Economic StabilityFinancial Wellness Services help families manage their financial lives by learning skills to set financial goals, manage time, prioritize needs and budget properly. Through private and public funds, CCI supports individuals and families in saving money for key long-term assets, such as home ownership and education, with a goal of helping families become financially stable and secure.

 

Coaching

CCI provides compassionate and coordinated financial coaching services through assistance from knowledgeable professional staff and volunteers. Coaching services help individuals and families set goals related to income, budgeting, expense management, debt, credit, access to public benefits, low cost tax services, applying for the Earned Income Tax Credit (EITC), and asset accumulation.  Clients meet regularly with a CCI Financial Coach to achieve a variety of goals related to their financial and asset building goals, enabling them to live securely in the present and plan for the future.

Financial Literacy

CCI provides specialized instruction to enhance the ability of individuals to make appropriate decisions in managing their personal finances, understanding services provided by financial institutions, avoiding predatory lenders and understanding credit.

Individual Development Accounts

Individual Development Accounts (IDAs) are matched savings accounts which assist people with modest means to save towards the purchase of a lifelong asset. Asset building can help individuals who are low-income build safety nets for their families and provide better opportunities for upward mobility and prosperity across socioeconomic classes. IDAs match the deposits of participants into special savings accounts; savers receive a 2:1 match for every dollar saved. Participants can use their savings and match money toward the purchase of a home or to further their or their child(ren)’s education or job training.
In addition to earning match dollars, participants agree to complete a financial education class to learn about budgeting, saving and purchasing an asset. Participants also receive ongoing case management services from CCI with regular follow-up visits throughout the duration of their involvement in the IDA program.

Pathways to Success Program

Catholic Charities of Idaho’s Pathways to Success program helps families manage their financial lives by learning skills to set financial goals, manage expenses, prioritize needs and budget properly.

Through private and public funds, CCI supports individuals and families in saving money for key long-term assets, such as home ownership and education, with a goal of helping families become financially stable and secure. Catholic Charities of Idaho’s Pathways to Success has been recognized by Catholic Charities USA as an Innovative program to reduce poverty.

Catholic Charities of Idaho uses the following three strategies to help families overcome economic challenges and meet their identified financial goals:

  1. Financial Coaching  – Participants work closely with their CCI Financial Coach to identify and reach financial goals. Services include assessing current financial position, tracking expenses, developing a budget, assistance with short-term spending and savings goals, debt reduction planning, opening and utilizing savings and checking accounts, resolving billing disputes, monitoring progress, accessing low cost or free tax preparation services, and serving as an accountability partner.
  2. Financial Education -Through group classes and individual sessions, participants work to do the following: 1)Improve their budgeting and financial management skills; 2)Understand the banking system, understand taxpayer rights and responsibilities, learn how to build strong credit and use credit wisely; 3)Set goals for their financial future; 4)Avoid predatory lenders; and 5)Explore options and risks in insurance, investment and retirement planning.
  3. Individual Development Accounts -Participants can take part in a matched savings account called an Individual Development Account (IDA). Participants meet monthly with their IDA case manager, attend at least 12 hours of financial education and complete asset education. For every $1 saved by a participant, $2 is matched by CCI. A participant may save up to $2,000 and receive up to $4,000 in matching funds to put toward higher education (for themselves or child) or to use as a down payment on a first home.

 

Information & Referral

Economic Stability Services are offered in a variety of languages. Services may vary slightly per office, but all locations provide accurate and timely information to individuals and families seeking help for any type of human service need. Please click below for details on how to contact a Family Strengthening Center near you.
Locations