Several non-profit organizations across the state will share in more than $1 million in grant funding. It is money the organizations will use to provide financial coaching and education to Louisianans about building emergency savings and improving their financial health.
The Louisiana Financial Coaching Cohort is an initiative of the Louisiana chapter of the Asset Funders Network (AFN), a leading national grant maker membership organization focused on advancing equitable wealth building and economic mobility.
Non-profit organizations receiving funding include Clover (formerly Kingsley House); Dancing Grounds, Disability Rights Louisiana, The First 72+, Hope Ministries of Baton Rouge, the Center of Social Research and Southern University and A&M College, Project Build a Future, the United Way of Southeast Louisiana and the United Way of North East Louisiana.
The LA AFN funders for this initiative include Capital Area United Way, Conrad N. Hilton Foundation, Entergy Louisiana, LLC, Foundation for Louisiana, JPMorgan Chase & Co., Red River Bank, Huey and Angelina Wilson Foundation and the United Way of Southeast Louisiana.
LA AFN kicked off its Financial Coaching Cohort with funders and service providers on Oct. 25 with a live viewing of the National AFN Report and Webinar: The Impact of COVID-19 on Financial Capability and Asset Building Services at the Ashe Cultural Arts Center in New Orleans.
A report, released on Oct. 25, by the Asset Funders Network and the Center for Financial Security at the University of Wisconsin-Madison, explores how financial coaching and other services evolved in response to the COVID-19 pandemic.
Louisiana is one of six states and regions featured in the report. Data and recommendations from the regional brief provide a launch point for the efforts, which include a focus on emergency savings and virtual and hybrid platforms to improve access and retention.
“Financial health is the foundation of strong and resilient households, communities and economies,” said Diana Holmes, Chase Community Manager for New Orleans. “Chase is proud to be part of the statewide Asset Funders Network. Working together, our collaborative can create lasting change by investing in Louisiana families so they can build wealth for generations to come.”