First Commonwealth Bank Grants $10,000 to Economic Opportunity Work in 2020 | Neighborhood Allies Continues to Provide Financial Opportunities, Education and ResourcesLeave a Comment
We would like to thank First Commonwealth Bank for contributing a $10,000 grant in support of our ongoing Economic Opportunity Work in 2020! The grant will help to fund our unique portfolio of economic opportunity programming, including the Financial Opportunity Centers, Financial Empowerment Center, the Accredited Financial Counseling Cohort, and the Asset Building Network.
First Commonwealth Bank’s generous award will support our full spectrum of Economic Opportunity initiatives. Through the delivery of these services, Neighborhood Allies positions individuals and families in Pittsburgh to increase their opportunities, skills and assets. We do this by developing strategic partnerships, raising philanthropic and government funding, launching successful national programs, creating new initiatives and analyzing data to track outcomes related to financial well-being.
“First Commonwealth is proud to make this investment into Neighborhood Allies. As a community bank, we are grounded in the simple philosophy that healthy communities make healthy banks. By partnering with Neighborhood Allies, we believe all of the neighborhoods of Pittsburgh benefit from the technical expertise and Healthy Neighborhoods Framework. We could not think of a better partner and ally in our Community Development Banking efforts than Neighborhood Allies!”
– Evan Zuverink, Vice President and CRA Officer
We promote the following initiatives that coordinate local resources and provide opportunities to Pittsburghers to achieve financial health:
- The Asset Building Network is a collaborative community for learning and advocacy that strengthens program and policy efforts to increase economic opportunity. We host a quarterly meeting of representatives of service providers, financial institutions, government and regional entities.
- Financial Opportunity Centers (FOC) offer three core services – employment counseling, access to benefits and financial coaching – that equip clients to increase earnings, build credit, reduce expenses and boost assets. Located at Goodwill of SW PA, Mon Valley Initiative and Oakland Planning & Development Corporation.
- The Financial Empowerment Center (FEC), an initiative with the City of Pittsburgh and Advantage Credit Counseling, provides free, one-on-one financial counseling by professionally trained counselors to help manage their finances, reduce debt, increase savings, improve credit and access safe banking. Counseling is integrated into ten social service agencies across the city.
- Fund My Future, a program of Propel Schools, offers incentives to families throughout Allegheny County to open bank accounts and save for their children’s future. Connected by 20 local partners and encouraged by the chance to win $1,000 each month, 2,800 families currently participate.
- Bank On Pittsburgh creates opportunities for unbanked and underbanked people to access basic, free or low-cost accounts with local financial institutions. Partnering with the Urban League and City of Pittsburgh, we promote the adoption of national account standards with banks and integrate banking access into social services.
- We created a Financial Counseling Cohort to meet the growing demand for trained and experienced financial counselors. 15 social service professionals build their skills through the Accredited Financial Counselor™ program and meet monthly for additional peer supports.
Our work would not be possible without the support of funders like First Commonwealth Bank. Thank you for your continued commitment and support of our mission to support the people, organizations and partnerships committed to creating and maintaining healthy neighborhoods!