Financial Coaching in CT- 12/7/16 Survey- N=13 CT Asset Building Collaborative Financial Coaching in CT- 12/7/16 Survey- N=13

Where Financial coaching is offered

Where programs are reaching* * No site responded with countywide as an option

Financial Coaching Program Size* * No programs were operating with more than 10 new clients/month

Categories of Clients Served Responses Percent of Cases N Percent   Low and Moderate Income 12 20.3% 92.3% Single Parent Families 9 15.3% 69.2% Youth or Young Adults 5 8.5% 38.5% Persons with disabilities Unemployed 4 6.8% 30.8% Re-entry IDA participants 3 5.1% 23.1% Income above a stated minimum amount Income below a stated maximum amount Public Housing Residents Shelter Residents 2 3.4% 15.4% Veterans Small Business Owners Senior Citizens 1 1.7% 7.7% Domestic Violence Victims Total 59 100.0% 453.8%

Number of different Populations served by each agency

Coaching Programs Service Delivery Model Years Operating # Sites Percent As part of a comprehensive financial capability program (incl. financial workshops, VITA etc.) 5 38.5% As part of a comprehensive economic development set of programs (workforce development, entrepreneurship, home ownership 3 23.1% Integrated with other social service programs (eg. part of eviction prevention, utility arrearage, benefits screening, As a stand alone Financial Coaching program 1 7.7% As part of a study on financial health Total 13 100.0% Years Operating # Sites Percent Less than 1 year 3 23.1% 1-3 years 4 30.8% 3-5 years More than 5 years Total 13  

Agency Coaches: source and size Coaching Sources Responses Percent of Cases N Percent Full time paid staff 11 50.0% 84.6% Interns/Vistas 1 4.5% 7.7% Part time paid staff 5 22.7% 38.5% Volunteers Total 22 100.0% 169.2% Coaching Pool # sites Percent One 1 7.7% Two-Three 6 46.2% Three - Five 3 23.1% Six-Ten More than Ten coaches 2 15.4% Total 13 100.0%

Coach Training and client Contact Responses Percent of Cases N Percent CFPB Your Money Your Goals 7 35.0% 53.8% NeighborWorks America 3 15.0% 23.1% Central New Mexico 2 10.0% 15.4% AFCPE 1 5.0% 7.7% The Financial Clinic University of Wisconson In house training/train the trainer No formal training Total 20 100.0% 153.8% Coaching Contacts Responses Percent of Cases N Percent Email 1 4.8% 7.7% Group 4 19.0% 30.8% In Person 13 61.9% 100.0% Phone 3 14.3% 23.1% Total 21 161.5%

Client outcomes tracked Responses Percent of Cases N Percent Achievement of financial goals 11 11.2% 91.7% Budgeting and expense tracking Change in the amount of savings Credit improvement 10 10.2% 83.3% Debt reduction 9 9.2% 75.0% Change in client attitude, confidence or perceived financial well being 8 8.2% 66.7% Change in savings habits (increase in the number of deposits) Pre and post test of financial knowledge 7 7.1% 58.3% Better use of financial products On time bill payment 5 5.1% 41.7% Change in income Improved job or job related income 4 4.1% 33.3% Change in net worth 2 2.0% 16.7% Total 98 100.0% 816.7% # of Outcomes # site outcomes Sites Percent 1 7.7 3 6 2 15.4 7 8 9 10 11 12 Total 13 100.0

Identified Barriers Program Barriers Responses Percent of Cases N Percent Lack of client follow through once in the program 10 34.5% 76.9% Lack of client interest 5 17.2% 38.5% Unreliable or insufficient funding Competing demands on coaches time to devote to financial coaching 3 10.3% 23.1% Difficulty in tracking client outcomes or program impact Inability to integrate into other programs and services 2 6.9% 15.4% Client's low income levels 1 3.4% 7.7% Total 29  100%  223% 

Questions ????? Andrew Geisert Sheryl Horowitz LifeBridge 203-368-5562 ageisert@LifeBridgeCT.org Sheryl Horowitz CT Association for Human Services 860-951-2212 x 246 shorowitz@cahs.org