GreenPath Financial Wellness announced Thursday that it has received a $1 million grant from San Antonio-based USAA — a continuation of a previous initiative through which GreenPath used a USAA grant to address educational and economic disparities for Bexar County residents.
The 2022 grant is similarly intended to assist low-income military families and communities of color reduce debt and improve credit scores through financial counseling and debt management programs.
GreenPath's goal with the grant funds is to increase financial literacy for 4,000 clients and reduce their debt by 20% over the course of 12 months. The new grant expands GreenPath's ability to provide free one-on-one financial counseling to military families and Black and indigenous families in San Antonio, Dallas, Austin, and six other regions throughout the country.
The USAA funding will allow GreenPath-certified counselors to help households with budgeting, student loan counseling, housing counseling, credit report reviews and debt management, as well as coaching to help them achieve financial goals.
GreenPath — founded in 1962 and one of the largest financial counseling agencies in the country — is headquartered in Michigan but maintains a San Antonio office at 4243 Piedras Drive. The company and its affiliates work with individuals, banks, credit unions and employer partners in in 33 national locations. GreenPath is also a member of the Texas Diversity Council, the Michigan Diversity Council and the National Foundation for Credit Counseling.
The company currently provides one-on-one counseling to more than 100,000 people a year across the country, appearing at 160,000 educational engagements. Its Debt Management Program has helped clients pay off more than $250 million in debt.
