Impacting Financial Stability
The Importance of Financial Stability
More than 42,000 of the adults living in poverty in Cuyahoga County are employed. Residents who work part-time or part of the year are much more likely to live in poverty than residents who work full-time, year-round. We help members of the community become more financially stable through job training and helping them secure meaningful work to increase their earnings. We also help them learn to manage the money they earn, and ultimately to save it. United Way is investing in programs to help accomplish all three of these objectives.
- Job Training for Adults and Teens – Programs creating career pathways for adults and teens to in-demand and life-sustaining jobs and industries.
- Adult Literacy and GED Attainment – Programs providing remedial education services and/or successfully helping individuals attain their high school equivalency.
- Financial Literacy – Programs helping individuals and families understand their financial options to stabilize and/or begin the process of debt reduction and asset development.
As a result of our efforts, we have achieved the following results in the past twelve months:
- 15,684 people received assistance filing their taxes. 4,973 people claimed the Earned Income Tax Credit, with an average credit of $1,271. 1,857 people claimed the Child Tax Credit, with an average credit of $943.
- 4,148 people were served by workforce readiness programs.
- Of the people who obtained a job, 69% retained that job for 90 days.
- 640 people served by financial education programs reduced their debt.
- 1,342 people served by financial education programs completed a family financial plan.
- 858 people served by financial education programs obtained mainstream banking products or services.
- 148 people served by legal and mediation programs avoided having their homes foreclosed.
- 186 people improved their scores on the Tests of Adult Basic Education.