"It's hard to gain assets or manage money without a basic understanding of financial capability," says Lucien Blackwell, equity sales associate for an international investment banking firm and instructor for a course on credit at the upcoming NeighborWorks Training Institute (NTI) "Money makes the world go round."
April is Financial Capability Month, a time to highlight the value of understanding finances – and the education it takes to get th
ere. Blackwell, whose career has included consumer and small business lending, mortgage finance, wealth management, corporate finance and investment banking, provides that education for housing practitioners at the NTI so that they, in turn, can provide it to others. The education component is essential for everyone, he says. "Anyone who's ever wanted to own a house or buy a car or rent an apartment or get job – money is a part of that. You have to understand it, manage it, care for it. You have to learn how the system works."
Blackwell will focus on the credit part of that system in his course, "Credit Counseling for Maximum Results," at the NTI, an education and training opportunity for housing practitioners. NeighborWorks America is the leading trainer of community-development and affordable-housing professionals. The NTI, to be held in May in Los Angeles, will feature about two dozen courses under the umbrella of financial capability.
Blackwell's class will appeal to credit counselors and to those who want to delve deeper into understanding credit, how it works and how it impacts our lives. He will talk about the ins and outs of credit reports, how a credit score is derived and how lenders view consumers with non-traditional and/or thin credit profiles.
He will also take participants into the mind of a lender, to help them understand credit from both sides of the lens. "We're going to play lender for a day," he says. Participants will leave knowing who is "lendable" and what they can do to help someone's credit profile.
According to Blackwell, "Good credit is akin to a good reputation. And both are more powerful than money itself!"
Christi Baker, a consultant and financial coach, will teach two capability courses: "Next-Level Financial Coaching" and "Using Trauma-Informed Skills in Financial Coaching." Her courses will take
place over two days; the advanced coaching course will include an additional online component after the NTI ends.
"Financial capability programs are so important to help people reach their financial goals and build financial health," Baker says. They can help individuals deal with obstacles such as low credit scores and low – or no – savings accounts. These programs can help individuals focus on different areas and improve financial health over time. "At the same time, we know our systems aren't equitable, so financial capability programs can help people navigate the systems so they're better able to access financial programs and opportunities."
To best help clients, it's important for housing practitioners to stay up to date in a field that's always changing and to be responsive to the community they're serving. Baker's coaching class will provide hands-on skills development. Meanwhile, the trauma-informed program will address everything from creating a calm atmosphere in the waiting room to client interaction. The ultimate goal, she adds, is to help people move forward with their own goals and financial health.
The NTI will be held May 23-27. For the in-person program, please register by April 20.
04/11/2022
