Struggling Metro Detroiters Could Receive $2500 in Time for the Holidays with Gesher Human Services’ Popular “HarMoney” Financial Repair Program.
Huntington Bank grant of $50,000 is funding six-week virtual financial education classes; information session on Nov. 4.
HarMoney, an interactive virtual program providing financial education which is offered by Gesher Human Services and made possible by a $50,000 grant from Huntington Bank, will offer an information session on Nov. 4. Classes will begin n Nov. 11 and run for six weeks from noon to 1 p.m.
On completion of the program,
participants will be eligible for a payment of up to $2,500 which can be used towards paying off debt, housing assistance or even towards purchasing a home. The Mortgage Bankers Association recently released data showing an uptick in the number of families applying for a mortgage because of interest rates trending downwards, and Gesher Human Services wants to enable more struggling families to realize their dreams of home ownership.
HarMoney 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 focuses on improving financial health through budgeting, credit and money management, and savings advice. To register for the program, which has limited spaces, go to https://www.geshermi.org/harmoney/.
Since the HarMoney program began in 2021,
more than 50 families have had their financial lives transformed. “The support from Huntington Bank has assisted us to become a beacon of hope for many families who were in financial distress and couldn’t see themselves as homeowners,” said Financial Education Manager Laltsha Cunningham. “After their participation in HarMoney, our participants are not only empowered but they also have the confidence and courage to take charge of their financial future.”
Cunningham said that the program was particularly welcome now because interest rates were declining offering more opportunities for families to purchase their own homes.
Yannick Thompson took part in HarMoney in February 2024.
The 36-year-old sports store manager from Detroit felt he really needed advice on how best to manage his finances, something he had never been taught before. “I needed more knowledge and wanted to hear about homebuying because I’m really hoping to be able to purchase a house,” said Thompson. “It was a really good experience. Now I feel more confident about my finances and think the program will help me with my future.”
Registration for the program is preferred by Nov. 1, 2024. Participants must meet all program requirements and claim their grant within six months of the final session to be eligible for the $2,500 payment.
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.