Integration and Partnership Strategies Nicole Smith, Director of Strategic Partnerships 2013 NYS CDFI Coalition Conference Albany, NY October 1, 2013

A Nonprofit Financial Services Provider 2 We Are: A financial advisory service A laboratory for innovation A strategic partner Mission: Empower low-income individuals to become productive participants in the U.S. financial system and achieve their financial goals.

3 Our Service Model Team of Financial Advisors  Highly trained staff deliver one-on-one and group workshop advisory services  Financial Advisors guide clients to develop a Financial Action Plan to work towards clear financial goals Socially Responsible Financial Products  The coupling of financial advisory services with quality financial products provides clients with the education and tools to achieve their financial goals and increases the likelihood of effecting behavioral change Partnerships  Our fundamental belief is that financial empowerment is most successful when integrated into the poverty-fighting initiatives of trusted community organizations  Our services are embedded in host nonprofits, credit unions, government agencies, and businesses

4 Who are our Partners? Nonprofits Government Agencies Financial Institutions Businesses / Employers

5 Credit Union Extension Program (CUEP) Integrating financial counseling into the operations of community development credit unions  Currently at NTFCU, Brooklyn Coop FCU, and LESPFCU  Each CDCU has access to a financial advisor o Delivers one-on-one financial counseling to credit union members o Facilitates NTFP’s signature 10-hour Getting Ahead financial education course to credit union members, as well as community members in the credit union’s field of membership o Trains CDCU staff to create a “culture of financial capability” in the CDCU o Works with Lending and Member Services Departments to receive referrals  Benefits: o Client: empowered with financial action plan and productive financial products to achieve financial goals o CDCUs: reach full potential as vehicles for economic development; more financially healthy members who are better able to use credit union services; improved credit profile of members/borrowers; ideas for innovative financial products; attract new members to the credit union

6 CUEP Client Data

 There is a need for this program! o There is a growing number of working poor Americans across the country o Nearly 45% of all Americans have almost no savings and subsist paycheck to paycheck with little or no financial cushion o 23% of low-income households have bank accounts but still rely heavily on fringe financial services such as check-cashing outlets, money orders, and payday loans  Our Financial Advisors focus on effecting positive behavioral changes in clients  NTFP is skilled in integrating our services in host organizations  Consistent tracking of outcomes allows NTFP to adapt the program and improve service delivery  The program brings together mission + data to achieve financial sustainability 7 Transferability to other financial institutions

8 Partnership Inquiries Nicole Smith Director of Strategic Partnerships Call: ext. 218

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