CREDIT ADVISORS FOUNDATION RECEIVES $10,000 WELLS FARGO GRANT TO FUND PARTNERSHIP
Updated: Jan 1, 2019
A Press Release I wrote during my time interning at Credit Advisors Foundation, a financial services non-profit based in Omaha, NE, during the Summer of 2017.
Omaha, Neb. – (July 5, 2017) Credit Advisors Foundation (CAF) is honored to receive a $10,000 grant from the Wells Fargo Housing Foundation to fund a financial counseling community partnership program with Habitat for Humanity of Omaha.
This unique program places a Credit Advisors Foundation certified financial counselor on site at Habitat for Humanity so the organization can better serve their constituents who require financial assistance. Mutual clients can receive immediate financial counseling while on site at Habitat Omaha.
The idea was the brainchild of Amanda Brewer, CEO of Habitat for Humanity of Omaha. “We are thrilled to partner with Credit Advisors Foundation. Often, applicants come to us with credit issues that prevent them from qualifying for our Homeownership Program. While they are eager to address these issues, many families don’t know where to start. Credit Advisors Foundation is a great resource that helps applicants understand their credit situation and gives them the tools they need to make a lasting change—and qualify for our program!
Habitat officials estimate they may see more than 1,000 people who are in need of credit counseling and debt management services annually. They do not have the ability or bandwidth to provide these services, however. Habitat believes when this service is provided, their eligible applicant pool that can meet the requirements of their programs becomes larger.
“We’ve had a rich history of working with Credit Advisors Foundation and Habitat for Humanity of Omaha to strengthen our neighborhoods,” said Kirk Kellner, regional president for Wells Fargo in Nebraska. “Wells Fargo is proud to support innovative community collaborations such as this one, especially since the credit counseling and debt management program is focused on helping people succeed financially — that’s at the core of what we do.”
“We are excited and grateful for the community support we have received from Wells Fargo,” said Sam Hohman, CEO & President of Credit Advisors Foundation.
Habitat’s Homeownership Program sees families whose income is 30 – 60 percent of the AMI for the Omaha MSA, and those rejected from their programs represent the lower end of this spectrum, although some are above the 60 percent AMI. Having a CAF Credit and Debt Management Counselor housed in the Habitat office creates a “one-stop shop” where all applicants have the benefit of receiving immediate, direct credit and debt management solutions. Services include budget development, credit report review and action plan creation to address the family’s housing goals.
This program began with a pilot run in October 2016, and since then, five other area organizations have requested similar in-house counselors for their programs for homeownership and repair/rehab.
About Credit Advisors Foundation
Credit Advisors Foundation is a 501(c) 3 financial counseling and HUD approved multi-state housing counseling agency headquartered in Omaha, Nebraska with offices in Council Bluffs, Iowa and Scottsdale, Arizona. It is dedicated to improving lives through financial literacy to create economic inclusion and upward mobility. Visit us on-line at www.creditadvisors.org or call 1-800-942-9027.
About Wells Fargo Housing Foundation
In 2016, the Wells Fargo Housing Foundation donated nearly $20 million in support of affordable housing initiatives serving low-and moderate-income households – including for seniors, veterans, and families – through community revitalization efforts. Since its inception in 1993, the Wells Fargo Housing Foundation has invested more than $190 million to such efforts, along with mobilizing more than 4.78 million team member volunteer hours to build and rehabilitate more than 7,600 homes and counting.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in more than 1,300 communities throughout the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.