Capitalizing Credit Deserts Movement Building: Helping to Move People from Credit Insecure to Credit Resilient

This success story was made possible with generous funding from the Wells Fargo Foundation

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BACKGROUND

Arouet Foundation, located in Phoenix, AZ, is part of the Capitalizing Credit Deserts Cohort of nonprofits that serve credit challenged individuals in credit insecure communities. With generous funding from the Wells Fargo Foundation, CBA provided this community of practice with scholarships for CBA Access and CBA’s signature Credit as an Asset Training. 

Arouet Foundation empowers women and families impacted by the justice system to build strong communities. They help participants prepare for re-entry, gain meaningful employment, receive financial resources and create a solid foundation for their lives. 

Photo Team and Board Arouet

PARTICIPANT EXPERIENCE

Arouet Foundation and CBA Fund: Helping to Move People from Credit Insecure to Credit Resilient

As a financial coach serving our community, I am thrilled to share how this grant has made a meaningful difference in the lives of the individuals and families I work with. With this grant's support, I've expanded my financial coaching services to reach more community members, especially those facing economic challenges. 

The grant has allowed me to offer participants personalized financial education workshops and one-on-one coaching sessions at no cost. This has empowered individuals to improve their financial literacy, set achievable goals, and develop practical budgeting and savings strategies. We are appreciative of Wells Fargo and its continued investment in our organization and community. 

-- Shaun Land, Financial Coach

OUTCOME

Through this grant Arouet Foundation has served 619 participants. Of these, 421 established a credit score for the first time and an additional 163 participants increased their credit scores. These participants increased their credit scores an average of 329 points. In addition, participants acquired bank accounts, increased savings, and reduced debt. 

INTERESTED IN LEARNING MORE?

For more information about CBA Fund and how it empowers life-changing organizations like Arouet Foundation, visit: https://creditbuildersalliance.org/cba-services/cba-fund/ 

 For more information about the critical mission of Arouet Foundation, visit: https://arouetempowers.org/ 

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