63 percent of American adults want financial education to be a priority in schools. I was pleasantly surprised that the survey showed that so many Americans acknowledge the need for financial literacy. The fact that more people are recognizing the power of financial literacy gives me hope.

And while some Americans found themselves contributing more to their savings than ever before, a record number of unemployed and reduced-income workers were forced to readjust their budget and forego savings. Over half of Americans surveyed wished that they had a better understanding of money earlier in life. They wished they would have learned about the value of saving money and how to set and achieve financial goals.

Now, it makes me think how many of you have ever wanted to grant a wish? This is our opportunity and our moment. This year—more than others—teachers saw the value of having personal finance education in schools. Although it’s been a tough year, students are watching the news and seeing more first-hand why personal finance education is so important.

Today, many kids have a better lens into how their families were able to survive the pandemic financially or they were not.

So, where does this leave us? Is this a social justice issue? Many people don’t have equal access and knowledge to financial education. All sectors need to come together and make it a priority. If we can bring in all sectors—the government, the state, the school system, families, workplace, non-profits—we can move the needle.

Financial education should be a bigger priority in this country. We need to lobby our political and civic leaders and tell them how financial literacy can be an equalizer in our society.

Listen, it’s about so much more than money. It’s literally about freedom. If we can educate more young people from all walks of life, we can be the change makers. And this is why we need you, our partners, to help us bring financial education to those people who need it most.

Okay, well thank you so much for your time and dedication to making change. We are so happy you’re here with us and you’re invaluable to us.

Thank you again. Maria…

Maria Gaitan, Director of Housing Counseling and Community Development

Guys, thank you. April, yes this is, this uh, these are unprecedented times and, um, we have a really big role to play, we do. So, before we say goodbye let us once again—as we do every year—recommit. Recommit ourselves to bringing financial education programs and resources to our communities.

Thank you, all, for attending today. Have a great day and have a—actually—a great weekend, a great year. Thank you.