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Families & Money Grant from Wells Fargo

Release date: 0626 2019

Families & Money partners celebrate successful collaboration (l-r): Louis Negron, Chief Executive Officer of United Way of Transylvania County; Pamela Tanner, Wells Fargo Brevard Branch Manager; Celeste Collins, Executive Director of OnTrack Financial Credit Counseling; Stacey Gash, Head Start Area Manager at Western Carolina Community Action (WCCA) and UWTC Board Member; and Terry Decker, Board Chair of United Way of Transylvania County. Front and center: DIME-a-Saurus, the titular “head” of Families & Money’s “Common Cents for Kids” elementary school programs.

Wells Fargo approved a grant of $6500 to United Way of Transylvania County (UWTC) in support of the Families & Money Collaborative Program. The grant was awarded in recognition of UWTC’s commitment to working together to build stronger communities.

“Wells Fargo is proud to support the United Way of Transylvania County and their efforts to provide a financial education program for families,” said Karen Lambert, Region Bank President for Wells Fargo in Western North Carolina. “Investing in our local communities is one of the most important things we can do as a company. Our goal is to help build strong and vibrant communities, improve the quality of life and make a positive difference.”

About the Families & Money program

Funded by UWTC, Families & Money helps to break the cycle of poor credit and high-cost borrowing that keeps people stuck in a paycheck-to-paycheck life. The program’s financial literacy services help Transylvania County children, teens and adults understand how to prevent financial crises ---and dig out of costly choices.

Last year, UWTC’s funding of Families & Money improved the financial literacy of 383 households, and this grant is expected to help Families & Money reach up to 700 people, like Sharon, Betty, and Robert.* (*names changed to protect privacy)

Sharon lost household income and gained debt when her 18-year marriage ended in divorce and she got custody of the children. Families & Money got Sharon started with a plan and counseling to become debt-free, build her credit, and even save for emergencies.

Betty and her husband Robert are retired and living on a fixed income. Betty has serious health issues that increased their expenses, so Robert went to work as a 78-year old dishwasher. Betty attended a Families & Money budgeting class at Transylvania County Library and learned to manage cash their flow, which reduced stress on both of them.

Families & Money Partners

OnTrack Financial Education and Counseling serves as the fiscal agent for Families & Money. OnTrack also provides the content, services and staffing for the program delivered in concert with a wide range of collaborative partners.

For adults, Families & Money offers financial education, free credit reports, and individual counseling services through nonprofit partners including WCCA’s Head Start Program, SAFE, The Haven, The Mediation Center, and Transylvania County Library, as well as financial institutions. The goal is to improve socio-economic mobility, especially for households with a net worth of zero or lower, and those who are challenged by unaffordable housing (housing>30% of income).

For youth, Families & Money provides age-appropriate classes to help elementary, middle and high school students understand the difference between wants and needs. Using programs such as DIME-A-Saurus for the younger students, Families & Money teams with Transylvania County Schools and Brevard Academy to teach youth about making smart financial decisions. Understanding money is an important life-skill, especially for the 57% of Transylvania County youth whose families qualify for free or reduced lunch.

About United Way of Transylvania County

United Way of Transylvania County (UWTC) brings people together. UWTC leverages partnerships and donor investments to help each individual person and the community as a whole to grow and thrive.

UWTC brings grant funds into Transylvania County and combines those awards with local donations and sponsorships. UWTC invests in the future of the entire county by funding local programs and initiatives designed to empower people to improve their lives.

To volunteer, donate or learn more about United Way of Transylvania County, call 828-883-8822, send US Mail to PO Box 53, Brevard, NC, 28712, or visit unitedwaytransylvania.org or facebook.com/UnitedwayTC.

LIVE UNITED as one Transylvania!

About Wells Fargo

Wells Fargo supports nonprofits working to strengthen communities in the Triad and Western Regions of North Carolina.  Wells Fargo shares success as a company and invests in many organizations through charitable contributions and the volunteerism and leadership of our team members. 

In 2018, Wells Fargo donated more than $3.2 million to nonprofits and schools in the Triad West Region and team members volunteered more than 25,000 hours. Wells Fargo encourages nonprofit organizations and education programs to review its grant guidelines for the geography and program areas served. To learn more, visit www.WellsFargo.com/donations.

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