PATHWAY TO FINANCIAL STABILITY
PATHWAY TO FINANCIAL STABILITY brings financial education and workforce development programing to our residents. Working families face difficult financial tradeoffs on a daily basis and our programs help residents take critical steps in stabilizing their individual financial situation. Budgeting assistance, credit repair services, and savings programs are all ways residents are encouraged to build a stronger financial future. With one in every four families that rent living a paycheck away from homelessness, financial security is a critical concern for our families. We are helping residents by providing access to financial institutions and teaching skills for securing more stable, higher paying employment. Through participation in these programs, residents of all ages are banking and building their savings: 66% of the participants in our America Saves Week workshops who pledged to save went on to open a savings account with a bank and met their savings goal within three months 94% of our teen internship participants opened their first bank account 88% of teen internship participants who completed the program met their savings goal
MEET TOM
Tom, a single father of two daughters, was working two jobs but still unable to make ends meet. Trying to improve his family’s situation, Tom joined the Budgeting 101 workshop at the community center and began to meet regularly with the resident services coordinator. Tom started sticking to a budget and cut his expenses. Tom also engaged his daughters in the process to help the family save by finding coupons and sales. His daughters are learning how to cook healthy meals on a budget at the community center’s cooking and nutrition classes. Now, the whole family is spending more time together as they work toward meeting their financial goals.
MEET BRITTANY AND KENWAN
In 2013, when Brittany and Kenwan first came to the
community center at St. Luke’s Plaza in St. Louis, they were struggling financially. Brittany was working part-time and Kenwan was working odd jobs. They worked with the resident services coordinator to create a plan to find more stable employment, increase their income, and improve their credit scores. Both Brittany and Kenwan landed good jobs with benefits. They continued to work on their goal of becoming homeowners by building credit and paying down debt. In 2015, they enrolled in a down payment assistance program, making it possible for them to buy their first home.
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OPERAT I ON PATHWAYS F I SCAL YEAR 20 1 5 ANNUAL REPORT
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