LA CROSSE, Wis.—Wisconsin Governor Tom Evers has recognized Finding HOME, a free financial education program created by the Marine Credit Union Foundation, with a 2022 Governor’s Financial Literacy Award.
“Financial education gives people the tools they need to achieve their dreams, expand their opportunities, and attain financial security for themselves and their families,” said Gov. Evers. “The dedication of these individuals and organizations to help Wisconsinites become more financially secure and achieve their dreams is commendable and helps ensure not only the future success of individuals and families, but our entire state.”
“Finding HOME is about helping a household find the best path to homeownership for them and filling the gap when necessary,” said Majel Hein, director of Financial Education with the MCU Foundation, who traveled to the Wisconsin state capitol to receive the award. “There are dozens of mortgage products and programs, and it is overwhelming and hard to get unbiased advice. That is where we step in to provide a true how-to roadmap to homeownership and also ACCESS to homeownership for those household falling through the cracks.”
Finding HOME is a financial education and behavior change program designed to help credit-challenged borrowers achieve homeownership. The program was launched in 2018 to help the MCU Foundation further its mission.
“Connecting with a Finding HOME counselor is a free way for individuals and families to find their best path to homeownership,” the credit union said. “Any household can schedule an appointment to receive a housing review where they will be connected to the best path to homeownership for them If they do not have a clear path to homeownership and meet other qualifications, households can choose to enter the core program of Finding HOME, this 12-18-month program consists of one-on-one financial e-counseling, educational courses and resource navigation assistance.”
Finding HOME participants are not required to become Marine Credit Union members or hold Marine Credit Union accounts.
By the Numbers
Marine CU said that since the program’s inception:
* 380 households counseled (524 adults, 622 children)
62.3% of applicants connected to homeownership in their first 90-minute housing review
* 28 households graduated (48 adults, 56 children)
* 89 points per person average credit score increase
* $8,054 average dollars saved per program graduate
* $9,968 average debt reduction per program graduate
“As a result of changed spending and borrowing habits, participants of the program increase their credit scores, reduce their debt, and build robust savings accounts—before being connected with homeownership,” the credit union said. “Graduates of the core program of Finding HOME are guaranteed access to a market-rate mortgage that fits their spending plan.”
Participant: Raven Tillman
Raven Tillman, a Finding HOME graduate, entered the program in October 2020 seeking stability for her family.
“I didn’t think much was left for me. I didn’t have financial or mental guidance,” said Raven.
As a result of her work with Hein, Raven was able to raise her credit score, reduce her debt and create savings. She has also found stable housing, a full-time job and enrolled in Western Technical College.
Reflecting on her Finding HOME journey, Raven said other participants should “be ready to be fully open and fully honest about your money and your life. It will be life changing.”