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United Way celebrated the opening of its new Center for Financial Stability today. The Center, located at the South Florida Urban Ministries Community Center at 11500 NW 12 Avenue in Miami, brings together more than 14 local agencies under one roof to offer a wide array of tools and resources that can help working individuals and families achieve greater financial stability and move toward financial independence. 

United Way Worldwide selected the United Way of Miami-Dade to develop one of two national pilots, based in part on the tremendous need for financial services in South Florida.  United Way of Miami-Dade has a long history of working in the financial stability arena, and the Center will expand its ability to better serve the community’s increased needs.  The goal of this national initiative is to educate other communities on how to successfully develop, implement and operate one-stop centers. 

Bank of America is the national founding partner, providing funding for the Miami pilot center as well as the other national pilot center in Atlanta.  United Way of Miami-Dade selected South Florida Urban Ministries to operate the Center and oversee all the partner agencies that will be co-located at the Center to provide services in their areas of expertise.

“United Way is committed to helping working individuals and families overcome the financial hardships caused by today’s difficult economic conditions,” Harve A. Mogul, president and CEO, United Way of Miami-Dade, said. “We’re excited about the opening of our Center for Financial Stability and grateful for Bank of America and our local funders’ support, as it allows us to expand our work in this area in a unique and personalized way.  By co-locating a number of key financial, employment and benefit services in one site and providing clients with financial coaches, we believe we can help people better manage their economic situation and accelerate their path to financial independence.”  

The Center works with working individuals and families who struggle to make ends meet.  Financial coaches at the Center will help clients develop personalized plans to increase their income, build savings and ultimately build assets such as pursuing higher education, acquiring a home and building a retirement fund, which can help families secure their financial futures.  Services rendered in English, Spanish and Creole, include: helping individuals and families fully access available public and employer benefits, reduce debt and increase credit ratings, claim tax credits, learn to budget and enhance job skills, among others.

“Helping working families and individuals build wealth is a key priority for Bank of America and our partnership with United Way enables us to help more people,” Gene Schaefer, Miami-Dade and Monroe Counties president, Bank of America, said.  “This Center will provide the necessary resources for individuals to become financially self-sufficient, empowering them to earn, save, build and sustain assets and ultimately improve the overall health of our communities."

The bank has a long history of supporting the United Way, including a national commitment of $50 million from 1998-2003 for an early childhood initiative to prepare children to enter school ready to learn and succeed as well as support for the United Way of Miami-Dade’s early learning programs.  And from 2007 – 2009, the Bank of America Charitable Foundation contributed $2.5 million to the United Way to enhance Earned Income Tax Credit (EITC) outreach and free tax preparation efforts, with significant investment for the development and thought leadership on the integration of financial stability strategies at one-stop centers.    

Other supporters of the center include the Siemer Family Foundation, Florida Power & Light, IBM and Volunteer Florida.

For more information please visit www.unitedwaymiami.org or contact the Center at 305-688-3551.

(In photo from left to right: Brent McLaughlin, executive director, South Florida Urban Ministries; Gene Schaefer, Miami-Dade and Monroe Counties president, Bank of America; Harve A. Mogul, president and CEO, United Way of Miami-Dade; William Ho, director, customer service support services, Florida Power & Light; Andrea C. Fletcher, student at Lakeview Elementary; Maria Alonso, SVP, South Florida corporate social responsibility, Bank of America; Lars Gilbert, director, United Way Center for Financial Stability; Vanessa Benavides, associate director, United Way of Miami-Dade.)