When Brenda McPeek walked into the SparkPoint Solano Center in March, she was looking for ways to be more financially secure. Coincidentally, her washer broke down that same week, leaving her family of four, plus in-laws, with no clean clothes.
Brenda didn’t know what to do, as a replacement would have cost a month’s rent. She knew she didn’t have the money and didn’t think she had the means to get it.
Enter Travis Credit Union, a SparkPoint Solano banking partner. Through its partnership with Travis, SparkPoint has been able to offer free financial education workshops, helping dozens of people like Brenda.
“I came in knowing I needed to save, but I got motivated and learned how to actually do it,” said Brenda, “I couldn’t afford a new washer, but through budgeting, we figured out how to replace it within two months. For instance, we pretty much stopped eating out and that really helped me reach my goals.”
Brenda’s story doesn’t end there. She continued working with Travis and SparkPoint to build a savings account.
“We were living hand to mouth, paycheck to paycheck and we didn’t have to be. Having a coach and participating in seminars really helped me to save,” said Brenda. “Since then, our refrigerator died, but because we saved, we were prepared this time to have it repaired immediately.”
For Travis, it’s people like Brenda who motivate them to partner with SparkPoint and share their expertise with the community.
“Our vision is to make a difference in the lives of our credit union members and the communities we serve,” said Sherry Cordonnier, Director of Corporate Relations at Travis Credit Union, “The workshops build confidence by teaching people how to build a budget and stick to it. They make people more aware of their financial choices and how there might be hidden costs in day-day-day transactions.”
According to Rhonda Smith, Family Economic Success Programs Manager with the Children’s Network and member of the Executive Steering committee for Spark Point Solano, having banking partners like Travis Credit Union is critical to making Spark Point a success. She said, “Nonprofits often look at the human-service side, and don’t always look at the business side. Travis partnered with us because our missions align, and when our community thrives, so do the local businesses that serve it.”
SparkPoint is a United Way of the Bay Area program. SparkPoint Solano is one of eight Centers around the Bay Area, offering low-income people a full range of services to help them achieve financial stability. SparkPoint clients work with a coach, who helps create a step-by-step plan to set and achieve personal financial goals to build assets, grow income, and manage debt.
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