Our Wealth Development program provides clients with housing and financial counseling services. From homebuyers and renters to people who are experiencing homelessness, we provide customizable group and 1:1 education and coaching to help. Our clients are encouraged to create a plan to help them save, control their spending, reduce their debt and build their credit with a goal of homeownership. Asset building through homeownership is a main goal of our program along with financial stabilization and wealth creation.
Financial Workshops and Programs
The Urban League Twin Cities partners with the Family Assets for Independence in Minnesota (FAIM) program to offer Individual Development Accounts (IDAs), which are matched savings accounts that help people with modest means to save towards the purchase of a lifelong asset, such as a home.
At the end of our program, you’ll know how to build a budget and savings plan, strong created and better banking practices. We’ll work to stabilize your housing and create a pathway to home ownership.
You will work with a HUD certified Counselor in the CreditSmart program, an interactive curriculum, which teaches you about the 4 C’s of credit – acquiring credit, repairing bad credit, maintaining a good credit score, as wells how to as protect yourself from identity fraud. Upon completion of the course, you have will have a sound understanding of budgeting, your credit report and how to maintain strong credit for life.
This one-on-one workshop can help you achieve banking independence. Participants will work with a Wealth Accumulation counselor to identify and remove obstacles to mainstream banking. You will review your checking account histories, Chex Systems report, and budgeting habits. You will also review and/or identify your current costs for banking at Payday lending stores, check cashing stores, pawnshops, rent to own and other more expensive options. You will learn how to investigate banking fees and charges before you decide which credit union or banking relationship best fits your needs and review your credit report to identify other obstacles to obtaining a banking relationship. This 2-hour workshop is offered by appointment only.
North Plus is a network of North Minneapolis organization dedicated to increasing your financial well-being. This partnership is with the Urban League, Northpoint Health and Wellness, Summit Academy OIC and Hope United. This pilot program has four areas of focus – financial coaching, career coaching, health and wellness and training and certification. If you’re interested in this pilot program, email firstname.lastname@example.org.
Housing Workshops and Programs
This workshop covers fair lending practices, identifying lending scams and rental discrimination. Qualifying clients will have free access to legal consultation offered through the Legal Aid Society of Minneapolis and Voluntary Lawyers Network. One-on-one counseling is also available by appointment. This presentation is mobile can be delivered at housing sites, job sites, community gatherings, etc.
This program is designed to utilize a variety of existing resources to assist tenants who are in danger of losing their rental accommodations. Resources include but are not limited to: community agency/government programs, emergency shelter, free legal assistance. A HUD Certified counselor will work with you to analyze your situation, including your needs and the barriers to keeping or finding accommodations. You will be connected to resources that can help to resolve your issues, including services offered by the Urban League as well as partner agencies in the community.
Realizing the American Dream is an educational homebuyer education course. The course offers an interactive curriculum on all of the aspects of purchasing a home. Realizing the American dream offers non-biased, third party advice and access to multi-faceted resources. The curriculum covers: are you ready to buy a home; managing your money; obtaining a mortgage loan; shopping for a home; and protecting your investment. Upon completion of the course, each person is assigned to a HUD-approved housing counselor who works with them one-on-one to create their individual road map to home ownership.
Better budgeting and savings plan
In 2015, 104 of 135 of our clients increased savings by $98,000.00 – that’s an average of over $940.00 per household.
Stable and Safe Housing
In 2015, more than 80 percent of our rental clients were able to secure a safe place to live.
Check out this video where Alysha shares her story about how the Wealth Development program changed her life.