Challenge At a Glance:
- Systemic barriers: asset poverty, racial wealth divides, and restrictive policies
- Limited resources and capacity to scale technology and coaching
- Ongoing need to ensure high-quality services, cultural competency, and client inclusion
Results At a Glance:
- AFCPE Setting the Standard Award Recipient
- Money Management Essentials integrated into Compass onboarding
- 30% of Compass coaches are AFC certified, 15% in progress.
The Challenge
Compass Working Capital (Compass), a national nonprofit serving families in federally subsidized housing, faced challenges expanding its reach due to barriers such as asset poverty, racial wealth gaps, restrictive policies, and limited capacity to scale technology and coaching. Resource constraints and the need to maintain high standards of professionalism, cultural competency, and client inclusion also impacted growth.
The Solution
Compass partnered with AFCPE to expand access to financial education and counseling. The partnership focused on three areas: standardizing financial coaching through certification, improving onboarding and staff development, and incorporating diversity, equity, and inclusion into organizational practices.
The Results
Recognition:
- Compass received the 2024 AFCPE Setting the Standard Award at Symposium
Staff and Financial Coaching Development:
- New coaches complete AFCPE’s Money Management Essentials (MME) program during onboarding
- 30% of coaches earned the AFC®; 15% are in progress.
- DEI are incorporated into onboarding and staff development.
“Being a financial coach means walking alongside clients as they work towards their goals and break cycles of asset poverty. My Accredited Financial Counselor certification equips me with the expertise and strategies to help them achieve lasting financial stability and independence.”
Corey Bright, AFC® and Compass Financial Coach
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