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CredAbility: Nonprofit Credit Counseling & Education
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CredAbility: Nonprofit Credit Counseling & Education


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Suzanne Boas of CredAbility's presentation at the Center for High Impact Philanthropy's Donor Education Seminar.

Suzanne Boas of CredAbility's presentation at the Center for High Impact Philanthropy's Donor Education Seminar.

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  • 1. Phone: 404-653-8809 Email: CredAbility PresentationCredAbility Presentation Center for High Impact Philanthropy Addressing the Needs of Vulnerable Families November 8, 2010 Suzanne Boas, CredAbility president
  • 2. 2 CCCS of Greater Atlanta is now CredAbility On May 26, 2010, Consumer Credit Counseling Service of Greater Atlanta changed its name to CredAbility  Helps to eliminate confusion with hundreds of other agencies across the country with similar-sounding names  Makes it easier for people to identify and find the resources they are seeking  Provides a brand that is more consistent with our position as a leading national provider of credit counseling and education
  • 3. 3 Our Agency  Founded in 1964, CredAbility is a family of Consumer Credit Counseling Service (CCCS) agencies that includes: • CCCS of Greater Atlanta • CCCS of Central Florida and the Florida Gulf Coast • CCCS of Palm Beach County and the Treasure Coast • CCCS of East Tennessee • CCCS of Jackson (Mississippi) • CCCS of Upstate South Carolina
  • 4. 4 Our Agency CredAbility is…  A full-service, nonprofit, financial counseling agency headquartered in Atlanta, serving clients in all 50 states, plus Guam, Puerto Rico and the US Virgin Islands  Accessible, providing counseling in-person at 25 locations across the southeastern US and 24/7 over the telephone and Internet • In 2009, over 1.7 million consumers reached out to our agency for help with their financial needs  Accredited by the Council on Accreditation (COA) of Children and Family Services  Certified as a National Intermediary by the US Department of Housing and Urban Development (HUD) to provide both comprehensive and reverse mortgage housing counseling services
  • 5. 5 Our Mission We…  Help financially-distressed people move from crisis to control by providing compassionate service with innovative and practical solutions  See ourselves as a financial emergency room, creating hope and inspiring lasting change  Are committed to comprehensive, holistic counseling -- our counseling programs are designed to help clients assess their financial situation, set clear goals and establish a realistic, written action plan  Are innovative and responsive, helping clients according to their needs -- where, when and how they prefer to access our services  Conduct research to measure our performance and outcomes
  • 6. 6 What We Do Housing Counseling  We help consumers achieve and maintain stable housing, serving more than 122,000 Americans through pre-purchase, foreclosure prevention, reverse mortgage, rent delinquency, post-occupancy and loan declination counseling in 2009 Budget & Credit Counseling  We offer free individualized advice to consumers, helping more than 69,000 Americans develop and balance budgets, manage money, use credit wisely, handle debt and build savings plans in 2009 Debt Management Plans  We develop affordable, structured, reduced payment programs for consumers, helping nearly 29,000 financially distressed consumers repay more than $118 million to unsecured creditors in 2009
  • 7. 7 What We Do Education and Public Outreach  We teach a broad range of money management and financial classes to consumers  In 2009, we taught over 78,000 consumers through our money management and housing education seminars Bankruptcy Counseling & Education  We are among a select group of nonprofit agencies approved by the Executive Office for United States Trustees (EOUST) to provide budget and credit counseling for bankruptcy filers nationwide  In 2009, we provided: • Pre-filing bankruptcy counseling to more than 260,000 individuals • Pre-discharge education to more than 120,000 individuals
  • 8. 8 A National Service Provider We serve clients in all 50 states, plus three territories 2009 CredAbility Client Distribution by ZIP Code Map excludes AK, HI and Territories
  • 9. 9 Counseling Growth Since 2005, demand for our counseling services has grown 472%, to 388,000 sessions in 2009 Total Counseling Sessions - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 2005 2006 2007 2008 2009
  • 10. 10 Housing Counseling Driven by foreclosure prevention counseling, housing sessions have grown 2,034% since 2005. Housing Counseling Sessions - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 2005 2006 2007 2008 2009
  • 11. 11 Committed to Client Success: Research & Outcomes  Custom research studies: • Ensure the integrity of our work • Provide valuable feedback for shaping public policy affecting non-profit credit counseling.  Topics include: • The effectiveness of telephone and Internet counseling delivery • Outcomes of foreclosure clients one year following counseling CredAbility routinely captures, analyzes and reports data on client profiles, service levels and outcome measures
  • 12. 12 Foreclosure Prevention Research  Clients completing foreclosure prevention counseling sessions improve confidence in their ability to meet their financial goals by more than 60%  A recent study found that one year after counseling:  80%80% are still in their home  78%78% have no foreclosure activity