CredAbility: Nonprofit Credit Counseling & Education

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Phone: 404-653-8809 Email: [email protected] CredAbility Presentation CredAbility Presentation Center for High Impact Philanthropy Addressing the Needs of Vulnerable Families November 8, 2010 Suzanne Boas, CredAbility president

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Suzanne Boas of CredAbility's presentation at the Center for High Impact Philanthropy's Donor Education Seminar.

Transcript of CredAbility: Nonprofit Credit Counseling & Education

Page 1: 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

-

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