CredAbility: Nonprofit Credit Counseling & Education
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Transcript of CredAbility: Nonprofit Credit Counseling & Education
Phone: 404-653-8809Email: [email protected]
CredAbility PresentationCredAbility Presentation
Center for High Impact Philanthropy
Addressing the Needs of Vulnerable Families
November 8, 2010
Suzanne Boas, CredAbility president
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CCCS of Greater Atlanta is now CredAbility
On May 26, 2010, Consumer Credit Counseling Service of Greater Atlanta changed its name to CredAbility
Helps to eliminate confusion with hundreds of other agencies across the country with similar-sounding names
Makes it easier for people to identify and find the resources they are seeking
Provides a brand that is more consistent with our position as a leading national provider of credit counseling and education
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Our Agency
Founded in 1964, CredAbility is a family of Consumer Credit Counseling Service (CCCS) agencies that includes:
• CCCS of Greater Atlanta
• CCCS of Central Florida and the Florida Gulf Coast
• CCCS of Palm Beach County and the Treasure Coast
• CCCS of East Tennessee
• CCCS of Jackson (Mississippi)
• CCCS of Upstate South Carolina
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Our Agency
CredAbility is…
A full-service, nonprofit, financial counseling agency headquartered in Atlanta, serving clients in all 50 states, plus Guam, Puerto Rico and the US Virgin Islands
Accessible, providing counseling in-person at 25 locations across the southeastern US and 24/7 over the telephone and Internet
• In 2009, over 1.7 million consumers reached out to our agency for help with their financial needs
Accredited by the Council on Accreditation (COA) of Children and Family Services
Certified as a National Intermediary by the US Department of Housing and Urban Development (HUD) to provide both comprehensive and reverse mortgage housing counseling services
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Our Mission
We… Help financially-distressed people move from crisis to control by
providing compassionate service with innovative and practical solutions
See ourselves as a financial emergency room, creating hope and inspiring lasting change
Are committed to comprehensive, holistic counseling -- our counseling programs are designed to help clients assess their financial situation, set clear goals and establish a realistic, written action plan
Are innovative and responsive, helping clients according to their needs -- where, when and how they prefer to access our services
Conduct research to measure our performance and outcomes
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What We Do
Housing Counseling
We help consumers achieve and maintain stable housing, serving more than 122,000 Americans through pre-purchase, foreclosure prevention, reverse mortgage, rent delinquency, post-occupancy and loan declination counseling in 2009
Budget & Credit Counseling
We offer free individualized advice to consumers, helping more than 69,000 Americans develop and balance budgets, manage money, use credit wisely, handle debt and build savings plans in 2009
Debt Management Plans
We develop affordable, structured, reduced payment programs for consumers, helping nearly 29,000 financially distressed consumers repay more than $118 million to unsecured creditors in 2009
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What We Do
Education and Public Outreach
We teach a broad range of money management and financial classes to consumers
In 2009, we taught over 78,000 consumers through our money management and housing education seminars
Bankruptcy Counseling & Education
We are among a select group of nonprofit agencies approved by the Executive Office for United States Trustees (EOUST) to provide budget and credit counseling for bankruptcy filers nationwide
In 2009, we provided:
• Pre-filing bankruptcy counseling to more than 260,000 individuals
• Pre-discharge education to more than 120,000 individuals
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A National Service Provider
We serve clients in all 50 states, plus three territories
2009 CredAbility Client Distribution by ZIP CodeMap excludes AK, HI and Territories
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Counseling Growth
Since 2005, demand for our counseling services has grown 472%, to 388,000 sessions in 2009
Total Counseling Sessions
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50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
2005 2006 2007 2008 2009
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Housing Counseling
Driven by foreclosure prevention counseling, housing sessions have grown 2,034% since 2005.
Housing Counseling Sessions
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20,000
40,000
60,000
80,000
100,000
120,000
140,000
2005 2006 2007 2008 2009
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Committed to Client Success: Research & Outcomes
Custom research studies:
• Ensure the integrity of our work
• Provide valuable feedback for shaping public policy affecting non-profit credit counseling.
Topics include:
• The effectiveness of telephone and Internet counseling delivery
• Outcomes of foreclosure clients one year following counseling
CredAbility routinely captures, analyzes and reports data on client profiles, service levels and outcome measures
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Foreclosure Prevention Research
Clients completing foreclosure prevention counseling sessions improve confidence in their ability to meet their financial goals by more than 60%
A recent study found that one year after counseling:
80%80% are still in their home
78%78% have no foreclosure activity