GreenPath Financial Wellness, a national nonprofit that provides financial counseling and debt management services, was awarded a $750,000 grant from Wells Fargo Foundation to deliver timely counseling to meet the needs of renters and homeowners affected by the COVID-19 pandemic.
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National nonprofit GreenPath Financial Wellness was awarded a $750,000 grant from the Wells Fargo Foundation to expand financial and housing counseling to renters and homeowners impacted by the COVID-19 pandemic.
The funds expand availability of counseling that addresses a household’s entire financial situation, including the importance of paying for essentials, understanding debt repayment options, and balancing housing costs with credit card debt, student loans and unanticipated hardships stemming from the COVID-19 pandemic.
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GreenPath has a long-standing track record of providing trusted housing counseling. GreenPath’s 888-995-HOPE hotline has assisted nine million distressed borrowers since the 2008 housing crisis. Since mid-March, there has been a 50% increase in hotline calls from homeowners and renters faced with sudden job loss, reduced income and other financial challenges. Funds from Wells Fargo will be put to immediate use serving those seeking assistance.
“During this unprecedented time, too many people are struggling financially and facing housing instability,” said Eileen Fitzgerald, head of housing affordability philanthropy with the Wells Fargo Foundation. “Wells Fargo has a deep commitment to advance housing affordability solutions. We are proud to support the work of GreenPath Financial Wellness as they serve a vital role in helping renters and homeowners facing financial difficulties.”
The Wells Fargo Foundation grant for GreenPath Financial Wellness is part of the Wells Fargo Foundation’s $175 million commitment to assist people and communities in response to COVID-19. More than 300 grants have already been made since March to help nonprofits provide urgent housing services for vulnerable populations.
“Millions of people are facing financial concerns due to COVID-19,” said Kristen Holt, president and CEO, GreenPath Financial Wellness. “We’re here to guide them and help them understand their options. The Wells Fargo grant strengthens our ability to meet increased demand when these services are needed the most.”
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