Amount Requested: $10,000 for our Financial Stability Resource Center
Mission: To serve as a catalyst to improve the lives of people in our community.
Constituents Served: United Way of Greater Augusta serves all residents in the County of Augusta, Staunton City, and Waynesboro City regardless of race, color, religion, sex, national origin, and status as an individual with a disability or protected veteran. 40,565 clients were served in the most recent year currently available. The Financial Stability Resource Center (FSRC) will serve 50 families within the first year of operations, 75 families in year 2, and 150 families in year 3.
Program Overview: The Financial Stability Resource Center (FSRC), an initiative of United Way of Greater Augusta, is focused on the mission of creating community-wide financial security. Based on data collected through town hall dialogues and community assessments, the FSRC will lead a statewide initiative to collect and use data on low-income residents; utilize key collective impact strategies, with a particular emphasis on coalition building with key stakeholders; and direct one-on-one service for clients.
The FSRC acknowledges that in order to maximize impact and achieve sustainable systemic change we must bring all stakeholders to the same table. A strong coalition hosted by United Way of Greater Augusta’s FSRC allows us to dovetail our programs and partner with like-minded service providers to address overall financial stability barriers; develop and improve the systems navigation process for community members; and provide early intervention, financial education, and career readiness opportunities for students and their parents or guardians. In addition to this strategy, we recognize the essential need for direct service in the form of financial coaching for clients. To that end, the Financial Stability Resource Center will serve as a neutral location for clients to reach out for help obtaining income supports or basic service referrals.
Since we know that financial literacy consistently correctly predicts financial behavior, we know that providing an environment where clients can broaden their financial education, receive assistance navigating referral systems, and become empowered to achieve their personal financial goals is vital to achieving community-wide success. At the Financial Stability Resource Center, clients can access the Roadmap to Financial Stability and determine an individualized strategy for building income supports and increasing savings. In addition, the FSRC utilizes Charity Tracker to help streamline referral services and a tailored, short intake interview to ensure that every client is connected with the support systems they need.
As a means of gaining long-term financial independence, all clients will be invited to participate in quarterly financial literacy classes. The FSRC places a high importance on outreach opportunities and the vital role they play in building relationships with clients who may not feel comfortable reaching out to a particular organization. The program will include a variety of outreach opportunities such as; resource fairs, community dialogues, and collaborative, financial education workshops with our stakeholders.
Current Operating Budget: $768,650
Program Budget: $61,880
Funding Already Committed for Program: $51,880