Project GREEN has equipped eight residents in Greater Grand Rapids to become Grassroots Financial Advocates. Through a series of deep-listening sessions, GREEN has captured the strategies used by the working poor to survive and thrive economically. This has now been formed into a place-based financial empowerment curriculum to teach others.
Rent Reporting for Credit Building
Shanelle said, “I want to help people build credit without going into debt.”
Out of that statement from one of its Grassroots Financial Advocates, Project GREEN has been on the journey to advocate for Kent County consumers to inspire and inform local housing agencies to launch a Rent Reporting for Credit Building program for their tenants.
Rent Reporting for Credit Building (RRCB)service supports mission driven affordable housing providers to implement rent reporting for credit building initiatives in order to help residents build their credit histories and offer them a positive incentive for on-time rent payment. Tenants who participate in RRCB in other cities across the country have seen their credit scores increase by 10-20 points instantly during their first reporting month! If you would like to learn more, click here to contact us.
Bankrate.com reports that nearly half of Americans could not handle a $500 emergency using the cash they have on hand. This makes those consumers vulnerable to predatory lending and chronic financial fragility. Project GREEN wants to change that.
Project GREEN’s vision is “turning everyday people into money heroes.” Through our 500 Strong initiative, our goal is to equip 500 individuals to save $500 by December 2021. We will walk with participants to provide financial literacy, savings tips, and matching dollars! For every $100 that you save, Project GREEN will match with $25. After you have saved $400 + $100 from Project GREEN, you end up with $500 saved. If you would like to learn more, click here to contact us.
Project GREEN’s vision is to turn everyday people into money heroes. We seek to move consumers away from asset-reducing products and practices and move them towards asset-building mechanisms. Our four strategic focus areas include Awareness, Alternatives, Asset-Building, and Advocacy. Creating asset-building small dollar loans as an alternative to payday loans is central to Project GREEN’s mission.
Through Pay It Forward, PG will equip Kent County churches to provide “repayable gifts” by restructuring their benevolence program. We will partner with five churches in 2020 to provide these innovative “loans” to their constituents. Churches will help individuals to meet their emergency needs – as they’ve done historically. But, participants can choose to repay the money at 0% interest – no strings attached. Well, there is one string… Once individuals have paid back their full amount, they can continue to make additional payments that will go into a savings account. The church will then match the savings amount up to $250! So, you will end up with $500 in an account so that you can meet your emergency head-on on your own terms next time.
Households who are served by Pay It-Forward will reduce the amount of fees they pay for emergency financial services, increase their savings, improve their financial literacy, and avoid payday lending. To learn more, contact us here.