Credit building is a goal-focused process. Whatever your clients short- or long-term goals may be (financial and otherwise), identifying the credit building connection to these goals can help your clients’ to create a concrete action plan to move forward. Upon completion of this module you will: - Be introduced to CBA's Credit Strength Roadmap© - Shift the paradigm from credit as a liability to credit as an asset. - Emphasize the value of creating SMART goals. - Connect credit building to the achievement of those SMART goals.
Credit as an Asset is CBA’s signature training that leverages the expertise and experience of our vast community of nonprofit practitioners to identify credit building best practices across sectors and target markets. This e-learning course will help financial coaches and counselors:
Understand credit building as an essential and viable activity, foundational to the successful implementation of any financial asset building strategy for low-income and underserved individuals and families;
Understand the credit industry; in particular, how credit reporting, credit scoring, and consumer protection has evolved over the years
Explore tools and develop skills in order to design, implement, and measure credit building programs based on client needs and goals as well as organization missions and capacities;
Understand how to identify affordable and responsible credit building products locally, and
Learn about best practices in credit education, access to responsible financial products, and measuring and communicating client credit outcomes.
This course is approved for 6 CEUs for AFCPE ® Certified Professionals
You must first complete MODULE 2 Wrap-up before viewing this Lesson icon step 2 roadmap - Help your clients understand their credit report and credit score, how they are different, and why they are both important to credit building success. Upon completion of this Module, you will: - Value both credit reports and credit scores as Credit Building coaching tools - Deepen understanding of these tools in today’s credit industry context - Understand how coaches can use these tools to assess client Credit Building readiness and support ongoing Credit Building.
- Module 3 Introduction: Know The Score
- Lesson 1: Understanding the Consumer Credit Industry
- Lesson 2: Credit Reports as Financial Coaching Tools
- Lesson 3: Which Score?
- Lesson 4: Scoring Factors
- Lesson 5: External Factors that May Impact Credit Scores
- Lesson 6: Review Best Practices for Good Credit Scores
- Lesson 7: Know the Report
- Lesson 8: Which Report?
- Lesson 9: Understanding Online Credit Tools
- Lesson 10: Trended Credit Data
- Lesson 11: Assessing Credit Reports for Credit Building Readiness
- Module 3: Practice Your Skills
- MODULE 3 Wrap-up
Now that we have a good understanding of why credit is important, and how to make sense of credit reports and credit scores, we can begin to focus on moving from theory to action. Credit building at its core is about financial capability: putting financial knowledge and skills to work by successfully opening and managing active lines of credit. Upon completion of this Module, you will: - Reinforce successful management of ACTIVE financial products as an essential credit building element. - Learn about how credit building is happening across the country and locally (as applicable). - Be equipped with tools for identifying, assessing, and developing credit building financial products.
- Module 4 Introduction: Get the Good Stuff Going
- Lesson 1: Credit Building as a Financial Capability Strategy
- Lesson 2: Non-traditional Strategies for Credit Building
- Lesson 3: Creating Credit Building opportunities for your clients
- Lesson 4: Assessing Credit Building products
- Module 4: Practice Your Skills
- Lesson 5: Where to look in your community
- Lesson 6: Identify a graduation product
- MODULE 4 Wrap-up
It is impossible to talk about credit without mentioning debt. In many cases debt management is a critical piece of the financial puzzle for our clients, and credit building can often incentivize debt reduction and elimination. Upon completion of this Module, you will: - Stress the difference between debt management from credit building, while emphasizing the importance of both. - Learn strategies for managing debt with an eye towards credit building. - Get current on changes in the industry that impact consumers directly.
- Module 5 Introduction: Deal with Debt
- Lesson 1: Debt and Credit Building
- Lesson 2: Tackle Low-hanging fruit
- Lesson 3: Prioritize Debts with Credit Building In Mind
- Lesson 4: Understanding the Date of First Delinquency
- Lesson 5: Balancing Credit Goals with Financial Stability
- Lesson 6: Collections and Credit Building
- Module 5: Practice Your Skills
- Lesson 7: Consumer protections around debt and credit reporting
- MODULE 5 Wrap-up
Credit building does not happen overnight; it takes time and dedication. And, most importantly it is not an end in and of itself. Credit building is important because it helps individuals and families achieve their financial and other goals. Upon completion of this Module, you will: - Celebrate credit scores as a valuable tool that recognize their limitations as the sole measure of client credit building success. - Appreciate the importance of helping clients translate Credit Building success into financial and other goal gains. -Understand CBA’s Credit Strength Framework © for enhancing/ creating credit building programs and measuring client Credit Building success.