With the cost of housing, health care, child care, gas and other basic necessities growing at a faster rate than income, many working families are barely getting by. One misfortune – a lost job, a health problem – and a family can go from living on the edge to living on the streets.
In response, Wells Fargo and United Way have partnered nationally to launch the Wells Fargo Financial Capability Network. In Miami-Dade, that translates into a $300,000 three-year grant to expand the services of the United Way Center for Financial Stability (UWCFS), specifically to Miami-Dade County which has more than 25,000 employees and to Miami Dade College with more than 80,000 students.
Wells Fargo and United Way will launch these expanded services with a training of 50 department payroll representatives (DPR) at Miami-Dade County. As the human resources liaisons within the various county departments, this training provided by the UCFS will equip the DPRs with information to help employees pave a path to financial independence by accessing available services and support – from financial coaching to free tax preparation and benefits enrollment to employment assistance and credit counseling.
United Way of Miami-Dade is one of eight United Ways in the country selected as initial anchors of the new Wells Fargo Financial Capability Network, a five-year partnership with United Way Worldwide to help the low and moderate-income with financial education, access to safe and effective financial products and training on how to use them. Opened in 2010, the UWCFS is operated by South Florida Urban Ministries.