STAFFORD, Texas, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Money Management International (MMI), a nonprofit financial counseling agency, was awarded a grant from USAA to help veterans and minorities improve financial wellness, with a specific focus on diversity, equity and inclusion. The funding is part of a broader three-year, $50 million philanthropic commitment.
“Once again, we are incredibly thankful for the continued support from USAA,” said Jim Triggs, President and CEO of MMI. “This grant will contribute to the long history of MMI helping diverse communities across America who are searching for ways to improve their financial health or break free from credit card debt.”
Thanks to the generous funding, MMI will complete the transformation of its debt relief program to a fully mobile-first experience. The final product will make the entire experience easier for clients, enhance education, and maximize the impact of the program.
“We are honored to support these communities through the help of MMI,” said Justin Schmitt, AVP of Corporate Responsibility at USAA. “We know MMI has a strong record of accelerating financial inclusion for military veterans as well as many within historically under-resourced communities who are trying to reduce debt and build financial wellness.”
Building a mobile-first experience allows MMI to deliver real-time advice that is critical to helping BIPOC and military-affiliated clients start their debt reduction journey through reduced interest rates and expedited repayment.
MMI believes that its expanded online offering will represent about 20 percent of all financial counseling, and about 40 percent of those people are from minority groups. In 2022, MMI helped over 46,000 households repay nearly $200 million in debt.
“It was bad, I had five or six credit cards and tens of thousands of dollars in debt,” said Demetrius Thrasher, a Navy Veteran and MMI Peer Advocate from Atlanta, Georgia who paid off more than $90,000 of debt through MMI’s debt management plan. “Those payments were no joke, but as long as I gave MMI a call, my counselor worked with me and I was able to stay on the right path. I was so thankful for it.”
Thrasher recently shared his story of how he paid off his debt in MMI’s podcast series, Long Story $hort.
About MMI
Money Management International (MMI) is changing how America overcomes financial challenges. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For over 60 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
For reporters looking to interview real people for stories, MMI has created a group of nearly 200 clients from across the country who are willing to share their experiences with the media, in the hopes of helping others challenged with debt. Our peer advocates have paid off over $9 million of debt and now serve as MMI ambassadors. Hear from them on MMI’s podcast, Long Story $hort.
To schedule an interview with MMI experts or clients in your market, please contact:
Thomas Nitzsche, 404.490.2227, Thomas.Nitzsche@MoneyManagement.org
Lori Geary, 404.551.2151, lgeary@lexiconstrategies.com
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