Family Promise has worked with Appalachian Opportunity Fund (AOF), a nonprofit organization that strives to eliminate financial stress for Appalachian households, for several years. This relationship allows families in our program to pursue knowledge of their finances.
AOF enrolls families in their program and then matches them with a financial coach. The coach and the family then meet to individualize their specific needs and work together to reach those goals.
Oren Peterson is one of AOF’s financial coaches who often works with our program’s families. He explains that the experience is not transactional- that even when the family exits our program, they offer financial assistance.
“We communicate as long as it’s helpful,” said Oren. “We will always be there for them to reach out to; we want to walk with them on their finance journey.”
One concern for a lot of families is predatory debt. Predatory debt occurs when lending practices use deceitful tactics to dupe people into loans they cannot afford. AOF helps families terminate their predatory debt by suggesting they leverage their consumer rights while helping them improve their credit rating.
Personal finance is riddled with shame, so it is crucial that families feel as if they have control over their situation. That is why partnerships with organizations such as AOF are pertinent to our operations.
