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CEF’s 1-on-1 Financial Coaching

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The “Understand Your Credit History” FC Session — Most 1-on-1 sessions start with goal-setting/familiarization input boxes.

By Andrew Franklin:

I’ve heard it said that the exchange of knowledge is among the most intimate of human interactions. In my time at CEF, I’ve seen this exchange happen over and over again. Members share wisdom and experience with Advocates. Advocates share CEF’s resources and body of knowledge with Members as they walk together to achieve Members’ goals. This relationship-based model of learning and sharing is at the core of CEF’s mission and identity.

It was clear, when we recognized the need for a more intentional delivery of existing resources and knowledge through a Financial Coaching program, that we should start with a 1-on-1 approach.

We rolled out the first phase of our 1-on-1 program in January: sessions designed to be interactive and to optimize Member choice. Each session takes about an hour and involves learning financial capability skills and putting them into practice in order to write resumes and cover letters, pull credit reports and dispute errors, and build budgets and savings plans.There is a menu of 18 sessions in the first phase, which creates a great deal of flexibility and choice for Members. Additionally, we’ll be rolling out the second phase of Financial Coaching (FC) sessions this fall/winter, which will add a robust 25-30 sessions to the menu.

 

 

 

8 of the first phase of 18 Financial Coaching sessions!

8 of the first phase of 18 Financial Coaching sessions!

 

We look forward to continuing to build and improve this program, and are excited to watch it grow in CEF’s soil. We will continue to listen to Members and Advocates to brainstorm new additions and fixes to old sessions. As always, this is a community effort. We look forward to the relationships that will be built as knowledge is exchanged through the 1-on-1 Financial Coaching program!

Members are encouraged to complete 8 FC session at a time. They can add as many or as few as are relevant to their goals. However, Members who would like to qualify for a Safe Savings Account 10% match must complete 8, 1-on-1 sessions or Community Coaching (aka.  Opportunity Class), in addition to meeting their Savings Goal.

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Saving Creates Change

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2015 was a huge year for CEF’s matched savings program, assisting Members to save towards their personal goals of moving out of the shelter, building an emergency fund, purchasing personal transportation, and much, much more.

This year, after almost two years of research, design, Member feedback, coordination with experts in the field, and finally, some serious database programming, we published the new and improved CEF Safe Savings Account design. Safe Savings Accounts are goal-oriented accounts. Members have limited access to withdrawals of their savings until they reach their goals with CEF, and once they achieve their goal CEF matches their accomplishments at 10 percent!

We launched the program in 2010, and since then Members have saved over $500,000 towards their personal savings goals (amazing!). While many Members have made incredible progress towards

their goals, we set out to improve the overall number and portion of Members who achieve 100% of their goals. Moreover, we set out with a new objective to intentionally build opportunities for Members to create positive, long-term savings habits.

To bring these goals into reality, we partnered with locally based and nationally acclaimed expert on the topic — the Center for Advanced Hindsight at Duke University. The Center for Advanced Hindsight grounded their recommendations to CEF in behavioral economics research.behavioral-economics

In partnership with the Center for Advanced Hindsight, we made significant improvements to the design of our program to better assist CEF Members in setting and achieving savings goals. By combining their technical assistance with in-depth feedback from current CEF Members, we made exciting changes to CEF Safe Savings Accounts, including:

  1. A personal budget-building system that helps Members create detailed, actionable savings plans
  2. Automated text message and email reminders for scheduled deposits
  3. An emphasis on setting iterative savings goals, each attainable within six months
  4. New incentives to encourage more frequent and consistent deposits

And all of these improvements were made in a beautifully redesigned online portal that is easy-to-use and streamlined — making the process of setting and attaining savings goals as painless as possible!

savings_graphBased on the Center for Advanced Hindsight’s nationally recognized research, these changes will assist CEF Members in achieving the savings goals they set out to reach. For a preview of great things to come, check out the chart below to see the continuing increase in the number of active savings accounts managed by CEF and the total amount CEF Members saved in their accounts annually, which has doubled in just two years!

As we are always learning and charting new territory with our unique financial services, we are excited to continue our partnership with the Center for Advanced Hindsight in 2016 as they conduct a formal research trial. Stay tuned!

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Renter’s Savings IDA Pilot: Phase II

This July, five new savers joined CEF’s Renter’s Savings IDA program to begin Phase II of our Renter’s Savings IDA Pilot. The Savings Team here at CEF would like to welcome the newest members of the program and thank these five new savers for making a new commitment to saving and dreaming together with CEF.

The Renter’s Savings IDA program was originally piloted in 2012, specifically with renters in mind. Through CEF’s Safe Savings Accounts, the CEF Savings Team noticed that members who moved into housing often find it very challenging to continue saving when faced with so many new expenses. With utility bills and rent taking up such a large portion of income, it can be difficult for renters to put anything aside. Even after saving, unexpected emergencies would make it hard to hold on to that money. The Renter’s Savings IDA is meant to serve as an “Emergency Fund”—money set aside for financial security and peace of mind.

The new program was piloted with ten members currently in housing and ready to save for the long-term. While similar in set-up to our current Safe Savings Accounts, this program lasts at least 2.5 years and can be matched at 50% (up to $1,000 in matching funds). Additionally, savers may draw on the 50% match when the emergency occurs. This way, one emergency won’t wipe out all their hard-earned savings.

Over the past two years, advocates and savers participating in the program have learned a lot from the program that they have shared with the Savings Team so that we could adapt and improve the program for the next group of savers.

Here are some of our lessons learned from Phase I of the Renter’s Savings IDA Pilot and tweaks we’re making in Phase II of the pilot:

  • Auto-Save: In the first pilot phase, we’ve seen that participants using the “Auto-Save” feature were able to save much more than their counterparts who made deposits via online transfers or by cash. Auto-Save automatically deducts savings deposits from a personal bank account on payday–making saving cheaper, easier, and quicker! Our newest Phase II participants are all signed up for Auto-Save with CEF and have already started working towards their long-term goals.
  • One-on-One Financial Coaching: In the first pilot phase, we attempted to meet together as one large group to do an “Opportunity Class 2.0.” We soon found that with varying schedules and interests, meeting at least once a month in one-on-one meetings would be a much more effective way for Renter’s Savings IDA participants and their advocates to learn about relevant topics. Advocates and members participating in this program are learning and working on a variety of topics relevant to their long-term goals, including:
    • Building Credit
    • Preparing for Homeownership
    • Preparing for Car Ownership
    • Budgeting
    • Entertainment & Avoiding Scams
    • Retirement 101
    • Going Back to School & Making Sense of Financial Aid
    • …and more!
  • The Value of Multiple Accounts: In Phase I, several of our savers opened up their Renter’s Savings IDAs but maintained their Safe Savings Accounts as well. Having two accounts at CEF, in addition to a personal bank account, helped the savers to budget and use each account for different purposes.  Donna, for example, told us the following about how she uses her two accounts at CEF:

    “I have things coming up like my renter’s insurance; it’s $130 right off the bat, and I don’t have that just out of a check. So Safe Savings is for that — I save for stuff that I need and take it out when it’s time. The Renter’s Savings account, I don’t take that out for anything. That is going to be for when my car breaks down or I need another vehicle. And I am just not allowed to touch that. It really makes me feel better, knowing that’s there.”

In Phase II of the pilot, we’ll be encouraging members that already have a Safe Savings account to consider using both of their accounts, instead of just the Renter’s Savings IDA.

  • Long-term Goals: When we began the first phase of the pilot, the Savings Team had been primarily thinking of the accounts as emergency funds that may complement other goals like homeownership, but pretty strictly emergency-focused. With the first pilot phase, we’ve seen that the first ten participants didn’t necessarily think of their accounts this way. Santiago bought a dairy cow for his family when he met his goal. Here’s what some of the other Phase I participants said about “Why We’re Saving”:
    • Purchase a home, build up savings, save in 401K, start building college savings for my four children, and getting healthy!”
    • “My own transportation and starting a business”
    • “Finishing school and paying off student loans”
    • “Build my income. My goal is to help others become stronger in their faith, to not give, and stay motivated.”
    • “I’m just taking it one day at a time. I am trained not to try to think that far ahead.”
    • “Getting my GED and saving for a car”
    • “Be in school and nearer to graduation”

Saving towards emergencies is still the purpose of the account, but the way that we frame the accounts is important. At CEF, advocates and members aren’t just working towards financial security, but overall well-being for our community. That means following dreams and building community, not just budgeting and saving our last pennies. We have to know what we’re working towards together, and focusing on our long-term goals helps us to do that!

The next round of applications for the Renter’s Savings IDA Pilot will be available in November. Any questions about the accounts can be directed to Ariana Vaisey at savings@communityempowermentfund.org or by calling CEF in Chapel Hill at 919-200-0233. All CEF members in Durham and Orange Counties who have completed the opportunity class, are a signer on a lease, and are interested in a higher-commitment savings account with CEF are encouraged to apply, although only a few slots are available during this pilot phase.

From the CEF Savings Team and Renter’s Savings IDA participants, we’d like to extend a warm welcome to the newest 5 participants of the program! We look forward to learning and growing with you over the next two and half years.


The Renter’s Savings IDA program is completely supported by individuals like you. Sponsor a Saver and help us get there together! You can contribute to long-term change – Join with our pilot Savers as they continue to invest in their own and their family’s futures.

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Workshop on Institutional Power, Privilege, and Oppression (WIPPO)

By Nikhil Umesh and Omar Kashef

10660221_725767320828204_6081790238900184419_nFollowing two days with the Racial Equity Institute’s anti-racism workshop this past May, we left deeply moved and with a heightened sense of urgency. We feel it is necessary for CEF to not only discuss historical and ongoing racism, but begin a thorough exploration of institutional power, privilege and oppression as it relates to our communities in Durham and Chapel Hill. The initiative was Omar’s brainchild and stemmed from a project that he had been working on for the past year through his fellowship with Young People For. It was a culmination of many voices, perspectives, and ideas, and needless to say, was a long time in the making.

As CEF grows, Advocates bring a greater variety of skillsets and backgrounds to our organization. Leveraging the multiple identities and experiences we bring to our work, we posit that realizing one’s own systemic advantages and barriers will allow for a deeper understanding of the institutions that have granted and denied us access to power and resources throughout our lives.

The first Workshop on Institutional Power, Privilege, and Oppression (WIPPO) happened at Chapel Hill’s weekly general body meeting and at the last training for new Advocates. Our primary learning objective was for everyone to get acquainted with key terms (privilege, oppression, intersectionality, etc.) and frame them within commonly known systems of privilege and oppression. We touched on systems from classism to ableism to heterosexism, and discussed how they operate in everyday institutions such as housing and our healthcare system. Still, we aimed to frame our discussion not solely within the confines of CEF.

We are all implicated in these systems. There is no way around that. In discussing these issues, we try not to treat them as abstract or a sort of intellectual pursuit, which often happens in the context of a university. Rather, privilege and oppression continually manifest in our lived experience. So, we pushed beyond CEF, and incorporated tidbits on the university’s white supremacist legacy and its implication in the racialized geography of UNC’s campus. We showed a clip from a documentary by former student Laura Barrios that illuminates the “invisibilized white supremacist narrative that undergrads UNC and the wider Chapel Hill community,” calling to attention the Silent Sam monument, Saunders Hall, and Unsung Founders memorial, among others. Following the workshop, an Advocate mentioned value in highlighting the campus’ racialized geography:

“It emphasized the harm the university structure can have on perpetuating systems of oppression in this town, and that students have an obligation to mitigate or reverse those effects.”

Durham will be having their first WIPPO this upcoming Monday, Oct. 20 at their house course! The next Chapel Hill WIPPO will be held on Nov. 24 at general body, and we hope to see many folks there.

Sound awesome? Want to get involved? Have suggestions, feedback, criticisms? We would love to have you on board as we discuss and shape this workshop for Advocates in the future! Email Omar at omark@communityef.org to chime in and/or find out more.

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Job Partners

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A reflection on CEF’s Job Partners program, by Priya Sreenivasan

This summer, I’ve had the chance to work very closely with the employment side of CEF, which includes Job Partners! Throughout the summer, Doug, Hannah and I have been contacting employers in the local Chapel Hill area to see if they would be willing to sign on and be a partner employer. By joining as a partner employer, businesses have the opportunity hire qualified, work-ready candidates who have graduated from CEF’s rigorous employment program. Through persistent outreach, we’ve recruited several amazing new area employers to bring our list of Job Partners Employers to include:

– Elmo’s Diner

– Carolina Coffee Shop

– Lime Fresh

– Top This Burger

– Carol Woods Retirement Community

– Carolina Brewery

– The Franklin Hotel

– Fosters Market

– Bagels on the Hill

– Ben and Jerry’s

– Right at Home

– UNC-Chapel Hill Temporary Services

– PTA Thrift Shop

We are so excited by the community investment these employers are making by signing up as Job Partner Employers, and we hope others will follow their lead. Doug and Hannah have been hard at work contacting potential employers, and I know we all agree that it’s all worth it when someone gets a great job they love with a Job Partner employer. I’m excited to see the program grow this upcoming year, and I know with CEF behind it, it’s going to turn out some great results!

Interested in becoming a partner employer or know of an employer who you recommend we contact? Let’s connect! Contact jobs@communityempowermentfund.org.

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CEF Launches New Member Orientations

The short but meaningful quote, “CEF is for doers,” graces the top of the information sheet handed out at CEF’s New Member Orientations. Led by CEF alumni Dorothy and Tony, this hour-long session is exactly what it sounds like: a place for new members to become familiar with the resources offered by CEF. And by simply attending this meeting, they are already taking their first steps as doers.

Sarah Cohn has been instrumental in helping create and jumpstart this new program. She says that it came about because many people were coming into the office having been introduced to CEF in many different ways. Because of this, Sarah said, “people had varying understandings of what CEF membership looked like.” If you’ve ever seen CEF on a busy day, you will understand how a proper introduction to who we are and what we offer can easily slip through the cracks.

New Member Orientation is a work-in-progress, with kinks being worked out as the program continues. For now, the basic structure of the session consists of two parts: an introduction to the idea of member-advocate relationships, and an explanation of programs and services available to members. As Sarah said, “we’re more than open to suggestions!” However, after attending the orientation myself, it seems to be going off without a hitch. Introductions at commencement allow each person to be heard and recognized, and after the program explanations by Dorothy and Tony, there is plenty of time for questions from new members about specifics. When asked about the benefits of this program, Dorothy said that new members “get to ask more questions that they might not get to ask with their advocate.” She explained that there might be some intimidation in meeting someone new, and New Member Orientation allows the opportunity for an informal and holistic introduction to the services provided by CEF. There is even the chance to schedule one’s first appointment right after orientation! Talk about getting off on the right foot.

Current members in attendance heralded CEF for its ability to hold you accountable, provide a place to be heard, and, of utmost importance, give you somebody to walk with in the journey to reach your goals. Sarah reflected on what her hopes are for this program: “With the new orientation serving as a universal introduction point, we hope that everyone will get the most they can out of CEF by knowing in full detail what’s available to them – especially the relationship base of what we do.”

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Learning Cluster: Partnership with UMD and CFED

Janet Xiao, Alice Ni, Dennis Xu, and Keyona Cooper at UMD’s bi-weekly finance office hours (Keyona made that cool hat she is wearing!)

CEF at our on-site bi-weekly finance office hours at UMD! 

CEF is pleased to announce our participation with Urban Ministries of Durham (UMD) in the Corporation for Enterprise Development’s (CFED) Intensive Learning Cluster on Integrating Financial Capability into Social Service Delivery Programs. CEF and UMD were selected from a pool of over 100 applicants nationally to participate as part of this collaborative effort alongside 10 other organizations doing similar work to CEF.

Relationship-based financial services are CEF’s bread-and-butter, and this partnership with UMD is a unique opportunity to take a step back and look at how we can more intentionally and collaboratively build financial capability in to homeless services.

CEF is now holding office hours at Urban Ministries two nights every week and specifically working with UMD’s Journey Program, which provides case management support and shelter for 90 days or longer. Our previous on-site office hours acted as a launch point for this partnership. Because of the footwork of our past committed UMD members and the amazing team of Duke advocates, we are now able to jump-start an expanded partnership at UMD, one with much more support and structure. With the collaboration of the great case managers at UMD, CEF advocates can focus primarily on our strengths: relationships and financial services. We set up affordable credit union accounts with Self-Help Credit Union, make action plans for building credit, budget, save towards goals in Safe Savings Accounts, file taxes for free with the Benefit Bank, and more.

Through the learning cluster, CEF and UMD’s program will benefit from technical assistance through CFED, a national leader in asset-building, and we will have the opportunity to learn from our fellow learning cluster members – agencies providing emergency services, workforce development, and housing.  In January, we were given the incredible opportunity to go to CFED’s office in DC for a nationwide kick-off meeting where we were given incredibly helpful tools, advice, and connections that will continue to help guide our work at UMD.

Read more about the learning cluster on CFED’s blog and stay tuned for more results and lessons learned!

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CEF Health

by Krunal Amin

In a series of conversations with CEF members during the past few weeks, I was surprised to learn just how large of a delivery gap there is between the healthcare resources offered to those who are financially disadvantaged and the number of people who are actually positively affected by these resources. One member, who recently moved to the Chapel Hill community, told us that she often has no choice but to go to the emergency room whenever she has issues with her asthma – a common chronic condition that can usually be well controlled with drugs. When asked about her medication, she reported that the Piedmont Clinic in Carrboro filled out a prescription for her – but the medication ended up costing her around $90 so she never even bothered to pick it up. As for the cost of her multiple emergency room visits? She has a stack of bills from the hospital adding up to over $5000 that she simply can’t afford and doesn’t know how she plans on paying off. Had she known about the UNC Health Care Pharmacy Assistance Policy, she could have completed an application to prove that she qualified for financial assistance and ultimately could have reduced her $90 prescription to a much more manageable $4 co-payment, thus allowing her to not only have access the to the medication she needs to stay health but also potentially saving her thousands of dollars in medical bills. Unfortunately, applications to programs such as UNC Charity Care and Pharmacy Assistance are not always the most user-friendly forms to fill out as there are often many hoops to jump through to prove that you qualify. Additionally, many of the members we spoke with were unaware of other avenues they could be using to get better care.

In his bestselling novel, The Checklist Manifesto, surgeon and healthcare reform expert Atul Gawande points out that “medical innovation is less about discovering new inventions than it is about properly executing the ones we already have.” CEF Health is an initiative that aims to do just that by employing advocates to better connect our members to the resources they need to stay healthy. Over the course of the semester, our team has been working to compile all the healthcare resources available for financially disadvantaged members in the community. Our goal in the coming months is to train advocates in what resources are out there and how to access them in order to use them as health navigators for CEF members who are struggling to get the quality, affordable healthcare they deserve. We are excited to get this initiative off the ground, and hope that anyone interested will join us!

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A Different Search: Succeeding in our Job Partners Program

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If you would like to get involved with JobPartners as a participant or partner employer, please email us at info@communityempowermentfund.org

 

By Victoria Castillo

A job search can often be a difficult and tedious task. More difficult yet, is the search for the job– your dream job.   Whether you grew up dreaming of becoming an astronaut or a receptionist, your dream job is a treasure that most of us tend to take for granted. Some of us tend to believe that our dream job is simply out of reach. Whether it is due to a lack of education, the correct skill-set, self-confidence or a blemished record, we simply don’t try to go after our dream job.

The vicarious talk show host, Oprah Winfrey, once said, “The biggest adventure you can take is to live the life of your dreams.” We at CEF believe that it is never too late to go after your dreams. It is never too late to go after that adventure.

Our Job Partners program aims to unearth the dusty and forgotten dream jobs that belong to some of our members, and create a path on which they can arrive to them.  Job Partners was created by the Orange County Partnership to End Homelessness (OCPEH), “a community effort to fight poverty and eradicate homelessness in Orange County.” CEF is one of several organizations that partner with this county initiative to pair work-ready individuals with an available job in the community.

The Job Partner process begins with the community members serving as employer liaisons who network with local business owners to learn of available job positives and willing employers. Liaisons then refer job openings to the partner organizations, like CEF, who match qualified candidates with those positions. Our Job Partners graduates receive no preferential treatment from the employers. They fill out job applications and schedule interviews, just like everybody else. Their strength, however, is found in the personal recommendations that they receive on our behalf – a voice of support that lets the employers know that we truly believe that our candidate will succeed at their business.

The Job Partner Program motto reads, “Prepare, Place, Prosper,” and we at CEF believe that the program lives up to these three words. We prepare our candidates through job coaching sessions and Opportunity classes, we place them in positions in which we believe they will succeed and we carry the hope and faith that they will prosper in their new job position – in their new adventure.

Q&A with Job Partner Graduate Loretha Greene

When did you first start working on becoming a Job Partner candidate?

I began the process early in 2012.

Understanding that the program was a long term commitment, how did you remain motivated through the process of becoming a Job Partner graduate?

I was starting from scratch in my life. I saw a lot of opportunities in the program, like the Opportunity Classes, that I knew would help me, so I kept a positive attitude. I know that when you have a positive attitude, good things will happen, so that’s what I tried to do.

Were there difficult moments in the process?

The most difficult experience was simply not being able to find a job right away. But I kept going – every day, I filled out job applications and maintained a good attitude about it.

How did the Job Partner program differ from a regular job search?

I found more connections to local employers, through Job Partners. I felt that my job search became a little easier in that way. I would get to know more people in the community because the people involved in the program had a lot of connections. This helped me land more interviews, and though I did not get a job right away, I was able to meet a lot of people.

What was your biggest take away from Job Partners?

The desire and motivation to help other people who need work. Job Partners made me want to become an advocate myself and help other people.

I also learned to accept suggestions and act on them. My advocates would give me advice, and point out things that I had never noticed! I learned to take these suggestions and work on making those changes in my life.

What advice would you give to others who are unsure about joining Job Partners?

Just try it, and stick with it. Don’t give up, because it is an excellent program.

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Celebrating $100,000 Saved!

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Amazing. This month members of the Community Empowerment Fund (CEF) achieved a significant milestone, surpassing the $100,000 mark of collective savings deposits.

Now, almost three years since the program began, CEF members have cumulatively deposited over $100,000 towards their goals. As a result of all CEF savers:

  •  34  have successfully moved out of transitional housing and into apartments
  •  38 have prevented financial emergencies
  •  40 members have successfully saved to purchase laptops
  •  12 have purchased personal vehicles, achieving greater employability and mobility.
  • Most uniquely, 1 member purchased a dairy cow for his family

To celebrate this milestone, CEF will host a public ceremony on Friday, April 5th at 6:45pm at UNC. The event will take place in the Pit, the center of UNC’s campus, during the 6th annual Box-Out, an awareness raising event about homelessness and a fundraiser for CEF. CEF will honor members in the savings program present members with a plaque to commemorate their collective achievement.

RSVP for the ceremony to Maggie West, maggiew@communityempowermentfund.org, (919) 200-0233.

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CEF: Community Empowerment Fund

Chapel Hill: 919-200-0233 Durham: 919-797-9233

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