July 13, 2016
United Way of Central Indiana (UWCI) was recently awarded a $20,000 grant from Vectren Energy Delivery to address financial stability and income for individuals in Morgan County. This grant will be utilized to offset expenses to hire a financial stability coach, who will primarily serve the 33% of Morgan County residents who have household incomes below the basic cost of living. This population, referred to as ALICE (Asset Limited, Income Constrained, Employed), represents families and individuals who are employed but have limited resources and do not qualify for social services.
“We are delighted to award this grant to United Way of Central Indiana,” said Mike Roeder, president of Vectren North. “The implementation of this program will lead to better employment opportunities and long-term stability for many of our neighbors. We strongly believe that making this investment in our community will be far-reaching, as the dollars used will address a gap in services that are currently unavailable to residents in need.”
UWCI has partnered with the Desert Rose Foundation, a transitional shelter for victims of domestic violence in Martinsville, Indiana, to employ the grant-funded financial stability coach. The person hired for this role will work with participants to build their credit score, reduce debt and save for future expenses. The financial stability coach will also offer financial literacy classes about budgeting, debt reduction, credit building and choosing appropriate financial products.
“We are grateful to Vectren for making this community resource possible for our neighbors who need it the most,” said Diana Roy, United Way of Central Indiana Area South Director. “The financial stability coach will be able to offer a unique opportunity for people who want to increase their ability to gain meaningful employment, improve financial literacy and break the cycle of poverty.”
The addition of a financial stability coach in Morgan County is one of the key initiatives to address UWCI’s community impact framework. By 2020, UWCI hopes to reduce the number of financially unstable families in Central Indiana from 31.8% to 25% by implementing similar programs.
United Way of Central Indiana helps people learn more, earn more and lead safe and healthy lives. United Way gets things done by mobilizing people and community partners in six Central Indiana counties to identify, advance and advocate the best solutions. LIVE UNITED is a call to action for everyone to be part of the change. Visit uwci.org to learn more.