Financial Repair Program Offering Potential $2500 to Struggling Metro Detroiters Starts Feb. 19
Successful Financial Repair Program “HarMoney” Offered by Gesher Human Services Offers Potential $2,500 to Struggling Metro Detroiters, Starts Feb. 19.
Six-week virtual financial education classes made possible by $50,000 grant from Huntington Bank; $2500 payments available for clearing debt or home down payment.
HarMoney, a six-week interactive virtual program providing financial education offered by Gesher Human Services and made possible by a $50,000 grant from Huntington Bank, will begin on Feb. 19. Since 2021 when the program began, 33 families have had their financial lives transformed, frequently seeing significant improvements in their credit scores and even having the ability to afford a down payment for purchasing a home.
Last year there were 19 participants in the program,
which is geared towards low to moderate income families (as defined by US Department of Housing and Urban Development) who have a credit score of 620 or below. The program, held every Monday at noon to allow people to join during their lunch period, focuses on improving financial health through budgeting, credit and money management, and savings advice.
Upon completion of the program, participants are eligible for up to a $2,500 payment which can be used towards further paying off debt or even towards purchasing a home. Participants must meet all program requirements and claim their grant within six months of the final session. To join the program, go to geshermi.org/harmoney.
“Interest rates remain elevated, food prices are high, and credit card debt remains one of the biggest issues we see in the financial education department,” said Gesher’s Financial Education Manager Laltsha Cunningham. “In prior years, families would use credit cards for ‘want’ purchases such as entertainment expenses or clothing, but now we see how many families get into a spiral of debt because of ‘need’ purchases. They need to use their credit cards for day-to-day expenses, even for household bills like electricity and gas.”
Cunningham explained that the program will help people understand their budget,
provide advice on how to reach out to creditors, figure out payment options, look for ways to pay off debt and find credit cards with lower interest rates if necessary. She said that the Huntington Bank grant was vital for the program to take place. “We cannot thank the bank enough for this wonderful opportunity they are giving to struggling families in our city to improve their finances,” said Cunningham.
About Gesher Human Services
Gesher Human Services is a non-profit organization providing a bridge to hope and opportunity for people at work, at home and in the community. It is dedicated to helping people across metro Detroit lead more stable and fulfilling lives through workforce development, career mobility, behavioral health, inclusion programming and residential services that serve all metro Detroiters while meeting the needs of the Jewish community.
The organization works with job seekers, people with disabilities, older adults, and the community at large to provide skills, support, and equitable opportunities for people to succeed. Uniting two of metro Detroit’s most influential Jewish human services agencies, JVS Human Services and Kadima, Gesher brings over 110 years of combined experience facilitating equitable employment opportunities and better mental health outcomes for residents.
With a network of more than 400 employees and volunteers across 25 locations in southeast Michigan, Gesher delivers a continuum of services and support that directly impacts the lives of over 26,000 individuals and families annually. More information at www.geshermi.org.
