Asset Funders Network introduces the Equity Amplifier for Economic Security (EA), a monthly spotlight series highlighting organizations or nonprofits focused on building economic security/asset building in communities of color.
Financial Health Pathways Texas began as the Financial Literacy Coalition of Central Texas (FLCCT) in 2004. It was started by Austin community leaders to improve financial literacy in the Central Texas region through education and to be recognized as a trusted, unbiased, and credible source of personal financial information. In 2017, the Board transitioned to become more diverse and include a broader representation of the community. With the hiring of a new Executive Director in 2018, the organization embarked on a new strategic direction to focus on financial education, with increased emphasis on individuals and system changes. Today the FHPT is an impactful organization with a team of training volunteer instructors. To date, we have taught over 15,525 Central Texans how to develop a household budget, control excessive spending and debt, implement a savings plan, purchase a home, and send a child to college.
MEET EXECUTIVE DIRECTOR
Please provide the name of your organization.
Financial Health Pathways.
Where are you headquartered?
What is your organization’s mission or vision?
FHP is a community-centered organization focused on improving the financial health of Texans. We advocate on behalf of the under-served and provide them with education and resources to achieve financial freedom. A Texas community with inclusive financial services where everyone has access to economic opportunity.
Which of the following areas of service BEST describes your organization?
Small (nonprofit) business support and economic development.
Does your organization identify as BIPOC led? What does that look like within your organization? (ie: “We are an organization in which the majority of the Board of Directors are Black and the executive leadership is Latino/Latinx.”)
The majority of our board of directors are Hispanic and our executive leadership is Hispanic as well. However, we have representation from different minority groups. We do not embrace the term BIPOC.
Provide an example of a program or initiative that your organization is spearheading that works to advance economic opportunity and prosperity for BIPOC communities.
Our I Save Texas matching savings program increases savings for low income communities of color and reduce their debt so that credit scores can be improved and create financial stability.
How does your work impact communities and populations that are historically marginalized, underserved and/or under-resourced?
FHP’s programs serve communities with no access to financial services. Our Financial Justice program and other services seek to address barriers that prevent communities from building their wealth.
What are some specific barriers or biases from within philanthropy that you believe are hindering organizations led by persons of color in accessing adequate funding or support?
The assumption that we need to look for answers and guidance from external sources. Usually the answers are in the communities we serve and in the providers on the ground.
Name one thing funders need to be cognizant of when connecting or partnering with nonprofits or organizations focused on building economic security/asset building in communities of color.
We don’t have the same capacity, connections, resources or time to navigate tedious complicated applications. Also, the way to connect is by listening and asking what does the organization need.
About the Equity Amplifier
The EA serves as a space where philanthropy can engage with communities of color and examine how funders are addressing concerns in a manner that is intersectional and inclusive. Each month, AFN members will have the opportunity to access organizations and nonprofits in communities of color that are focused on economic security and asset building, including an informational brochure and a brief interactive virtual video presentation.
As a benefit of AFN membership, funders may nominate local nonprofits focused on building economic security/asset building in communities of color to highlight as part of the EA series. AFN members will also receive the opportunity to participate in a brief interactive virtual video presentation that will be shared with national AFN membership, allowing your organization to showcase innovative models and best practices to help build a more secure future for diverse communities.
How can funders get involved?
Funders who wish to learn more about Financial Health pathways, contact https://financialhp.org.