2018 Financial Coaching Success Story

Financial coaching empowers people to take control of their finances rather than being controlled by them. NCALL’s innovative $tand by ME program, through the Delaware Financial Empowerment Partnership, provides financial coaching opportunities. The coaching enables people to establish their goal and work towards it using resources provided by their coach. This program is free to all Delaware residents regardless of age or income.

This service is now available at a variety of locations in Kent and Sussex Counties including Dover Downs, Del Tech Terry Campus, Poly Tech High School and Delaware State Housing Authority’s public housing sites.

Vilson heard about NCALL through the Delaware State Housing Authority (DSHA). He was a Moving to Work (MTW) participant in Selbyville, DE.

The MTW program allows a family to place a portion of their rent into an interest bearing savings account. Upon successful completion of the program, residents can utilize their savings account with 60% of the monies used towards housing related costs and 40% allowed to be used for discretionary expenses. One of the benefits of participating in the program is their MTW Building Thru Education. DSHA provides a computer lab at each public housing site, one-time $500 scholarship for participants to use toward school related or job training costs and a financial literacy course called Mind Over Money, which is delivered by an NCALL $tand by Me Coach, teaching credit, savings, budgeting and sensible spending.

Vilson started working with NCALL in 2016 with the plan of improving his credit score and reducing debt. “I learned so much from NCALL! The counseling really helped me with my understanding of credit. I learned about my credit score and how to use credit wisely. NCALL taught me how to improve my score and get a great credit card that was appropriate for me,” shared Vilson. He was also able to save $7,000 through the MTW program and another almost $2,000 on his own.

As a Haitian speaker, his financial coach also served as a translator once he moved onto NCALL’s Homeownership Education services at the end of 2017. This helped him more effectively communicate with his counselor. According to Vilson, that helped a lot and he and his family got a better understanding of the responsibilities of homeownership. With NCALL’s help he applied for a USDA Rural Development 502 loan. His application was approved, and he began looking for a home for his family.

In August he and his wife, along with their four children moved into a newly constructed home in Dagsboro.

“I always thought I could own a home, but not at this point in my life. I thought it would take a lot longer!” Vilson was able to make this happen due to his hard work and saving. He also credits NCALL. “NCALL is absolutely wonderful! I learned so much and loved working with you. You guys have great coaches and counselors!”