Grant Helps with Financial Capability Programming in Hampton Roads
CHP is pleased to announce that it has received a $67,200 grant from the Hampton Roads Community Foundation to improve the financial capability of adult residents at nine affordable housing communities within the Hampton Roads Community Foundation’s footprint, totaling over 800 households.
According to CHP Vice President of Resident Services Angie Dobbins, the need for what became known as the CHANGE program evolved while working with vulnerable CHP residents to prevent eviction. “Staff from CHP’s Resident Services department recognized a need for coaching and education to not focus solely on eviction prevention, but on financial capability as a whole,” said Dobbins.
The CHANGE program objectives are to:
• Decrease quantity of late payment penalty fees incurred by client
• Initiate creation and utilization of monthly budget skills
• Increase use of banking institutions for money management and safe keeping
• Develop an emergency fund
The CHANGE program consists of eight one-on-one coaching sessions including an introductory session, six weekly working sessions, and a closing session – a total of approximately 12 hours. The program is designed to monetarily incentivize clients for successful participation, and each participant can earn up to $250 in cash.
“The CHANGE program is an interactive educational program that helps people gain a better understanding of their finances and make sound judgments regarding banking, budgeting, saving, and general money management. The program also holds participants accountable for their behavior and decisions by helping them set goals and tracking their progress. In other words, it helps develop financial skills as well as knowledge,” explained Dobbins.
The rental communities that will benefit from the Hampton Roads Community Foundation’s grant are: Friendship Village Apartments, Cross Creek Apartments, Seahaven Apartments, Ansell Gardens Apartments, Lynnhaven Landing Apartments, Belleville Apartments, Bettie S. Davis Apartments, Canterbury Apartments, and Westbridge Apartments.
About the Hampton Roads Community Foundation
The Hampton Roads Community Foundation is southeastern Virginia’s largest grant and scholarship provider. Since its founding in 1950, the regional community foundation and its donors have provided more than $230 million in grants and scholarships to improve life in southeastern Virginia.