NEW YORK–The $966-million Self-Help FCU and the $851-million Self-Help Credit Union have successfully launched financial counseling and coaching pilots with the Pathways to Financial Empowerment program, according to the National Federation of Community Development Credit Unions.
Self-Help FCU's Pathways pilot has launched in their Pittsburgh and Vallejo branches in the Bay Area in California, while Self-Help CU's pilot is operating in two of the credit union's Asheville, N.C. branches, the Federation said.
“Through this pilot, Self-Help is working with expert counselors to offer one-on-one financial counseling to credit union members, using the Pathways to Financial Empowerment platform to track individuals' financial well-being and the impact of the credit unions on their communities,” according to the Federation.
Launched by the Federation and Neighborhood Trust Financial Partners in 2015, Pathways to Financial Empowerment is a financial counseling model that helps credit unions deliver consistent, best-practice financial counseling and coaching, supported by first of its kind technology, to low-income and underserved people, the Federation added.
"We are excited to have Self-Help join our growing network of Pathways credit unions, bringing outcomes-driven financial counseling to the underserved communities Self-Help serves in California and North Carolina,” said Federation CEO Cathie Mahon. “While community development credit unions have provided financial counseling for years, Pathways provides the first integrated tool to structure consistent financial coaching sessions, help members to set financial goals and to track progress toward those goals.”
"We are always looking for ways to provide more and better financial coaching and other forms of education that promote financial empowerment," added Steve Zuckerman, president of Self-Help Federal Credit Union. "We appreciate the Federation and Neighborhood Trust for developing the Pathways platform, which is helping us try new ways to support our staff and members."
The Federation said that 12 community development credit unions are on the Pathways technology platform, and have served more than 2,000 members across the country.
For info: contact Michelle Parker, Federation Program Officer, at email@example.com.