FOR IMMEDIATE RELEASE Lighthouse Community Credit Union
Steve Bernhoft, President & CFO
Save First Financial Wellness
Molly O’Donnell, Director
New Partnership Expands Access to Financial Wellness Services Across Clark County
VANCOUVER, WASHINGTON—April 13, 2020—Lighthouse Community Credit Union, a Vancouver-based financial institution, and Lighthouse Resource Center announced today that they have forged a unique partnership with Save First Financial Wellness to empower Southwest Washingtonians in pursuit of greater financial freedom, according to Steve Bernhoft, Lighthouse President and CFO.
Clark County is home to a sizable low-income population, with 27% of residents falling below average medium income (AMI), a common indicator of poverty. As the economic impact surrounding the Novel Coronavirus pandemic continue to unfold, these numbers are expected to skyrocket as people lose jobs and take on more debt to survive.
“At Lighthouse, we seek to offer both hope and opportunity to people with low to moderate incomes. It just made sense to align with the team at Save First who can help further our mission of financial empowerment and serving our local community,” explains David Bristol, Lighthouse Board Chair. “This partnership has been in the works for several months, but now with COVID-19, we believe it is even more urgent that we make these financial wellness services available for our neighbors in need.”
Save First has already introduced online financial tools, and once social distancing measures are lifted, they will add a team at the Lighthouse Resource Center, the nonprofit financial education arm of Lighthouse Community Credit Union. They will provide onsite one-on-one financial coaching, classes, and workshops, and are exploring pop-up opportunities at other Lighthouse branch locations.
“We could not be more excited for the opportunity to partner with Lighthouse and deepen our impact in SW Washington,” said Molly O’Donnell, Director of Save First, a social enterprise of Catholic Charities of Oregon. “With more than a decade of experience in financial literacy and a robust toolkit to help people get on sound financial ground, Save First is ready to help struggling Americans save money and keep their debt under control. This is particularly necessary in times of crisis as we are today. Together, we’re hoping to help people weather this current storm and change the course of their financial futures.”
About Lighthouse Community Credit Union:
Founded in 1953, Lighthouse Community Credit Union is a nonprofit financial institution owned by its members. They are Low Income Designated (LID) and a certified Community Development Financial Institution (CDFI) providing affordable access to savings, loans, and payment services at three locations across Clark County, Washington and online. lhccu.org
About Lighthouse Resource Center:
Since 1995, Lighthouse Resource Center, located at 1910 W. Fourth Plain Blvd., has been removing barriers to financial empowerment by facilitating comprehensive financial education and counseling. They are a Housing and Urban Development (HUD) certified agency and a qualified 501c3 nonprofit organization serving greater Clark County. LighthouseResourceCenter.org
About Save Frist Financial Wellness:
Save First Financial Wellness is an open-door for anyone who wants to improve their financial situation. Offering one-on-one financial coaching, workshops and classes, Save First works with everyday people to get their money matters under control, track expenses, reduce debt, manage credit and save for tomorrow – so they can get on with living life. Save First provides financial wellness services to several corporate employers and community partners across the Pacific Northwest. SaveFirstFinancial.org