2016 annual report - consumer credit counseling services ... · 2016 annual report 40 gardenville...
TRANSCRIPT
2016
Annual Report
40 Gardenville Parkway, Suite 300
West Seneca, NY 14224
716-712-2060 [phone]
800-926-9685 [toll free]
716-712-2079 [fax]
www.consumercreditbuffalo.org
@cccsbuffalo [Twitter]
2
Our Mission We provide our community with the best strategies to master their credit.
Our Vision We are the most recognized financial counseling Agency in our community
that minimizes the stigma associated with debt.
Our Values
Integrity
We are honest and confidential
while providing consistently
high-quality service.
Professionalism
We provide a unique service within a
comfortable atmosphere that respects
the needs of our community.
Empowerment
We educate the community we
serve and provide the resources
to achieve success.
Innovation
We maintain superior services
through creative teamwork and
modern technology.
3
Dear Colleagues,
I n 2016, as we have done for over 50
years, CCCS of Buffalo helped meet
the needs of thousands of families
across Western New York by providing
them with budget, debt, bankruptcy and
housing advice. We continued to innovate
and expand our service delivery, creating
new tools and reaching more consumers.
We constantly work to provide the highest
level of service. We are making
improvements in our core functions of
counseling and operations, finance and
compliance and education and outreach.
What remains constant is the commitment to
our mission to improve people’s lives. We
work daily on our mission through our core
values: Integrity, Respect, Accountability,
Teamwork and Empowerment.
We enjoy a sound operating platform and
balance sheet that guarantees long-term
stability. Our geographic footprint remains
that of the consumers of Western New York.
We are committed to providing local
education and outreach and we are
committed to providing financial literacy for
WNY.
All of our initiatives are supported by a
strong agency governance policy that ensures
Letter from the President
the highest caliber service and strict
adherence to NFCC and COA standards,
maintenance of internal controls and
independent quality assurance.
CCCS of Buffalo is on a solid foundation and
is armed with resources and the talent to
grow with WNY.
Paul Atkinson
President & CEO
4
Our Staff
Counseling:
Jaime Bergeron, Lisa Frankenberger,
Therese Melchiorre, Carissa DiRado,
Sonya Goins-Singletary, Noelle Carter,
David Atkinson, Robert Dunn, Jim Ingham
(Camera Shy: Mike Florczak)
Client Support:
Mark Twarog, Janet Webb, Scott Laughlin,
Patty Ann Baker, Robert Dunn
Volunteer Services:
Ann Falls, Robert Dunn,
Lynn Hoffman
Management:
Mark Twarog, Vice President of
Information Technology;
Paul Atkinson, President & CEO;
Noelle Carter, Chief Administrative Officer;
Scott Laughlin, Vice President of
Community & Creditor Relations
Client Intake & Reception:
Jaime Bergeron, Ann Falls, Janet Webb,
Lynn Hoffman, Patty Ann Baker
Accounting:
Noelle Carter,
Lyn Balla
Community Outreach:
Robert Dunn,
Scott Laughlin
5
Our Board of Directors
OFFICERS
Paul C. Atkinson—President & CEO
Mark J. Mendel — Chairman
Senior Vice President
M&T Bank Customer Asset Management
John Eagleton — Treasurer
Executive Vice President – Commercial
Lending, Evans Bank
Kevin McNamara — Vice Chairman
Chairman
Millington Lockwood, Inc.
Nancy Palumbo — Secretary
Chief Administrative Officer
People, Inc.
Nancy M. Blaschak
Blaschak Consulting
Phillip C. Hagadorn
Regional Manager (Ret.)
Experian
Kathy Herod
Vice President, CMB Support Manager
HSBC Bank USA
Jason Houseman
Vice President—Corporate Banking
Citizens Bank
Nancy LaTulip
Vice President, Retail Banking Officer (Ret.)
Lake Shore Savings Bank
Dolores McCarley
President
Resource Planning Associates, Inc.
BOARD OF DIRECTORS
6
By Noelle Carter
I n 2016, CCCS continued
to see an increase in
requests for Financial
Counseling services,
which focuses on advising
individuals on the most
appropriate way to repay their unsecured debts, such
as credit cards, medical bills and collection
accounts. We are aware, however, that for as many
people who are calling our local, non-profit agency,
there are many more individuals struggling in
Western New York who do not know who to turn to
for help. Unfortunately, many are taken advantage of
by companies who are not upfront and honest
regarding the services they will be providing and the
fees they will be charging consumers. Often, those
who utilize their services are left in a worse financial
position than where they started off in.
Therefore, in 2016, CCCS wanted to find a
new way to get the word out to the public
about our services, and who best to talk
about the impact of our services other
than a client who directly benefited from
them. We frequently have clients reach
out to us, thanking us for the assistance
we were able to provide with their
financial matters, however few are
willing to speak publicly about it. CCCS’
vision is to minimize the stigma
associated with debt. We believe that individuals
should not feel alone or ashamed as they navigate
through financial woes. Typically, a myriad of
hardships have led individuals in to financial
trouble, many times hardships outside of their
control – medical issues, unemployment, or the loss
of a family member. The important part isn’t on how
you got where you are, rather, the focus should be on
being brave enough to tackle the problem at hand,
and seeking the necessary assistance when needed.
CCCS seeks to empower clients with the knowledge
they need to break free from debt and other financial
issues, without having to feel afraid or ashamed.
In May of 2016, a CCCS client stood up against the
stigma of debt, and publically let people know they
are not alone, and that there is indeed a light at the
end of the tunnel. That client was Christina Landis,
who shared her story with friends, family, and the
public on Facebook. She wrote, “7 years ago I had
racked up close to $18,000 in credit card debt. For
the first 2 years we struggled making the minimum
payments with 1 income and a new baby but I,
thankfully did not apply for more [credit] cards. One
late payment made my payment double, then triple,
and I was at a point where I know all of it was going
to go to collections. After seeing something on the
Today Show about debt management and all the
scams I was scared to figure out who to go to. My
dad recommended Consumer Credit Counseling
Service of Buffalo, Inc. (CCCS of Buffalo).
Embarrassed that I had done this and
ashamed I couldn’t fix it myself, I
went to my appointment and the
[counselor] made me feel so
much better.” Fast forward to the
present, Christina is credit card
debt free, all $18,000 paid off
through CCCS’ Debt Management
Plan (DMP) which allowed for
Christina to repay her debt at more
affordable terms.
In the Fall of 2016, CCCS launched a new marketing
campaign, to include radio, Facebook and Pandora
ads featuring Christina’s story, so that others in
WNY would know that they are not alone and that
there is help available locally in their community. In
2016, CCCS helped over 2,000 people repay over
$693,000 in debt. We thank Christina for being
brave enough to share her story, all in hopes that she
could inspire others to break free of any
embarrassment or shame and seek help with their
finances so that they too will be able to uncover the
path to financial success.
Financial Counseling
Counseling Outcomes
Financial Counseling Sessions: 1,405
Housing Sessions: 580
Answered Calls: 9,580
I consider CCCS "my friends" who I can turn
to for sound advice and solutions. I am
very grateful to have found them. ~Theresa,
Cheektowaga NY
7
By Lisa
Frankenberger
S tudent loan debt continues to be a financial burden for 44 million Americans
- and the problem is growing. The class of 2016 graduated with an average of $37,172 in student loan debt, marking an increase of 6% over 2015’s graduates. Figuring out options for student loan repayment has become the norm for most students as nearly 70% of four year college graduates are leaving school with student debt.
Just as the amount of borrowers and student loan debt are increasing, the amount of loans in delinquency and default continues to rise as well. 2016’s default rates grew by 14% from 2015. The impact of late or missed payments on student borrowers can be devastating and long lasting. Many times graduates’ starting salaries after school are less than the debt burden they carry. Fees and interest can accrue rapidly and the debt starts growing. Even with tools that can help postpone payments, such as forbearances, the interest still accrues and adds to the loan balance, meaning the borrower’s payment could be even higher when their payments resume.
Needless to say, we continue to receive calls every day from borrowers looking to explore their options regarding their student loan debt. In 2016 we conducted 155 Student Loan Counseling Sessions for affected borrowers. Our Student Loan Counseling Program was developed as a direct result of clients continuously asking us for help, not knowing where to turn or who to trust. For nearly 5 years now we’ve been offering Student Loan Counseling as an added service to our clients. In 2015, with Consumer Credit Counseling Service of Buffalo’s help, the National
Foundation for Credit Counseling launched a national Student Loan Counseling Training Program, and a national platform for student borrowers to seek help.
Navigating the options around student loan repayment can be complicated and overwhelming to borrowers who are experiencing financial hardship, or just unsure of what their options are. Private and Federal loans are both very different in almost every facet. There are many things to consider and decide on with repayment. Consolidation, forbearance, deferment, income driven plans, refinancing, graduated plans, forgiveness and discharge are just some of the potential options available to borrowers. Many times, it is simply too confusing and overwhelming to navigate on your own. Consumer
Credit Counseling Service of Buffalo has 4 Nationally Certified Student Loan
Counselors available to help our clients through this process.
Our counselors are trained in helping the borrower figure out all of their options, and give them the
guidance needed to make an informed decision regarding their
loans, and their finances generally. Our counselors frequently will reach out to the
lender with our clients to help facilitate sometimes difficult conversations, and help in applying for options and programs.
The most important thing to remember is that as a student loan borrower, you are not alone. You are in the company of millions of other Americans who are also trying to pay off their loans in the best way possible; and we at Consumer Credit Counseling are here to help you through that process. We also caution against for-profit companies and scams that are targeting student loan borrowers. For local help, reach out to CCCS to talk to a nationally certified counselor at (716) 712-2060.
Student Loan Counseling
Counseling Outcomes Student Loan Counseling Sessions: 155
I am able to leave with a smile and feel like a
weight has been lifted! Thank you! ~40 y/o Female, Buffalo NY
8
By Tracy Diina
D uring the 2016 tax season, through its’
Niagara County
Financial Literacy Coalition, CCCS facilitated the
return of more than $1.6 million to taxpayers in
Niagara County through the Volunteer Income Tax Assistance Program (VITA), a free, IRS-supported
tax preparation service that offers free tax
preparation to low- and moderate-income individuals and families. VITA ensures that families
and individuals receive all tax benefits for which they
are eligible, most importantly the Earned Income Tax Credit (EITC), a critical economic support that
allows hardworking low-income families to keep
more of what they earn.
The VITA Program has direct impact on Niagara
County residents’ lives. Sadly—yet often—many low
income individuals and families use for profit commercial tax preparers that charge upwards of
$250 per return and recommend unnecessary and
expensive tax refund products like Refund Anticipation Loans (RALS) or Refund Anticipation
Checks (RACS) to make a profit at the
expense of citizens' deserved tax refunds. For those individuals who earn
minimum wage, that can represent
nearly 5 days of work. This does not include the cost for the “rapid refund”
which is usually about $200. Low
income filers can easily pay nearly $500. Our goal has always been to keep that
money in the pockets of low income Niagara County
residents.
CCCS, through the VITA Program, ensures that all
eligible clients receive their EITC benefits. This is
significant because 20-25% of those eligible currently do not access it—and the benefits are
numerous. Studies have found that children in
low-income families that receive larger state or
federal EITCs tend to score better on tests of reading
and (particularly) math, compared with children from largely similar families not targeted for large
credit expansions. They also are more likely to finish
high school and go on to college. Researchers studied the receipt and effects of the EITC over several
decades. They found that for every $1,000 a family
received from the credit, test scores in reading, and particularly math, significantly increased among
children in elementary and middle school years. The
EITC increases the likelihood of graduating from high school or completing a GED.
Volunteers completed 267 tax returns between their
Niagara Falls and Lockport satellite offices: 110 in Lockport, 129 in Niagara Falls and 28 for residents
in other parts of Niagara County. These returns
resulted in a total of $423,012 in returns for our filers, with an additional $143,947 of that in EITC
(earned income tax credits). Through our services,
we estimated that we saved $83,838 in filing fees for our filers. With a focus on properly reporting EITC,
the result was more money in the pockets of low
income Niagara County residents and more money spent back in to the local economy.
An additional 900 tax returns were filed
through the Facilitated Self-Assistance program. This is a do-it-yourself program
sponsored by the IRS. Certified volunteers
are available to answer questions, but individuals must prepare the return by
themselves. Through this program, we
saved filers over $282,600 in filing fees, resulting in returns of $1,258,174.
CCCS is recruiting volunteers to file tax returns for
the 2018 filing season. Tax preparation training is free, and commences in December 2017. The VITA
Volunteer program provides a rewarding volunteer
experience, and is a great way to learn a valuable new skill and build your resume. For more
information contact Noelle Carter at (716) 771-3255
Niagara County
Program Outcomes Facilitated Online Tax Returns: 900
Filing Fee Savings for the Community: $282,600
Total Estimated Tax Refunds: $1,258,174
9
Community Outreach
By Robert Dunn
C CCS of Buffalo is proud
to have had another
successful year in
offering financial education through our
community outreach efforts in 2016. We have a
strong commitment in providing financial literacy
programs to the WNY community in order to
educate and empower the individuals we serve.
A variety of presentations are offered by CCCS and
our very own NFCC certified educators. The most
popular financial education courses in 2016 were
budgeting and credit workshops; “Financial
Success”, “Dollars and Sense” and “Credit Counts”.
In 2016, 1,127 individuals participated in workshops
including local schools, colleges, EAP programs,
local non-profits, community centers, and other
organizations. Our program success is measured by
compiling information through pre and post-tests,
surveys, presentation evaluations, demographic
information for a wide variety of curriculums.
In additional to workshops, CCCS makes its
presence felt in the community with resource and
wellness fairs, as well as other speaking engagements
informing the community of our services offered.
2,161 individuals were reached
in 2016 through outreach
fairs.
A total of 3,288
individuals were reached
through our financial
literacy programs and
outreach in 2016. CCCS is
committed to continually
offering our services and
assistance in improving the financial
literacy of individuals in Western New York.
Community Outreach & Education
Program Outcomes Workshops Taught: 92
Participants Taught: 1,127
Overall Consumers Reached: 3,288
Homebuyer Education Counseling
By Noelle Carter
O ver the last several years CCCS has invested additional resources to grow our
Homebuyer Education Program.
In 2016, CCCS provided Pre-Purchase Homebuyer Education to nearly 350 individuals and families. We are able to provide potential homebuyers education through both in-person workshops and online courses, allowing additional flexibility for those seeking to be better equipped to navigate the exciting yet overwhelming process of buying a home.
In 2016, we held workshops one Saturday a month at our West Seneca office, where participants were able to complete all course material and receive their certificate of completion the same day. Additional speakers were brought in to review specific aspects of the home buying process in greater depth regarding topics such as the search for your dream
home, the mortgage pre-approval, application and approval process, and details surrounding the home inspection. We were delighted to be able to provide these CCCS Homebuyer Education Workshops free of charge to the public in 2016.
For individuals with busier schedules, CCCS also offers an online education course. The course is interactive, and can be accessed through the use of a computer, tablet, or even a smart phone. The course allows for participants to log in and out at their convenience and once completed, they are assigned a counselor to work through any additional needs they may have. Upon completion, the participant is
issued a certificate of completion.
CCCS is proud to be able to provide flexible and convenient options for those seeking homebuyer education counseling, and we look forward to serving individuals and families in to 2017 and beyond with these critical services.
Clear, straightforward advice, delivered with
kindness and compassion.
~50 y/o Couple, West Seneca NY
10
Eternal Thanks to our
Grant Funders
C onsumer Credit Counseling Service of Buffalo, Inc.
would like to thank our funders. Without their
support, we would not have achieved
such great success in 2016!
Bank of America Foundation
Citizens Bank
City of Niagara Falls
Evans Bank
First Niagara Bank
KeyBank
Lake Shore Savings Bank
M&T Charitable Foundation
The Margaret L. Wendt
Foundation
United Way of Greater Niagara
Veterans Outreach Center
Funders & Partners—Thank You
Continued Thanks to our Creditor
Repayment Program Funders
Buffalo Niagara SCORE
Buffalo Public Schools
Community Action Organization (CAO)
CASH Coalition
Catholic Health System
Child & Family Services
City of Buffalo – Division for Youth
The Dale Association
Evans Bank
Family & Children’s Service of Niagara
Family Help Center
First Niagara Bank
Food Bank of WNY
GCASA
Goodwill of WNY
Habitat for Humanity
Inspired Health Group
Jericho Road Ministries
Key Bank
Lockport Housing Authority
Matt Urban Hope Center
M&T Bank
NCCC – Niagara County Community College
NFTA
Niagara Falls Housing Authority
Niagara’s WorkSourceOne
NYS EAP
Olmstead Center
Orleans/Niagara BOCES
Renaissance House
Seneca Nation Housing Authority
Small Business Administration
The Service Collaborative of WNY
United Way
Veterans One-stop Center
Veterans Outreach Center
WEDI Buffalo
West Seneca Resource Center
WNY Law Center & CLARO Project
WNY DDSO
2016 Community Outreach Partners
American Express
Bank of America
Barclays Bank
Capital One
Chase Bank
Citibank
Discover Bank
HSBC Bank
KeyBank
M&T Bank
Synchrony Bank
TD Bank & Target
11
Client Satisfaction
Surveys & Demographics
I have been extremely happy with the service that
has been provided. CCCS has put me back on the
road to financial solvency. Thanks, Ralph, Buffalo NY