Two-Year Grant and “Financial Coach” Volunteers Aim to Provided Needed Support in Austin
Public Company Information:
AUSTIN--(BUSINESS WIRE)--With rising grocery bills and energy costs, making ends meet has become even harder for many. In these tough economic times, struggling families are looking for solutions, while others are looking for ways to help. With generous support from Charles Schwab Foundation, local nonprofit Foundation Communities is expanding financial services to help Central Texas working families weather the daunting economic climate.
Charles Schwab Foundation announced today that it is making a two-year grant for a total of $400,000 to support Foundation Communities’ launch of a new one-stop Family Financial Stability Center, which includes a Financial Coaching component for families and individuals in need.
The Center is designed to provide low- to-moderate-income families access to a range of financial services, all in one convenient location. Services include tax preparation, assistance completing the Free Application for Federal Student Aid (FAFSA), small business workshops, help in applying for an individual taxpayer identification number, and financial coaching.
Charles Schwab employee volunteers will join other community volunteers as Financial Coaches to help families and individuals get on the road to financial stability by assessing their cash flow, making changes in daily habits in order to live within their means, finding ways to save, setting goals, and making a plan to reach those goals.
“We are very excited to have this opportunity to contribute to Foundation Communities’ great work in Austin. Schwab’s corporate purpose is to help people become financially fit, and this effort gives us a way to reach out to people in our community who stand to benefit the most,” said Kelli Keough, Schwab’s vice president of Investor Services and senior location leader for Austin.
For 2009, the Center will be located at Foundation Communities’ main location at 3036 South First Street. Renovations begun last month will allow for a larger waiting area for clients, more client meeting space to accommodate the one-on-one financial coaching sessions, and additional tax preparation stations.
“Our volunteer coaches love the idea of being able to work one-on-one with clients. They are drawn to the opportunity because they’re able to see first hand the impact their efforts have on peoples’ lives,” said Erika Leos, financial coaching coordinator at Foundation Communities.
The Financial Coach volunteers will begin working with clients in January 2009. Foundation Communities is seeking a total of 100 volunteers from the community in addition to Schwab Financial Coaches. Volunteer training will be provided throughout the months of December 2008 and January and February 2009. Interested individuals are encouraged to call 512-447-2026 x41 for more information.
MEDIA PHOTO OP — Contact: Katie Hazekamp, 512-247-8613 cell
A Financial Coaching volunteer training session for Schwab employees will take place at the Schwab North Austin offices, with opportunities for interviews.
|WHERE:||12401 Research Blvd., 4th floor of Schwab building, check-in at security desk.|
|WHEN:||Thursday, December 4, from 5pm to 8pm|
MEDIA INTERVIEWS with Schwab representatives and volunteers or Foundation Communities’ staff and clients also available upon request.
About Foundation Communities
Foundation Communities is a nationally-recognized nonprofit organization that creates high-quality affordable housing and empowers families and individuals with low incomes through programs that educate, support, and improve financial standing. Founded in 1989, Foundation Communities creates housing where families succeed. Foundation Communities is a member agency of United Way Capital Area and a charter member of NeighborWorks America, a national network of more than 240 community-based organizations creating healthy communities. To learn more, visit www.foundcom.org.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.4 million client brokerage accounts, 1.3 million corporate retirement plan participants, 427,000 banking accounts, and $1.2 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors.
The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at www.schwab.com.
About Charles Schwab Foundation
Charles Schwab Foundation is a private, nonprofit organization created by The Charles Schwab Corporation. Its mission is to support employee-selected causes and foster financial literacy as the gateway to financial well-being. In addition to its support of Foundation Communities, Charles Schwab Foundation also supports Boys & Girls Clubs of America’s Money Matters: Make It Count program as well as other local programs that promote financial literacy in Austin. More information is available at www.aboutschwab.com/community. (1208-4925)