NorthCountry Federal Credit Union has announced their support of the Financial Futures Program at Champlain Valley Office of Economic Opportunity (CVOEO). The $2,500 donation will be used to provide much needed interpretation services to support New Americans with low and moderate incomes on their paths to financial well-being.
Financial Futures provides financial capability and asset building services in Chittenden, Franklin, Addison, and Grand Isle counties through microbusiness counseling, matched savings accounts, and financial coaching and classes.
“Language barriers can have a detrimental effect on an organization’s ability to provide the best possible service to its clients” said Bob Morgan, NorthCountry Chief Executive Officer. “Through its translation services, CVOEO is opening doors for people, and providing them with a community resource they can trust.”
In the last year, Financial Futures worked with over 953 individuals seeking to increase their financial wellness—10% of whom were New Americans. Participants working on savings goals reported an average of a $1,387 increase in annual savings, 50% of participants reported bringing past due bills more current, 81% created financial goals, and among those accessing business counseling, 12 new businesses were started, 38 were expanded or enhanced, and 11.5 full time jobs were created.
“Conversation is an essential form of communication that lays the foundation for trust and understanding” said Jan Demers, CVOEO Executive Director. “We are so grateful to NorthCountry Federal Credit Union for their help in strengthening our community through interpretation services and helping our conversation with New Americans to continue.”
About NorthCountry Federal Credit Union:
NorthCountry is the community credit union for the Champlain Valley, Central Vermont, and the Northeast Kingdom. It has been nationally recognized for the value it provides for its accountholders, and is regularly recognized in the local community for its contributions to local non-profit organizations. NorthCountry serves nearly 40,000 members from its ten locations throughout northern Vermont. For more information go to https://www.northcountry.org
CVOEO addresses fundamental issues of economic, social, and racial justice and works with people to achieve economic independence.
We bridge gaps and build futures. That is, we provide individuals and families with the basic needs of food, fuel and housing support in times of crisis, and we help them acquire the necessary education, financial skills and assets to build a stable future in which they thrive.
The Champlain Valley Office of Economic Opportunity (CVOEO) is a nonprofit corporation formed in 1965 to carry out the Economic Opportunity Act of 1964 in Vermont’s Northwest Counties of Addison, Chittenden, Franklin and Grand Isle. It is one of five Community Action Agencies in Vermont.
CVOEO provides vital services to over eleven thousand households (over 25,000 individuals) every year. Our three Coordinated Statewide Housing Services (the Fair Housing Project, the Mobile Home Program, and Vermont Tenants) serve residents statewide. The agency employs a dedicated staff of approximately 145 employees and engages more than 1,100 volunteers annually, working out of approximately 18 locations in addition to Head Start classrooms throughout the Champlain Valley region.