The mission of the Center for Financial Independence & Innovation (CFII) is to offer Georgians with disabilities, family members/care givers, and service providers access to affordable financial products and services that will result in increased personal and financial independence. 

The history of the Center for Financial Independence & Innovation (CFII) begins in 2003 when Georgia successfully competed for a federal grant to bring Alternative Financing for Assistive Technology to the state. Credit-Able, Georgia’s Alternative Financing Program for Assistive Technology, is a result of funding provided by the federal government under Title III of the Assistive Technology Act of 1998.  The Alternative Financing Program was developed to make Assistive Technology more affordable for adults and children through low-cost financing that is consumer controlled and directed.  Since its inception in 2003, Credit-Able has provided $2.8 million in loans for Assistive Technology either directly or through guaranteed loans offered through partner credit unions.  Despite this success, there continues to be a pressing need to provide other financial products and services to Georgians with disabilities and to further leverage public-private partnerships that would result in asset-building opportunities.

CFII recognized and responded to the need to offer additional programs to address the asset gap for people with disabilities.  Nationwide, the poverty rate of individuals with disabilities is three times greater than those without disabilities. Despite the passage of the Americans with Disabilities Act (ADA), current public policy sends a disturbing message that assistance will only be offered to those who remain at the bottom of the economic ladder.  But, advocacy efforts have begun to create a positive shift in this paradigm, leaning toward inclusion in the workforce and the community.  Demands from individuals with disabilities for real careers, real homes, and real opportunities have shifted from a reliance on income maintenance programs to strategies that advance self-determination and financial independence.

We believe that through a greater understanding of personal finance, all Georgians can enjoy a more secure, satisfying and independent life.

– Jackie Willes-Weathers, CFII Executive Director

While there have been a number of asset building initiatives designed to promote individual and family economic success utilizing strategies that include free tax preparation, banking the unbanked, financial education, participation in matched savings plans and homeownership counseling, few have taken into consideration the needs of individuals with disabilities.  Organizations have historically focused on asset building for low-income populations but have yet to identify individuals with disabilities as a major market segment – despite the fact that over 50% of individuals with significant disabilities are poor.  

CFII believes that an effective strategy to close the asset gap for low-income populations is making financial institutions and services more accessible through affordable consumer loans, low-cost checking and saving accounts, reasonably priced transaction services (money orders, wire transfers, check cashing, etc.), and microenterprise loans.  There is a tremendous need for financial education and asset building strategies to be developed specifically for individuals with disabilities that can factor in public benefits and earned income as well as planning for the future.  But - there are no comprehensive asset-building policies designed for working individuals with disabilities that addresses the myriad of issues unique to this population.   Financial education can – and will – be woven into every aspect of our work to empower individuals with disabilities to become economically self-sufficient.  The Center for Financial Independence & Innovation focuses on asset accumulation strategies for low-income and underrepresented individuals, giving particular attention to the cultural barriers that need to be addressed to engage individuals with disabilities. 

Specifically, CFII has responded to the demand for increased asset-building opportunities with our four (4) core services and corresponding activities:

Credit-Able mean more than just money for AT!  Credit-Able consumers have increased their credit scores with steady repayment histories and have gained a greater understanding of financial products available to them.

- Daphne Brookins, Credit-Able Consumer Liaison

Credit-Able serves as a financing alternative for individuals with disabilities that lack access to capital for the purchase of Assistive Technology.  This program is available to any resident of Georgia indicating a need for Assistive Technology regardless of type of disability, age, income level, location or residence in the state of Georgia, or type of AT device and/or AT service requested. Specifically, the Credit-Able Program is designed to provide loan options for acquiring Assistive Technology, including home accessibility modifications, hearing aids, adapted vehicles, ramps, communication devices, computers and adapted software, and blind/low-vision equipment. 

Credit-Able is a collaborative effort between many organizations dedicated to increasing the financial independence of Georgian’s with disabilities, including:

• Georgia Department of Labor/Tools for Life
• Georgia Credit Union Foundation
• Georgia Credit Unions (Credit Union of Georgia, Georgia’s Own Credit Union, Gwinnett Federal Credit Union, The Coca-Cola Company Family Federal Credit Union)
• Brain and Spinal Injury Trust Fund Commission
• Georgia Department of Community Affairs
• Georgia Council on Developmental Disabilities
• Statewide Independent Living Council and Independent Living Centers across Georgia
• Assistive Technology Resource Centers

These partnerships have grown in scale and scope since 2003.  By working collaboratively, CFII has increased its visibility throughout the state by developing relationships with community disability organizations, financial institutions, and government agencies and making asset-building a priority. 

Financial Education

Financial education plays a major role in our culture by giving people the required knowledge and skills to make accurate consumer decisions, follow appropriate and smart financial practices, achieve economic goals, and to become financially stable.  Currently, CFII offers workshops in the following topics:

Managing Your Money/Budgeting
This workshop covers the basics of managing your finances and taking control of your financial life. Strategies taught in this session include:

• Organizing your basic finances
• Developing a livable budget
• Balancing your checkbook and managing a checking account
• Tips for saving and reducing debt
• The importance of paying bills on time

Understanding your Credit
This workshop focuses on ways in which you may improve your credit to secure a successful financial future. Information taught in this session includes:

• Obtaining your credit report
• Reading your credit report
• Improving your credit score
• Disputing errors on your credit report

Basics of Banking

• Choosing a bank or credit union
• Opening a checking and/or savings account
• How to write a check and balance your checkbook
• Fees – what to expect

Financing Assistive Technology
This workshop focuses on ways to find and finance assistive technology and equipment.  We will cover:

• Knowing what you need
• Comparing vendors and quotes
• Identifying funding sources
• Creating a savings plan
• Applying for a loan

Buying a Home
This seminar offers the basics of financing a home. Information covered in this session includes:

• Evaluating your budget - how much can you really afford?
• Basics of Credit
• Mortgage Loan Process
• Special loan programs and down payment assistance
• Working with a Real Estate Professional
• Insurance, Inspection, and Appraisal

Volunteer Income Tax Assistance/Georgia Disability Tax Initiative

CFII’s core mission is to serve low-income individuals with disabilities and assist them in their efforts to become financially independent.  Individuals with disabilities face unique challenges and barriers to receiving “traditional” financial services such as tax preparation.  The most common barriers are 1) lack of transportation and 2) lack of knowledge about tax law.  For the past three years, CFII has addressed the first barrier by purposefully partnering with organizations that provide on-site services to people with disabilities.  There is lack of knowledge about tax law. This poses a tremendous challenge, and CFII is working to increase basic tax knowledge by providing regular tax education clinics for consumers with disabilities in the months leading up to the 2010 tax season.  These informational sessions will help PWD prepare for tax season, gather the necessary documents, set up a checking/savings account if they do not already have one (for the purpose of participating in e-file), and working with benefits navigators when appropriate.

Asset Alliance of Georgia

The ultimate mission of the Center is to become a clearing house of financial products and services for individuals with disabilities and their family members by fostering collaborative partnerships with community organizations and financial institutions to provide these much needed services.  The Asset Alliance of Georgia was formed from an expressed need to address the barriers that currently inhibit Georgians with disabilities, their families and caregivers from accessing and maintaining financial assets.  Lead agencies on this initiative include CFII, the Georgia Council on Developmental Disabilities, and the National Disability Institute.  Members come together on a quarterly basis to discuss current asset policy issues, exchange ideas, collaborate on projects, and to support to asset-development policy agenda for the state.  Currently, the Asset Alliance is evaluating options for creating a state IDA program that would be more inclusive of individuals with disabilities by allowing Assistive Technology be an acceptable savings goal.  Similar efforts have been successful in other states, including Utah and Washington.