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08/04/2015 11:16 AMAugust 3, 2015 - Branford, CT - The Branford Community Foundation (BCF), the leader in supporting a variety of local philanthropic needs, programs and services for 35 years, has distributed a $1,000 grant to Women & Family Life Center (WFLC) to provide financial education workshops to Branford residents.
Guilford-based WFLC is a 501(c)3 organization that provides vital programs and services to shoreline area women and their families facing a broad range of challenging life transitions, such as divorce, having a baby or facing financial stress.
Founded in 1989, WFLC offers emotional support, legal and financial education and crisis support services free of charge to those in need. WFLC empowers women and their families to face challenges and life transitions with grace and dignity.
In 2014, WFLC, in collaboration with People's United Bank, created Money Smart workshops to support improved financial literacy among area residents suffering from having insufficient resources to survive at or above the poverty level for three months without any income. Only 32% of lower-income CT households have more than $300 in savings, the amount typically needed to withstand an emergency. Many of these individuals and families have used all of their means to stay solvent, often taking on large amounts of debt with no safety net and high levels of financial insecurity. Money Smart workshops follow the FDIC Financial Education curriculum and address budget basics, the importance of understanding credit history and credit reports and debt management. Workshops are free to attend.
The Branford Community Foundation grant award is designated exclusively for Money Smart workshops to be hosted at the James Blackstone Memorial Library in Branford, making it easier for Branford residents to participate and benefit.
The Branford Community Foundation benefits all residents by pooling contributions from like-minded citizens, managing these funds with professional guidance, and then carefully granting a portion of the income generated to local, nonprofit organizations. As a multipurpose permanent local charitable endowment, the Branford Community Foundation helps to build a healthy and successful community by supporting everything from basic needs and health services, to local environmental issues and education, to the arts and other programs.