EXCHANGECommunity

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Supporting Our TroopsClarifi offers free financial counseling and education to servicemembers

Since July, Clarifi has held over 35 workshops and reached over 350 servicemembers.

Clarifi’s offerings for servicemembers are part of SharpenYour Financial Focus (SYFF), a grant-funded program ofthe National Foundation for Credit Counseling (NFCC)with a broad range of supporters, including Wells Fargo.

Our brave men and women in uniform deserve anincredible amount of gratitude. Clarifi shows its supportby providing financial counseling and educationworkshops to servicemembers, veterans and theirfamilies at no cost.

The Forum of ExecutiveWomen Selects 

Clarifi as First Forum Ally 

Clarifi Honored as ‘Champion’of Financial Literacy

Clarifi is pleased to be selected at by The Forum ofExecutive Women, as the first nonprofit to participate inthe newly established Forum Alliance. The Forum is the

Continued on page 2

See details on back pageContinued on page 2

In November, Clarifi was honored as a ‘Champion ofAdult Literacy’ by the Delaware County LiteracyCouncil (DCLC) for its dedication and commitment to

Clarifi’s Community Awards Luncheon

Keynote Speaker:  Carla Harris Vice Chairman, Global Wealth Management, ManagingDirector and Senior Client Advisor at Morgan Stanley

Honoree:  The Honorable Judge Annette M. RizzoCourt of Common Pleas, First Judicial District

SAVE THE DATE!May 27

Clarifi is excited to announce that it has receivednational reaccreditation through the Council onAccreditation (COA). Reaccreditation is based onmeeting certain COA standards; their standards ensurethat services are well-coordinated, culturallycompetent, evidence-based, outcomes-oriented, andprovided by a skilled and supported workforce.

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The Consumer Financial Protection Bureau (CFPB) partnered withClarifi in October to provide an in-depth training on newmortgage servicing rules that went into effect in early 2014.

Cathy Mansfield, with the CFPB’s Consumer Education andEngagement Division, conducted the training. CFPB ConsumerAdvisory Board members Patty Hasson and Judge Annette Rizzokicked off the training that welcomed over 50 counselors fromlocal agencies.

Clarifi counselors Aaron Williams, Gloria Santiago & ElizabethGreenwood with the CFPB educator Cathy Mansfield.

Clarifi Hosts CFPB Trainingon New Mortgage Rules

Anita Brown, Amber Abdourahamane,Markita Morris-Louis and Patty Hassonaccept Clarifi’s award from the DCLC.

The Forum Of Executive Women SelectsClarifi As First Forum Ally

Continued from page 1

region's premier women's organization with more than425 members, actively working to promote its missionto leverage the power of executive women in theGreater Philadelphia region to expand the impact andinfluence of women leaders.

The Forum Alliance is a year-long pilotinitiative in which The Forum willstrategically align with Clarifi to helppromote and further strengthen theorganization. A joint event betweenboth organizations is being planned for May.

Clarifi Honored as ‘Champion’ of Financial Literacy Continued from page 1

We’re Honored!

Clarifi Receives COA Reaccreditation

working with adults in the area of financial literacy.DCLC, located in Chester, PA, works with adults whowish to read, write, speak and understand English,helping them to increase their communicationskills and participate more fully in society.

Luck has eluded Atlantic City and the families that call ithome in recent months. After four casinos closed so farthis year, thousands of the city’s jobs have been cut,pushing the unemployment rate up to 11 percent.

One repercussion of the Atlantic City job crisis is NewJersey’s foreclosure rate. In August, foreclosure startsjumped 115% compared to the same month last year.

Fortunately, help and options are being made available.In March, Clarifi opened its first Atlantic County office inGalloway Township, located in the Atlantic CountyUnited Way building.

“A number of Atlantic County families have seen theirincomes greatly reduced or eliminated this year, and ourcounselors have been actively helping them adjust tothis challenge and move forward,” says Stephanie Bittner,Community Outreach and Education Manager for NewJersey. “We’re also ready to help homeowners exploreoptions to save their homes if they’re in danger offoreclosure.”

When struggling homeowners meet with a counselor, atno cost, all options will be considered, including stateand local programs and mortgage modifications.

Clarifi Offers a Life Ring to Atlantic County Families

FinanciallyHers ‘Boot Camps’ Use Coaching Model In May, FinanciallyHers teamed upwith Clarifi Coach, Clarifi’s financialcoaching initiative, to offer anenhanced program to its members.The FinanciallyHers Boot Camp was born!

Integrating Clarifi’s education,counseling and coaching services,this 6-month intensive programprovides a structured andsupportive environment in whichparticipants can define and achievetheir financial goals. 35 womenhave successfully graduated fromFinanciallyHers’ boot camps sinceMay of 2014!

Financial coaching gained inpopularity over the last few years. A2007 policyLab study reported that“financial coaching has strongpotential to facilitate asset buildingamong low-income families.”

And while counselors offer specificfinancial advice, coaches serve moreas accountability partners and helpkeep clients motivated as theyimplement their financial action plan.

“Coaching was an incrediblyrewarding experience for me,” saysJaclyn Senior Brown, a boot campcoach. “I really enjoyed working withmy client and appreciated hermotivation and focus. Meeting everymonth in person definitelystrengthened our coaching relation-ship, held us both accountable to our

commitment and allowed us todevelop a real partnership.”

Clarifi would like to thank Citi, TheBancorp and The Nina PennechiettiFoundation for their support ofFinanciallyHers. The program andClarifi Coach recently launched a‘New Year, New Financial You’ bootcamp. To learn more, visitclarifi.org/bootcamp. 

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FinanciallyHers honored boot campgraduates and their coaches at itsrecognition event in October.

In December, Clarifi launched a new ad campaign topromote its foreclosure prevention services on AtlanticCounty buses and highway billboards.

with the education and resources they need to securetheir finances.”

In October, Clarifi partnered with SeniorLAW Center,Journey’s Way and The Bancorp to hold a specialeducation event on senior scams and exploitation.Participants could choose from workshop topics thatincluded avoiding identity theft, dodging financialpredators and checking for suspicious activity on creditreports. Over 50 seniors were in attendance.

“Our seniors have worked hard for what they have and wehave a joint responsibility to protect them,” adds Spiegle.

Older Americans have lost an estimated $2.9 billion tofinancial scams over the last ten years. That was one ofthe staggering statistics cited at a June forum, ‘Fleeced:Speaking Out Against Senior Financial Abuse.’

The event was hosted by the Mayor’s Office ofCommunity Empowerment in partnership with TheNational Community Reinvestment Coalition (NCRC),United Way of Greater Philadelphia and Southern NewJersey, Philadelphia Corporation for the Aging (PCA), TD Bank, the Urban Affairs Coalition and Clarifi.

As part of the forum the NCRC’s documentary ‘Fleeced,’which shows the heart-wrenching devastation caused bysenior financial abuse, was screened. A public panel wasalso held with community and banking leaders to discusscommon scams and strategies to better protect seniors.

Over the past several months, Clarifi and its FinancialSmarts for Seniors program has been working tirelesslyin the community to advocate for the rights of seniorcitizens, and educating them on avoiding financialabuse and scams.

“Unfortunately, we continue to see seniors victimized bya variety of scams. It’s just wrong,” says Jim Spiegle,Program Manager for Clarifi’s Financial Smarts forSeniors program. “We’re committed to providing seniors

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Senior Financial Abuse:  ‘Just Wrong’  

According to a report from The Consumer Financial Protection Bureau (CFPB), harassment from debtcollectors is the top complaint they receive from older Americans. Common issues include:

Representatives from SeniorLAW Center, Journey’s Way, The Bancorp and Clarifi at their event to protect seniors.

Clarifi lends a hand to help seniors protect their money

Clarifi encourages seniors to submit complaints to the CFPB at consumerfinance.gov or by calling 855-411-2372.

CFPB:  Debt Collection Harassment is Top Senior Complaint

• Collectors hounding seniors about medical debt. Seniors report frequent attempts to collect on medical bills that are covered by insurance or ones that they’re disputing with their provider or insurer.

• Attempts to collect on debts of deceased family members. Some complaints include complaints to collect long after probate is concluded.

• Threats to garnish seniors’ federal benefits. Debt collectors sometimes threaten to garnish social security or veterans benefits, even though these funds are not subject to be taken by collection agencies.

comprehensive cost analysis of the service. A redesignedprogram was recommended by American Express tostreamline and partially automate the process.

Clarifi has made the recommended operational changesto the process and will be adding technologyenhancements to the program in 2015. Feedback fromclients under the new model has proved that thestreamlined process is a success.

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In 2009, Clarifi began offering student loan counselingto help struggling borrowers find manageable ways torepay their loans. While working with these clients,many of them expressed that they wish they had morefinancial knowledge before signing on the dotted line.

This feedback, and skyrocketing national student loandebt, gave Clarifi an idea. There was a need for a servicethat got in front of the student debt crisis. With thisservice, students and families would make strategicdecisions around paying for college and look at howmuch debt would be realistic.

Today, that proactive idea has become Clarifi College.The service meets students and families where they arein the college process, whether they’re planning forcollege, in school and want to review their financial plan,or are starting to pay their student debt back.

With Clarifi College, student and families will be able tomake more informed financial decisions around payingfor college and be better positioned for financial stabilityafter graduation.

Clarifi College:  Seeing the Big Picture

Various appointment types are offered to meet students and families where they are in the college planning process.

• Provide estimated total costs and project financial aid for selected schools.

• Identify options for paying the unmet need and review their long-term ramifications.

• Create a 4-year funding plan to pay for college that reduces future debt.

How To Pay

• Take a holistic look at a student’s current and future finances.

• Discuss the impact of current borrowing patterns on long-term financial stability.

• Review other options if current path is notsustainable.

Financial Aid Check Up

• Analyze award letters.

• Create a 4-year funding plan for the school a student is likely to choose.

Final Decision

• Review obligations for student loans and make a plan to repay them.

• Review options for repayment and address defaults if necessary.

Paying It Back

In 2014, Clarifi College was honored to receive anAmerican Express Serve2Gether Consulting seed fundinggrant. The Serve2Gether Consulting Challenge matchesselected nonprofits with American Express employees onshort-term consulting project to help address a specificorganizational challenge or opportunity.

American Express worked with the Clarifi College teamto look at the existing pricing model and provide a

Clarifi College Receives American Express’ Serve2Gether Grant

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The Medical and Financial Services IntersectionClarifi and PHMC Provide a Holistic Approach

In the study, 250 adults who had sought financialcounseling to avoid losing their homes self-reportedtheir socioeconomic situation, self-assessed healthstatus, diagnosed health status, and specific informationabout health and finance, such as cost-based non-compliance with prescription medications. Theforeclosure sample reported higher rates of depression,higher likelihood to lack health insurance, higher levelsof cost-related healthcare non-adherence and higherlevels of food insecurity. Nearly 9% reported that theirmedical condition, or that of a family member’s, was theprimary reason for the mortgage default and threatened foreclosure.

With the linkages between financial distress and healthproblems becoming increasingly established, it isnecessary to determine the most effective ways toaddress and alleviate both conditions.

Community-based health care organizations may be anideal site for financial health interventions. Theseagencies have built up trust among people in low-income communities and often provide a range ofhealth, behavioral health, legal, case management andother services. The MFP seeks to integrate financialhealth into such environments so that clients can accessmultiple services in one place.

Financial management can bean overwhelming challengefor many families, particularlythose that are also managinghealth issues. Clarifi has foundthat many clients strugglefinancially because of a majorunexpected illness, accident,hospitalization, loss ofinsurance or other healthchallenge.

In 2015, Clarifi will pilot amedical-financial partnershipmodel (MFP) that willintegrate Clarifi’s financialcounseling and educationservices with communityhealth centers managed byPublic Health ManagementCorporation (PHMC).

Based on successful modelsthat integrate lawyers intohealth clinics, the MFP aims toprovide a holistic approach toserving clients, making

financial services seamlessly available to health carepatients through co-location and provider referrals. Thepilot will also provide financial services to existing healthcare patients.

The pilot will test the model’s effectiveness in promoting better health among low-to-moderateincome patients by addressing the externalcircumstances that contribute to poor health, includingstress caused by financial insecurity and inadequatehealth insurance coverage.

National and Local Research Driven

The connections between financial distress and healthcomplications are well-established in research andconsistent with the experience of Clarifi’s counselors.

A 2009 study involving Clarifi clients, ‘Health Status ofPeople Undergoing Foreclosure in the PhiladelphiaRegion’, published in the American Journal of PublicHealth, also suggests a relationship between financialdifficulty and health concerns. Continued on next page

During a patient visit to Rising Sun, aprimary care provider will screen the patientfor their financial needs.

If the patient is interested in receivingfinancial counseling and/or group education,the patient will be referred to the on-sitefinancial counselor and have the opportunityto either meet that day or at a later, moreconvenient date.

Clarifi’s certified financial counselor will workwith patients to provide financial literacy,including strategies to better manageincome, decrease debt, and increase accessto saving and asset-building opportunities.

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Integrating Services

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Three components make up Clarifi’sservices for military families. Financialcounseling is available, allowing service-members to develop a spending plan,review their credit report and score, andset financial goals. ‘MyMoneyCheckUp,’ an online self-assessment tool, assessesvarious aspects of a servicemember’sfinancial life and offers concrete tips tohelp them improve their finances.Financial workshops are also offered byrequest on a variety of topics, includingmoney management, spending plans,credit and debt, and avoidingidentity theft.

Servicemembers, veterans and theirfamilies can schedule a financialcounseling appointment by calling 855-300-4014.  To request a workshop,contact Caroline Ezzo at 267-765-2791or cezzo@clarifi.org.

Edward Mack knows what it takes to fight. He hada successful career as a boxer and bravely servedour country in the U.S. Army. Unfortunately,Edward has also had to fight his own personalbattles, including struggling with homelessness.

Earlier last year, Edward came in to one of Clarifi’sFinancial Empowerment Centers at theGermantown Life Enrichment Center. Aftertaking steps to obtain stable housing, one of hisgoals was to purchase a home so that he wouldhave something to leave for his children. With thehelp of his counselor, Gary McLaughlin, Edward starting payingdown his credit card debt, improving his credit score and takingsteps to live within his means. In September, Edward purchased his first home.

“[Financial counseling] is an enriching, enlightening experience thatwill work,” says Edward. “This is freedom … financial freedom.”

In partnership with the City ofPhiladelphia, Clarifi’s FinancialEmpowerment Centers are helping theirclients achieve some impressive outcomes.Highlights from their third quarter report,released in October, include:

Financial Empowerment Centers Help LocalResidents Reduce Debt by Millions 

*Totals include measurable outcomescollected between March 2013 andSeptember 2014.

3.4 million$in debt paid down

500,000saved

$

Helping a Veteran Find His Way Home

Medical and Financial Services Intersection  Continued from page 6

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Further, with the advent of the Affordable Care Act (ACA), many lowincome clients are navigating the private health insurancemarketplace for the first time. Clarifi hopes to help individualsunderstand and plan for regular medical expenses, such as premiums,co-pays and deductibles, so that clients can establish and maintaininsurance coverage.

Initial Pilot at Rising Sun Health Clinic

The initial MFP pilot will take place at Rising Sun, one of PHMC’s nurse-managed health centers in North Philadelphia. The target populationis low-to-moderate income individuals who face great challenges dueto chronic and acute medical conditions, low-income status, poorhousing conditions, and lack of access to quality financial services.

A Clarifi financial counselor will be onsite at Rising Sun provide one-one-one counseling to approximately 150 individuals annually.Additionally, group workshops will educate up to 200 communitymembers per year.

Learnings from the initial pilot will be used to expand the model tomultiple sites within the Southeastern Pennsylvania region.

Supporting Our TroopsContinued from page 1

Keynote Speaker:  Carla Harris

Carla Harris is a Vice Chairman, Global Wealth Management,Managing Director and Senior Client Advisor at Morgan Stanley.Ms. Harris has extensive industry experiences in the technology,media, retail, telecommunications, transportation, industrial, and healthcare sectors. In August 2013, Carla was appointed by President Barack Obama to chair the National Women’s Business Council.

Honoree:  The Honorable Judge Annette M. Rizzo

Judge Annette Rizzo has served on the Philadelphia County Courtof Common Pleas since 1999. Judge Rizzo was instrumental in thedevelopment and ongoing leadership for the ResidentialMortgage Foreclosure Diversion Program, founded in 2008. The program has saved homes for thousands of homeowners and has become a sustainable model for other cities throughoutthe country.

1608 Walnut St., 10th Fl.Philadelphia, PA 19103

Consumer Credit Counseling Service of Delaware Valley, dba Clarifi

MEMBEREastern Pennsylvania

and New Jersey

HUDAp p r o v e dA g e n c y

MAIN OFFICE: 1608 Walnut St., 10th Fl. Phila., PA 19103

TELEPHONE: 800.989.2227 215.563.5665

WEBSITE: clarifi.org

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SAVE THE DATE!  May 27Clarifi’s Community Awards Luncheon

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