Thankful for Great Coaches!
It’s the season to be Thankful, Prosperity Works is grateful for extraordinary Asset Coaches throughout New Mexico! As a partnership of 29 organizations, the New Mexico Assets Consortium has opened over 1,156 Individual Development Accounts (IDA). Coaches, like Sally Moore with CNM Connect, often go above and beyond their normal job description.
I recently coached a student requesting a RUST scholarship. I often work with students to craft a budget. During the conversation, this participant shared her shame of being indebted to a title loan company. It was a compelling circumstance because her vehicle had a lift for her daughter’s disability – she was paying over $600 per month for a $4500 loan and it seemed to only be going up. We contacted a credit union which gave her a secured loan and she’s now free of the title loan. It is a great memory!!!
Each Coach must receive an Asset Coach Certification; act as lead IDA contact for their organization; attend an annual Consortium Conference; participate in related gatherings, phone conferences, and webinars; he/she assists with local fundraising, and utilizes the Assets For Independence (AFI) software for reporting. Coaches meet individually with IDA participants to create a budget & support savings; pull credit reports & refer to credit counseling; find financial education courses, and identify community resources to support the IDA Savings Partner in both creating and completing the asset purchase plan.
Cool Coaches, like Sally Moore go above and beyond the call of duty.
Maybe my story will inspire credit unions and banks!! I think the credit union was stunned by the amount this person paid each month toward this loan and wanted very much to help – we are warned about predatory loans but not educated to handle any other type of loan!