WS Chronicle

In above photo: United Way logo

Special to The Chronicle

A $200,000 grant to the United Way of Forsyth County will help low- and moderate-income residents receive financial coaching and enhance their financial skills.
The grant is part of the Financial Capability Network (FCN), a partnership between United Way and Wells Fargo.
Established in 2012 with a five-year, $5 million Wells Fargo grant, the network aims to strengthen the financial stability of individuals and families in Forsyth County and seven other communities across the country. Piloting strategies like coaching, financial wellness classes and budget workshops, the Financial Capability Network’s goal is to better equip individuals and families to make financial decisions that will improve short-term cash flow and long-term financial stability.
In Forsyth County, the FCN program is called The Point, a mobile financial stability unit that brings services directly to residents, schools, neighborhoods, community events and places of worship.
The Point is operated by Financial Pathways of the Piedmont and managed in conjunction with Goodwill Industries of Northwest N.C. and Experiment in Self Reliance, all long-time partners of the United Way.
The vehicle is outfitted with computers, internet access and the software needed to provide clients with an array of services, including: credit and debit counseling, financial education, free tax preparation, job training and preparation, information about banking services, assistance with financial aid applications for students applying to college, and asset building services that focus on homeownership.
Upcoming local events where The Point will be present include:

*July 18 – Stomp Out Poverty event,  8 a.m.-noon at Experiment in Self Reliance
*July 25 – Community Day event,  noon-4 p.m. at the City of WS / W.C. Sims Recreation Center
*Aug 15 – Alpha Kappa Alpha Sorority Inc. Community Day,  1 p.m.-5 p.m. at Carver High School

“The beauty of this program is that The Point brings these much needed financial coaching services directly to the people who need them most.  The schedule of appearances is developed based on requests from residents and organizations in the community,” said Cindy Gordineer, president and CEO of United Way of Forsyth County.
More than 19,300 people across the United States have received financial coaching during the first three years of the United Way/Wells Fargo partnership.
Of those, more than 12,000 people have set long-term financial goals, 4,775 have increased their income and more than 2,740 have increased their savings.
The next two years of the grant will focus primarily on financial coaching.
“We believe that financial coaching is one of the most effective strategies in helping to change the financial situation of individuals and families,” said Peggy Reingold, community relations, Wells Fargo.  “This kind of ongoing support will empower families as they begin to get on more solid financial ground and stay there. As the number of individuals involved grows, so does the overall impact on our communities and our economy.”
In addition to Winston-Salem, the Financial Capability Network is underway in Jacksonville, FL; Miami; Atlanta; Des Moines, IA; Houston; Phoenix; and San Francisco.
For more information on The Point or to schedule an onsite visit, please contact Ron Wilkins at 336-788-4965, ext. 201 or rwilkins@goodwillnc.org.
To follow broader FCN activity, engage at #changeaddsup.