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Disables Person who can save

Saving is an option for individuals with disabilities

Written by Guest Blogger · 21 August 2019

AUTHOR: By Michael R. Roush, Director, Real Economic Impact Network, National Disability Institute

Oftentimes, individuals with disabilities may not be familiar with savings options that are available to them or they may be afraid to save money due to the fear of jeopardizing public benefits. There are a wide variety of saving strategies that individuals with disabilities can potentially access to achieve their savings goal and build their financial well-being.

38 Reasons You Need At Least a $500 Emergency Fund

Written by Kia Young · 05 August 2019

The age-old saying,” When it rains it pours” is especially true when an unexpected emergency pops up- as if you had nothing better to do than fork out $500 on new tires, or visiting the doctor. Recently the Federal Reserve noted that almost half of Americans do not have $400 available in an emergency fund.

A New Way for Financial Coaches to Help the Unbanked

Bank Bank Accounts
Written by Lindsay Ferguson · 31 July 2019

Consumers want to build a strong financial history. From buying their first car to planning for retirement, consumers face many obstacles with ensuring they stay on the right path to positive financial health. Understanding what is in their credit report is an important first step. However, a traditional credit report only gives part of the consumer’s history.

For most banks, when a consumer applies for a bank account, the bank will not pull a traditional credit report but instead a report like ChexSystems to analyze past “banking” transaction information.

Estimates of the number of unbanked consumers who used to be banked is around 50%. Many of these individuals are no longer banked because their previous bank closed their account due to overdrafts (bounced checks). In these cases, there will be an outstanding amount due to the bank, which appears on the ChexSystems report. Most banks will turn down a potential new customer, if such a negative appears.

Non-profit financial coaches express frustration when this happens, since their client becomes discouraged and is often embarrassed by being turned down. Wouldn’t it be better if the financial coach could access this report before the consumer visits the bank, in order to identify negatives, such as past due amounts. Then they could work out an action plan with their client in order to address the negative and increase their odds of being approved by the bank.

Last September, Credit Builders Alliance (CBA) added ChexSystems' ChexAdvisor Educational Report to our Access service, and so far it has been a great success with many of our non-profit members. It has helped them expand their product offerings to serve a wider variety of client needs, such as access to banking services.

An example of this success is found with Ms. Tee:

After attending a Working Credit workshop, Ms. Tee told her counselor she had a high fee, pre-paid debit card but really wanted to open a checking account. She had tried a while ago, but was denied due to a debt owed to a financial institution, and was afraid to reapply. Her Working Credit counselor pulled her ChexAdvisor report through ChexSystems and discovered that she actually had no red flags on her ChexAdvisor report. Her counselor explained her report to her and recommended some low-cost checking accounts near her home and work.

This is just one example of how ChexAdvisor can help you serve your clients more comprehensively. For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Written by: Credit Builders Alliance

America Saves and AFCPE® Connect to an AFC Pilot

America Saves Week AFCPE AFC America Saves Pledge
Written by America Saves · 26 June 2019

During America Saves Week 2019, America Saves and the Association for Financial Counseling & Planning Education® (AFCPE)® collaborated and launched the Connect to an AFC® pilot. The pilot connected over 50 individuals to Accredited Financial Counselor® (AFC®) professionals across the country.

Take the Pledge

Savers who make a plan are twice as likely to save successfully. 

Take the America Saves Pledge

Tip of the Day

  • Written by Katie Bryan | November 18, 2013

    Save for #presents rather than relying on #credit http://ow.ly/pV4nN

Saver Tips and Stories View all »

Getting Out of Debt

Written by Katie Bryan | October 28, 2013

In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost her home to an unexpected family crisis, Shelton and her family were forced to live in a rundown hotel.

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The Gift of Homeownership

Written by Tammy G. Bruzon | August 5, 2015

Quaneka Willis, a single mother of three children, was receiving rental assistance through the Housing Authority of the City of Milwaukee when she decided to take control of her finances. So, in September of 2013 she attended the Make Your Money Talk program and pledged as a Wisconsin Saver. In less than 12 months, she had maximized her savings and was beginning the process of purchasing her first home.

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Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

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