Self-Help was founded on the mission of ownership and economic opportunity for all and the idea that financial education is an essential part of making our mission possible.

While we have provided access to financial education resources and support for a long time — including through workshops, third-party partnerships, and guidance from employees who always have our members’ best interest in mind — five years ago, we were finally able to create our own structured financial coaching program to support our members more effectively.

Our Coaches

Now, Self-Help financial coaches are available in every region where our branches are located, and we are continuously working to add more. Over the last five years, the demand for financial coaching services has increased with many of our coaches remaining booked up, showing the need for these types of services in our communities.

To help our members improve their relationship to their finances, we offer two different types of coaching:

• FICO® Credit Score Coaching
• Financial Coaching

Through our financial coaching program, we strive to help members create a plan that works for them with manageable, achievable goals that will put them on the path to financial freedom.

Financial Coaching

Our financial coaches are here to offer support with more challenging, ambitious, or long-term goals. They offer a trusting environment, which many of our members have struggled to find before coming to Self-Help, and they provide personalized support to ensure that our members have the best chance of success.

Some of the common goals that many of our coaching clients are working toward include:

• Starting a savings habit
• Building a stronger credit profile
• Paying down unwanted debt
• Qualifying for a home or auto loan

Many other financial goals may be addressed during sessions, depending on the needs of the members.

Over the past five years, we have seen so many amazing success stories come from our members who choose to work with our financial coaches. Building that financial competency is an important part of ensuring our members have access to economic opportunity.

FICO® Credit Score Reviews

Many underserved communities struggle with their credit scores due to historical biases, a lack of trust, and limited access to financial education. Because of this, improving credit is a very common goal for our members who come to us for support. The FICO reviews are an easy way to quickly identify ways that your score can be improved through achievable goals, making these reviews an integral part of our coaching program.

FICO review coaches will go over:

• Your FICO credit score and credit report
• The top two factors impacting your score
• Education about what goes into your FICO score and managing your credit
• A one-page action plan with steps for you to build your credit profile and increase your score

We also provide a 90-day check-in to help members stay accountable to their goals and review their progress.

Meet Tiffany

One member who took advantage of our financial coaching program to achieve her goals is Tiffany.

In 2022, Tiffany attended one of Self-Help's pre-homebuyer informational sessions but realized she would need extra support to achieve her goals of homeownership. She decided she wanted to start financial coaching sessions at Self-Help and reached out to our senior financial coach, Donnetta, to get started.

Tiffany had done what she could to avoid debt and was debt-free — she paid her bills on time from her earnings, had a stable job, and had a good rental history. However, in an effort to avoid debt, she ended up with no credit score, making it very difficult to qualify for a mortgage loan.

Donnetta helped Tiffany come up with a plan to save, increase her income, and build up her credit. Tiffany worked hard and not only found a new job that increased her income but also decided to take on a part-time job for even more savings. To build up her credit, she opened a Credit Builder Loan with Self-Help, and once it was paid off, she opened a secured credit card.

By fall of 2024, her hard work paid off. Tiffany was able to qualify for our Equity Boost Mortgage Loan to become a homeowner. She even continued the valuable savings habits she had learned by taking advantage of our SAVE Account to build an emergency fund for household repairs.

Moving Forward

At Self-Help, we are committed to finding ways to help our members achieve ownership and economic opportunity. Our financial coaching resources have become an essential part of how we can support our members in reaching their goals.

As we consider how the future might be for our financial coaching services, we have every intention of continuing our growth and making our coaches increasingly accessible to each of our members. When we consider members like Tiffany, this program has proven itself to be a valuable part of how we at Self-Help can best live up to our mission.

Cheers to five years of financial coaching — may we continue to meet the needs of our members for many more years to come.

Learn more about our financial coaching options at self-helpfcu.org/financial-coaching.