Latest Financial Empowerment Workshop

Aug 12, 2016

by David Levine, President/CEO

This past Wednesday, we held another in our series of financial empowerment workshops.  Held jointly with Capital One and the Lorton Community Action Center (LCAC), the workshop was an opportunity for Capital One bankers to help our clients reach even greater financial and budgeting success.

With 35 GSH and LCAC clients in attendance, and five Capital One bankers leading the workshop, we certainly moved through a great amount of territory related to credit and budgeting.  The attendees learned that managing credit well is the goal — and all hope is not lost even after a personal bankruptcy or other credit impairments.

Toward that end, we learned that banks — Capital One and others —  now offer secured credit cards (typically, secured by a small cash deposit).  Cardholders can demonstrate responsible usage of their their credit cards, thereby reestablishing their creditworthiness and credit scores.

In the upcoming workshops, the Capital One bankers will be setting up one-on-one financial mentorships with our residents.  That one-on-one touch will mean everything to many of our residents who struggle with basic budgeting and household expenses.

Many thanks to everyone at LCAC for hosting the event at its education center in Lorton.  Also, I want to thank our case managers Jessica and Ryan for bringing out our residents for a worthwhile workshop.

It is one to be repeated.