Winston-Salem, NC – The Center for Smart Financial Choices (CFCFC), a non-profit that has provided financial education to youth and adults for nine years, has announced it will dissolve on December 31 and transfer its resources to Habitat for Humanity of Forsyth County.
The two organizations have a history of collaborating, as CFSFC has been among the community partners who have participated in Habitat Forsyth’s annual Youth Financial Literacy Camp. Habitat continues to expand its programs for underserved youth in the community, establishing a year-round Youth Empowerment Program in November 2019. Financial literacy is among the life skills programming offered to YEP members.
“Habitat has partnered with The Center for Smart Financial Choices over the past few years, and we are honored to accept their assets as they close,” said Mike Campbell, executive director and CEO of Habitat Forsyth. “In their honor, Habitat Forsyth will open a Future Leaders Scholarship Fund at the Winston Salem Foundation. The earnings from this fund will help the children and young adults growing up in Habitat families to further their education, whether that be training for a trade or earning a two- or four-year degree.”
The addition of CFSFC’s programming, including the popular Adult for a Day simulation, will enhance Habitat’s offerings for youth, said George Redd, chief program officer for Habitat. “We are delighted that the Center considered us the right agency to carry forward its important work. By the time families enter our homeownership program, they have often already made common mistakes in how they have spent money or used credit. The earlier we can educate youth about handling money wisely, the better their chances of making sound decisions as adults.”
Betty Ann Faulkner, executive director of CFSFC and Accredited Financial Counselor, AFC®, will now work with Habitat as a consultant.
Although Faulkner had told CFSFC’s board of directors in February that she would retire at the end of the year, the decision to close the organization was still a difficult one, she said. Since its founding in 2011, CFSFC has offered financial literacy training to more than 24,000 youth and teens and 3,000 adults. “There continues to be a very clear deficit in financial education across our community, even more so now that the number of unemployed or underemployed is growing. The closing of our organization does not make this issue go away, and we feel happy that Habitat will be continuing this work,” Falkner said.
