New national initiative with Wells Fargo will connect the 100 million people with disabilities and chronic health conditions to accessible financial health tools, virtual financial coaching and counseling
Today, National Disability Institute (NDI) launched the Financial Resilience Center, an online comprehensive education and information hub for people with disabilities and those with chronic health conditions. Provided at no cost, information is organized under six resource areas: employment/unemployment, COVID-19 stimulus, money management, public benefits, housing/food/healthcare and scams, with additional emphasis on federal guidance/policy and community-based resources.
With support from the Wells Fargo Foundation, the goal of the Center is to promote effective financial decision making and stability in response to the adverse economic consequences of the COVID-19 pandemic.
Key collaborators of the Center include LifeCents and the Association for Financial Counseling, Planning and Education® (AFCPE®). The LifeCents financial health platform provides each participant with personalized guidance, resources and referrals to services relevant to that individual’s situation. Referrals to AFCPE professionals with disability-related counseling competencies will also be available for those needing one-on-one counseling or coaching to help assess their financial situation, evaluate trade-off decisions and plan for any financial challenges ahead.
The COVID-19 pandemic has created a great deal of physical, mental and financial uncertainty for many in the U.S., particularly those with disabilities and chronic health conditions. In response, the Center will provide accurate and current information and resources, including helpful tools, to increase financial stability and reduce economic stress. The intent is to empower people with disabilities to acquire personal finance knowledge, improve financial habits and gain the confidence needed to navigate economic uncertainty now and in the future.
“For people with disabilities, chronic health conditions and seniors, the immediate and longer-term health risks of the COVID-19 pandemic are considerable, exacerbated by economic conditions that further inflate financial instability and insecurity,” said Elizabeth Jennings, National Disability Institute Acting Executive Director. “The current circumstances – the stock market losses, shrinking retirement assets, lost wages from furloughs and layoffs and increased healthcare and everyday living costs – are creating a ‘perfect storm’ for individual financial stress. Now more than ever, this financially fragile community needs access to helpful information and support to make good financial decisions.”
“This year marks the 30th anniversary of the Americans with Disabilities Act (ADA) and, for generations, the disability rights movement has fought for equality and accessibility,” said Kathy Martinez, head of Disability & Accessibility Strategy for Wells Fargo. “The Financial Resilience Center bridges the gap between financial distress and accessible resources for people with disabilities.”
“The COVID-19 pandemic has created an extraordinarily volatile and challenging economic environment that has highlighted the extreme financial fragility of the most vulnerable populations,” said LifeCents Founder and CEO Blake Allison. “Wells Fargo’s generous support of the Financial Resilience Center is a much needed remedy for people with disabilities and chronic health conditions in these unprecedented times. We are inspired to be working in partnership with NDI, AFCPE and their incredible teams who are bringing this much needed resource to life.”
“At AFCPE, we believe that all people – regardless of income or background – deserve access to the highest standard of financial guidance,” said Rebecca Wiggins, AFCPE Executive Director. “We are proud to partner with NDI on this important initiative and to provide people with disabilities the opportunity to meet virtually with a qualified financial counselor or coach. AFCPE certified professionals have the rigorous education and experience to be able to meet people where they are, and help navigate a person’s specific situation and unique needs.”
People with disabilities and chronic health conditions and their family members represent a disproportionately high share of vulnerable groups at increased risk for severe complications and death from COVID-19. As a group, this population is also more likely to be unemployed, underemployed, socially isolated and without emergency funds to meet immediate financial needs (rent, food, necessities, etc.). The Financial Resilience Center offers a range of services – from information to education to counseling – to meet the unique needs of this population and their families.
Visit the Financial Resilience Center.
About National Disability Institute
National Disability Institute (NDI) is a national nonprofit organization dedicated to building a better financial future for people with disabilities and their families. The first national organization committed exclusively to championing economic empowerment, financial education, asset development and financial stability for all persons with disabilities, NDI affects change through public education, policy development, training, technical assistance and innovative initiatives. To learn more, visit www.nationaldisabilityinstitute.org. Engage with NDI on Facebook: @NationalDisability or follow NDI on Twitter: @NatDisability.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.98 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.
About LifeCents
LifeCents is a financial wellness company that empowers people to acquire the knowledge, build the habits and gain the confidence they need to make smarter everyday decisions. The LifeCents financial wellness platform helps people become financially aware, savvy and engaged, which is of great value to businesses and communities. For more information on LifeCents, visit www.lifecents.com.
About AFCPE
The Association for Financial Counseling and Planning Education® (AFCPE®) ensures the highest integrity of the financial counseling profession by certifying, connecting and supporting diverse professionals. Our comprehensive certification programs represent the gold standard for financial counseling, coaching and education, including the AFC® (Accredited Financial Counselor®) certification which is accredited by NCCA and nationally recognized by CFPB and Department of Defense. Visit www.afcpe.org for more information.
