Alliance Credit Union is extending a helping hand to Phoenix Hometown Hires in the form of financial literacy education.

Alliance, which has an office in Wilmington, offers its members money management and financial education services through BALANCE, a national program for credit unions. Many of its local staffers are certified money coaches through the program.

When the credit union began increasing its community involvement, it looked for opportunities to share its financial literacy expertise with people who need it, said Kandra Romeo, the local branch’s business relationship manager.  

That led them to Phoenix Hometown Hires, a nonprofit organization that helps people with barriers to employment prepare for the workplace.

Since January, Romeo has worked with people enrolled in Phoenix Hometown Hires’ Life Skills Program, a three-phase, nine-month series of classes that addresses everything from personal development to employment-enhancing skills. 

Financial management is part of the curriculum for phases two and three, according to Lauren Williams, life skills manager for the organization.

“Kandra is very relatable, and has very high evaluation scores from participants,” Williams said. “She understands who our population is – homeless people as well as people working full-time with benefits but living paycheck to paycheck. She can talk to them on their level, and she knows change does not happen overnight. Baby steps is the way to go.”

Those steps involve issues such as managing budgets, credit and debt. Romeo has also encouraged group members to start the saving habit, showing them how even small weekly savings deposits mushroom over time.

That advice is in line with what Phoenix Hometown Hires asks its life skills participants to do, Williams said.

“We ask participants to bring in $5-$10 per week,” she explained. “At the end of the nine months, we match it,” she said, explaining that her organization gives the lump sum to each program graduate. The graduate can use it to start a savings account or to address other financial needs.

Alliance’s goal for those in the Phoenix Hometown Hires’ program, as it is for its members who need to improve their financial situation, is to make them “bankable again,” said Rick DeCrescente, regional vice president for Alliance in Wilmington. 

He said that becoming financially literate helps them to organize their credit, improve their credit score and buy a car or even a home.