Now more than ever, there is a need for cost-effective, outcome driven, volunteer programs that improve the economic security of low-income families. The Community Service Society/RSVP has successfully created an innovative model program, the Financial Coaching Corps, which capitalizes on the skills of older adults while meeting urgent community needs. Unlike existing financial education programs which draw on human resources of the financial community, our program deploys community members rather than outsiders.  Rigorously trained RSVP volunteers provide education and support in the area of economic security for low-income families through one-on-one financial coaching sessions. The FCC model includes: a well-structured training program; a volunteer evaluation process; supportive educational guides and materials; ongoing training and technical assistance; and well-developed and monitored partner sites.

The program currently has 25 volunteers serving in 18 community-based agencies where, in 2010, they assisted 839 individuals and families resolve financial problems related to budgeting, credit, debt reduction, banking, and public benefits. One of our partners, Andrea Johnson, Social Worker Supervisor from St. Luke’s Roosevelt Women’s Health Project says of the program, “Our RSVP volunteer has built strong relationships with our clients, helping with everything from filling out Medicaid applications to debt management. Her sensitive approach is an A+ for our clients, who have a lot of stress about their economic circumstances.”