The RISE Foundation is proud to be apart of the Greater Memphis Financial Empowerment Center (GMFEC) which is a joint program in collaboration with the Shelby County Trustee's office. GMFEC is offering free financial counseling services to all Shelby County residents. The demand for services has doubled in these uncertain times and now is being conducted remotely in response to COVID-19 precautions.
Ms. B came to the GMFEC in March 2020. She was referred to GMFEC by Meritan and requested financial counseling because she felt that she would be unable to fix her current financial situation alone. So far, with the help of a financial counselor, she has been able to increase her credit score by almost 50 points, and reduce her delinquent accounts. She states, “I am confident that I can change my current financial situation, because working with a financial counselor has helped me understand how credit works.”
Her experience has been very rewarding and she wants others to know that they never have to struggle with improving their credit, putting together a budget or getting access to resources that they need to improve their financial health. She says that anyone who is curious about the GMFEC should not be afraid to ask for help. “Everyone at the Center has been wonderful and willing to help, especially my financial counselor. She has helped me increase my credit score, referred me to better job opportunities and helped me decrease my debt to free up more income for a savings plan.”
This is not the end of the road for Ms. B, as she has more financial goals that she would like to achieve. She states, “I plan to continue working with my financial counselor for as long as she will have me. I want to achieve more financial stability and secure better housing for my family. I now have more confidence that I can achieve whatever financial goals I set for myself.”
The Common Cents program at the RISE Foundation can be individualized to incorporate benefit programs like corporate employee assistance programs, financial wellness workshops for clients of nonprofit organizations or church congregations. Access to the GMFEC is open to all Common Cents workplans. Your support helps the RISE Foundation to continue innovative programs like these that benefit youth, adults and seniors struggling to reach self-sufficiency for themselves and their families.
In these trying times people are searching for ways to better deal with their circumstances. The church has always played an important role for those in need, and in Memphis there is one church that is uniquely meeting its congregation at their point of need. Through financial literacy and education, Faith Christian Church is working with the RISE Foundation to make faith matter.
Church leaders identified financial literacy as an effort that the entire congregation could work on as a church body. RISE conducted a Common Cents series in December 2019 and February 2020 for parishioners seeking to improve their knowledge of budgeting and how to teach credit to their families.
Everyone in attendance, including staff, were appreciative in learning how to better budget their finances, fill in money gaps, and how to recognize and change poor spending habits.
The series was facilitated by RISE on Saturday mornings and assignments were given. The interactive series utilized in class and family-oriented assignments that sparked discussion and active participation. Topics included banking, budgeting, debt management and spending strategies. At the conclusion of the series participants surveyed responded that they had a better understanding of debt, how to improve their credit scores and how to increase their savings.
If you are interested in giving the gift of financial freedom to your organization, business or civic group contact RISE today for a free consultation at risememphis.org
The RISE Foundation was fortunate to participate in several community fairs during the months of September, October and November to raise the bar on credit awareness and financial education for citizens of Memphis and Shelby County. Our Common Cents Program at RISE is effective for group discussions centered around financial wellness and can be integrated into workplace settings, seminars, workshops or community fairs.
Greater Memphis Housing Fair and House Then The Car (HTTC) were just two events that brought out the serious, and determined in our community who were ready to jumpstart their journey to better credit scores and financial self-sufficiency.
RISE worked in conjunction with other non-profits and community partners to assist Deutsche Bank with the Greater Memphis Housing Fair to provide participants with free credit report analysis. Event attendees were also able to set appointments with certified financial counselors for free one-on-one sessions through the RISE Greater Memphis Financial Empowerment Center (GMFEC).
In addition to the housing fair, RISE participated in the National Association of Real Estate Brokers current initiative on rebuilding inner city neighborhoods through homeownership and millennial investment. The HTTC campaign event featured RISE President/CEO and GMFEC Operating Manager as panelists for a discussion on dispelling the myths on repairing credit, budgeting for homeownership, and sustaining homeownership.
Your support of programs like Common Sense ensure that RISE continues to be able to bring awareness of financial education and literacy to businesses and organizations in a group format for both large and small entities.
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