Volunteer Money Coach

Transcription

1 Volunteer Money Coach Pilot Report February 2013 Submitted to:

2 United Way of Central Iowa (UWCI) conceived Volunteer Money Coach (VMC) as a new program to further the goal and operationalize the strategies of its Income Impact Area. The overall goal of the Income area is for all individuals and families to be economically selfsufficient. The VMC program was developed to supplement programming that connects lowincome individuals and families with resources and skills to access mainstream financial products and services so that they build savings and become financially stable. The program builds on Financial Coaching Training that UWCI has offered to staff of direct service organizations who work with low-income individuals and families in the area of financial stability and self-sufficiency. A secondary purpose of the program design is to create additional opportunities to take advantage of volunteer interest in contributing their expertise to help UWCI move toward its 2020 goals. Building on the success of the annual VITA effort, the VMC program creates yearround volunteer opportunities in the Income Impact area. This report provides an overview of the VMC program design and initial implementation during a pilot of the approach in Lessons learned during the pilot year are discussed and recommendations for modifications to the design based on those lessons are also offered to inform decisions about continued investment in the program. Program Design Parameters of the VMC program were developed by UWCI staff and volunteers in consultation with agencies that had sent staff to Financial Coaching Training and clients of those agencies. Three aspects of the program were outlined client (or protégé) criteria, volunteer (or coach) expectations, and role of agency partners. Each program component is described briefly below and additional information is attached in Appendix A. Protégé: Criteria for protégé involvement in the VMC program were developed to be used to select potential clients to be matched with a money coach (see Appendix A-1). Criteria included having income and a desire and willingness to take advice and change Page 1

3 behavior to increase financial stability. Additionally, protégés were to have the ability to engage in a financial mentoring relationship for at least six months. Volunteer/Coach: A position description and qualifications of volunteers were developed (see Appendix A-2). The program design called for volunteers to commit to establishing a relationship with an assigned protégé, meeting with them on a regular basis (two or more times a month) for six months. Interested individuals were expected to complete an initial four hours of training and attend ongoing training as needed. UWCI assumed the lead role in recruiting volunteers using its established infrastructure and connections. Partner Agency: To become a partner in the project, an agency was required to have sent staff to a Financial Coaching Training. A draft memorandum of understanding between UWCI and potential partners was developed, outlining the responsibilities of both parties (see Appendix A-3). The intent was for professionals in financial services who received UWCI training in the financial coaching model to volunteer with one of the partnering agencies, and therefore be subject to the volunteer requirements and processes of the agency prior to being matched with a specific client/protégé. Once agreement on the initial design was reached, UWCI committed approximately $25,000 to implement a one-year pilot of the approach and subsequently entered into an agreement with the (YPII) to coordinate the effort. The goal of the pilot was to train and match ten volunteers with low-income clients of partnering agencies. UWCI also developed marketing material for the program (see Appendix A-4) and adapted the Financial Coaching curriculum for use with prospective volunteer money coaches. YPII developed additional background material, data collection instruments, and tools for monitoring progress of volunteer-protégé matches (see Appendix A-5). Implementation Recruitment, training and support of volunteers: As mentioned above, UWCI took the lead during the pilot in identifying and recruiting potential volunteers with expertise in financial Page 2

4 services or financial planning. Primary recruitment efforts were concentrated in March Over the course of the pilot, eighteen individuals were contacted about their interest in volunteering in the program. Of those, ten individuals (seven females and three males) completed a four-hour VMC volunteer training conducted by Corinne Lambert of United Way and Steve Havemann of the on either March 10, March 25, or April 27. The training covered challenges facing individuals who are experiencing poverty, the cyclical mindsets that may perpetuate poverty, specific curriculum resources/tools and an indepth examination of the coaching model. Feedback on the training from participants was generally positive, with many of the volunteers appreciating the insights into poverty, learning about the coaching model and having direct instructional resources to begin conversations with a protégé. While highly satisfied with the training, volunteers shared that they would appreciate additional curriculum resources or tools to begin the coaching process and asked that the training be condensed into a shorter amount of time. Background information was collected from volunteers who completed the training. Most of the volunteers are employed in some aspect of the financial services or insurance industries, and half held one or more financial service degrees, designations, certifications, or licenses. Length of experience in financial services of the volunteers ranged from one to forty years. None of the volunteers spoke any languages other than English. Overall, volunteers were quite flexible in the times and locations they were willing to meet with protégés and only a few indicated any type of preference for the characteristics of the protégé with whom they would prefer to be matched. As part of the process, volunteers were also informed that a background check would be completed as part of the volunteer screening policies and procedures of agency partners before being matched with a protégé. VMC project coordinator Steve Havemann at YPII met with each potential volunteer individually to provide a programmatic overview, and stayed in touch on a bi-weekly basis with volunteers providing program updates, resources or financial education updates from UWCI, regardless of whether they had been matched with a protégé. Additionally, Havemann arranged two Page 3

5 opportunities for volunteers to meet as a group to share their experiences and maintain volunteer interest and enthusiasm. Involvement of partner agencies: Four local agencies were initially identified for the project based on their previous participation in Financial Coaching Training. Of those, three took part in the pilot Habitat for Humanity, Hawthorn Hill, and Iowa Homeless Youth Centers. In addition, a fourth organization, West Des Moines Human Services, became involved mid-way through the pilot year. Home Inc. was the initial fourth partner that declined the opportunity due to the lack of a volunteer management and background screening process. The participating agencies each operate programs that address financial stability and provide services to help clients move toward self-sufficiency. Common to each of the programs from which clients were recruited is a strong case management component that emphasizes money management and financial responsibility. Only a few caseworkers (one to three per partner agency) were directly involved in the VMC program. Each partner agency integrated the VMC program into their unique service model in an effort to best take advantage of the program. Two of the four agencies have determined that involving clients who are nearing completion of their programs would be advantageous and a way for those clients to receive ongoing support and coaching after their involvement in the agency s program ends. Volunteer - Protégé Matches: The pilot phase of the program resulted in seven matches of trained volunteers with low-income individuals who were clients of partnering organizations, with four of those matches continuing for at least three months. Out of these successful matches, one match persisted for the target goal of six months, with two persisting for approximately three months and one match that has been made within the last month, but is going well and they have already met three times. The first successful match paired a female volunteer from the banking industry with a young, single mother client of Habitat for Humanity in a partnership that lasted over the prescribed six months. The coach worked with the protégé on debt management and elimination, general Page 4

6 budgeting skills, saving for the future, managing unexpected expenses and collected receipts on a monthly basis to track spending habits. Two other successful matches involved clients from West Des Moines Human Services, which has incorporated the VMC program as an expectation for families being served in their transitional housing program. Volunteer coaches paired with transitional housing clients are able to reinforce and apply the financial education delivered through regular programming provided by the caseworker. Lastly, a recent match between a male volunteer and male client of Iowa Homeless Youth Centers has gotten off to a solid start, with a positive rapport quickly established between coach and protégé. This match is also fortuitous as the protégé s most significant struggle is money management and saving, which directly correlates to the strengths and background of the volunteer. The VMC program is designed to allow flexibility and essentially a trial period to make sure that a coach-protégé match is suitable and beneficial to the protégé. Reasons that some of the matches did not persist beyond an initial meeting or two include language barriers between the protégé and volunteer, different cultural norms based on gender, lack of continued engagement by the protégé and inconsistent abilities and desires to frequently communicate with their coach. Lessons Learned While the pilot phase fell short of its overall goal of ten successful matches, a good deal was learned during the pilot year of implementation of the VMC program. YPII staff interviewed representatives of each of the four partner agencies and hosted a luncheon attended by three of the volunteers and UWCI staff to discuss the project. While enthusiasm for the VMC program remains high, a number of challenges to successful implementation and possible expansion of the model emerged. Protégé Recruitment: Developers of the VMC model originally expected that there would be a fairly sizable pool of potential protégés who would be eager to take part in the program. In reality, recruiting protégés was slower and more challenging than anticipated. The programs from which partner agencies were identifying potential protégés serve a relatively small number of individuals/families at any one time and not all are ready or interested in entering a Page 5

7 financial mentoring-type relationship with a stranger. Many participants in the programs targeted for VMC involvement already face significant demands on their time and committing to yet another regular meeting and person in their lives can seem overwhelming, especially when the benefits of participation are not clear. While the materials explaining the program were considered adequate, they were not sufficiently persuasive from a marketing or outreach perspective to entice participation. In addition, non-english speaking clients of partner agencies were largely excluded from the pool of potential protégés. Some concerns were also expressed that the protégé terminology was confusing and a barrier to engaging participants. Matching Process: The VMC model relies on a variety of partners with different roles and relationships. As the pilot was implemented, it became apparent that there was a disconnect between the recruitment and training of volunteers by UWCI and YPII and the identification and engagement of protégés by agency partners. The lack of familiarity of agency partners with volunteer coaches and vice versa resulted in matches being made with little knowledge of the personal dynamics that could affect the coach-protégé relationship. Caseworkers are often protective of their clients and may be reluctant to encourage them to participate in an individual mentoring relationship with someone who is essentially a stranger to both caseworker and client. In other cases, not knowing the background and capabilities of individual coaches limited the ability of caseworkers to make informed decisions about matching client needs with volunteer expertise. Caseworker involvement during the initial stages of a match proved beneficial. While the VMC design recommended that an initial meeting with the protégé and coach be arranged and attended by the caseworker, taking time to hold two or three joint meetings among caseworker, protégé, and coach helped get matches off to a good start. Ensuring that a match is suitable and will be productive and successful in the long run is critical and worth the upfront investment of time. Page 6

8 Content Areas of Coaching: Caseworkers often spend a significant amount of time working with clients on basic financial matters as part of the regular program focus and feel as if they have a good handle on budgeting and money management, connection to mainstream financial institutions and products, and the importance of building savings, etc. While some appreciated the reinforcement of a volunteer coach on these matters, others expressed concern that the volunteer was not bringing anything new to the table. At the same time, volunteers were sometimes uncertain about what information or resources they could provide to help a protégé beyond these basic issues. In addition to being trained on the coaching model, volunteers need to be prepared with a variety of content areas and resources from which they can draw to ensure that the financial coaching experience is both relevant and timely for the participant and adds value to the referring partner agency s programming. Looking Ahead -- Recommendations Based on the lessons learned from the pilot year and the ongoing interest and support of UWCI, volunteers and partners to continue the VMC program, we suggest some minor modifications to strengthen the design and improve the implementation of the program. We believe that the following recommendations can be incorporated into the program design with little or no increased cost. Expand partnership base and enhance outreach and marketing: The difficulty of recruiting a sufficient number protégés for the pilot was unexpected and resulted in some volunteer coaches not being matched with a protégé until well-after they completed their training or not at all. Current partner agencies accepted some responsibility for the low numbers of protégés identified and are committed to continue and expand their own outreach and recruitment efforts. Even engaging a significant number of clients of the existing partners in the program, however, will likely not generate as many protégés as the program could serve. Three activities are recommended to address this issue: 1) Approach additional agencies about participating in the program and do not restrict agency partners to those that have sent staff to the financial coaching training. Page 7

9 2) Revise and/or supplement program material to be more appealing to potential participants. It may also be advisable to replace the protégé terminology, which did not resonate well with the target population, with another term for participating individuals. 3) Develop and implement additional and Innovative outreach efforts to engage potential participants in cooperation with partner agencies. Such efforts could involve volunteer coaches in meeting and sharing their expertise with small groups of potential participants in advance of arranging one-on-one mentoring relationships for example. This would also create an additional and less intensive opportunity for volunteer involvement. Increase familiarity between volunteers and partner agencies: In order to increase the familiarity and comfort level of caseworkers with volunteers and to better prepare volunteers for their work with an agency s clients, additional information-sharing and more opportunities for interaction are needed between the two groups. Two easily implemented activities to address this issue are to: 1) Create volunteer profiles summarizing the background and expertise of trained volunteer coaches that can be shared with partner agencies who have clients interested in being matched; and 2) Arrange opportunities for volunteers to meet agency representatives to exchange information. This could be incorporated as part of the volunteer training, for example, by allowing time for a panel of agency partner representatives to share information and answer questions about their agencies and programs followed by informal networking. It may also be advantageous to host a separate event to bring caseworkers and volunteers together at the beginning of the next recruitment period so they can get to know each other and set the groundwork for future successful matches. Build-in flexibility and support initial protégé-coach meetings. A six-month commitment and bi-weekly sessions may seem overwhelming to some potential protégés. Ensuring that these Page 8

10 commitments are framed as opportunities rather than as requirements of the VMC program could alleviate this barrier to participation. While the expectation of a six-month match should remain, acknowledging that duration and intensity of the relationship based on individual needs and circumstances of protégés could be beneficial and less intimidating to potential participants. Further, time invested by partner agency caseworkers at the beginning of a match can help get the protégé coach relationship off to a good start. Rather than a single joint meeting of caseworker, protégé and coach as was suggested for the pilot, three or four joint meetings may be necessary to ensure that both client and volunteer are comfortable with the match and want to continue the coaching relationship. While this may result in some additional time commitment of agency partner staff, representatives we interviewed were all willing to make that investment for the benefit of their participants. Enhance and expand content and structure: To ensure that the volunteer coaching is adding value rather than duplicating the efforts of caseworkers, it is important that volunteers be prepared to assist participants on variety of financial topics beyond basic budgeting and money management. To this end, it would be helpful to have specific resources available around six to seven differing goal areas, such as debt relief and credit repair, understanding and utilizing employee benefits, managing a mortgage, long-term budgeting and investment strategies. We recommend that specific goal or content areas be identified and that hard-copy and online resources be compiled for each. This could provide more structure to the coaching relationship when and if it is needed and help protégés become competent in a variety of financial areas. Finally, as implementation of VMC moves forward we recommend that the initial performance measures and data collection efforts be re-examined taking into account the experience of the pilot year. For example, while we anticipated that on-line data collection methods would be easier and more attractive for both volunteers and protégés, feedback indicated that paper documents were more suitable. Further, the expected outcomes or results of the program may need to be revised based on actual and more realistic expectations learned during the pilot year. Page 9

11 Appendices: A-1: A-2: A-3: A-4: A-5: Protégé Selection Criteria Volunteer Money Coach Position Description Memorandum of Understanding between UWCI and Partner Agencies VMC Marketing Flyer developed by UWCI Program Material and Data Collection Instruments developed by YPII VMC Program Overview Initial Collaborating Organizations (agency descriptions) Volunteer Money Coach Steps to a Match (flow-chart) Protégé Application VMC Mentor Profile (Survey Monkey) VMC Protégé Baseline Assessment VMC Quarterly Tracking Sheet (for volunteer reporting) The (YPII) is a non-profit intermediary that brings innovation, critical thinking, and valued support to the youth services field in Iowa. YPII partners with a wide variety of social service organizations and public agencies to develop, evaluate, and expand services and opportunities for vulnerable youth and adults in Iowa. Page 10