Together with GreenPath Financial Wellness, OnPoint will provide members with confidential, and complimentary one-on-one financial counseling, debt management services and financial education resources. OnPoint members now have access to Financial Wellness Experts who can help members eliminate financial stress, get out of debt, increase savings, and achieve financial goals.
GreenPath Financial Wellness provides:
- Credit report review. It helps members understand their credit reports, dispute inaccurate information, and develop a plan to improve their credit scores.
- Debt counseling and management. Supports members to overcome debt through strategies including structured repayment plans.
- Student loan counseling. Helps members understand student loan obligations and evaluate loan repayment options.
- Housing counseling. GreenPath is certified by the U.S. Department of Housing and Urban Development (HUD) to assist with pre-purchase home buyer preparation, as well as mortgage default and foreclosure prevention.
- Financial education. Shares financial education with members through online resources and tools.
For more than 60 years, GreenPath has provided debt management plans; financial, housing and student loan counseling; and financial coaching. In 2021, $237 million was paid toward debt on GreenPath’s Debt Management Plan.
You may consider financial counseling for various reasons, including a significant life event such as job loss, a high amount of unsecured debt, or if you experience issues making rent or mortgage payments, among other financial challenges. OnPoint and GreenPath will work with each member individually to assess their entire financial picture and identify actions to help pay down consumer, housing, student loan and medical debt. GreenPath will work with members using their predictive budget tool to gauge which expenses are a priority and where the member can cut back. Members will leave their first session with a personalized, documented action plan for making tangible financial progress.
GreenPath success story—Lavell.
By his mid-30s, Lavell had nearly $50k in high-interest credit card debt, and attempting to pay down the debt had proved unmanageable. By working with GreenPath, Lavell could get the debt under control, pay it off, and start his family. Here are the details of Lavell’s situation and experience with GreenPath:
- Lavell was burdened with $49,572 in outstanding credit card debt.
- After maxing out five consumer credit cards, Lavell could not make a dent in paying off debt.
- As zero-interest offers expired, most of Lavell’s monthly income went to debt payoff instead of building savings for the future.
- A coworker suggested working with the national nonprofit GreenPath to get a handle on debt.
- Over the length of his Debt Management Plan, Lavell paid off $49,572 in credit card debt.
- Debt management plans typically lower credit card interest rates from an average of 24% to an average of 8%.1
- Lavell saved about $22,600 in interest charges2 through the GreenPath Debt Management Plan2 vs. paying only the minimum payments by himself.
- Lavell reduced stress and worry and used the experience as a foundation for building financially healthy habits.
- With guidance from GreenPath, Lavell built his first-ever spending plan.
- A realistic and sustainable debt management plan allowed Lavell to build up savings for future goals—such as starting a family.
Hear more from Lavell and his family in the videos below.
Judgement-free counseling with GreenPath.
GreenPath can give personalized answers to your individual needs. Advice is only a phone call away for issues ranging from a proactive savings plan to saving a home from foreclosure.
“This partnership gives OnPoint members more personalized access to caring, judgment-free counseling that strengthens financial wellness at every step of the financial journey,” said Kristen Holt, President and CEO, GreenPath Financial Wellness. “As a national non-profit in service for more than 60 years, GreenPath is ready to help those seeking guidance through our team of HUD Certified Housing Counselors and NFCC Certified Credit Counselors.”
Contact GreenPath today. To use this new service, members can call 866-294-2963 to reach a GreenPath representative dedicated to OnPoint members. Hours are Monday through Thursday, 5 a.m. to 7 p.m. (PT), Friday, 5 a.m. to 4 p.m., and Saturday from 6 a.m. to 3 p.m. You can also visit them at www.greenpath.com/onpointcu.