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MONEY MANAGEMENT PROGRAMS

Consumer and Family Education Project (CFEP)
According to a 2005 American Community Survey, 30% of South L.A. residents do not have a high school diploma; the per capita income is $11,140 compared to $24,750 for the entire County; the area has the largest number of public assistance and CalWorks recipients in all of L.A. County; and South L.A. has a 14% unemployment rate compared to 8% county-wide.  While the South L.A. community is the most underserved in the entire county, developmentally disabled individuals and their families who live in the area there are faced with an even greater dearth of service. Of the many unmet needs our stakeholders face, access to safe and affordable housing is one of dire importance.  Friends Housing is striving not only to provide housing to consumers and their families, but also to offer the resources necessary for our clients to secure and maintain residences. To do that, we offer training, education and supports to empower them to live as independently as possible through the Consumer and Family Education Project.

A primary goal of CFEP is to teach finance management. CFEP participants are encouraged to open savings and/or checking accounts, helping them to avoid the use of predatory check-cashing stores, which are prevalent in South L.A. and which can cause consumers to lose up to 30% of their incomes in charges and fees. It is also CFEP’s goal to increase the number of program participants who open a savings or checking account, by 25% at the completion of the program

The long term objectives are to increase the number of SCLARC consumers and their families who receive financial education and to increase participant knowledge of housing rights, responsibilities and financial management by 30%.  These objectives will be measured by enrollment and seminar attendance records, as well as through the use of pre and post-tests which will track participants’ initial knowledge and monitor any improvement or gain after completing a series of seminars.

       
 
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