Managing life's challenging turns:
WECO Fund
Disclaimer: In compliance with the Health Insurance Portability and Accountability Act of 1996, all stories about specific individuals are told with their express written informed consent.
Sometimes, you can do everything right, and still end up in a really difficult situation. Sometimes, in those instances, you need help to turn your life around. Such is the case with Karen.
An Ohio Military Reserve volunteer member, Karen is a strong, disciplined individual with a firm belief in doing what is right. For years, she worked as an office manager for a real estate property management company, where she received housing as part of her employment. When she raised questions for which her employer could not provide a satisfactory response, she found herself without a job and without a home.
WECO (Wealth, Education,
Collaboration, Opportunity) Fund, Inc. provides financial services and programs
to low to moderate income individuals, 
families
and small businesses with the goal of helping them achieve financial self-sufficiency.
Through partnerships with other community agencies (including Laura’s
Home Women’s Crisis Center, the women’s shelter of the City
Mission, where Karen came to stay temporarily in 2008), WECO has been
able to expand its services to educate people on budgeting and addressing
credit issues. While at Laura’s Home, Karen worked doing cleaning and kitchen
chores, and participated in classes including English grammar, computer science,
job readiness, resume writing, and basic financial education.
Esther Holtwick, Director of
Financial Education at WECO, 
worked
with Karen during class, and during weekly one-on-one financial coaching
sessions. “Esther pulled my credit report, and helped me identify debts I
didn’t even know I had,” said Karen. “She then worked with me to develop
a budget for my Social Security income, and implement a plan to reduce my
debts – we decided to start with paying off the smallest debts first, and
then I began making monthly payments to reduce the largest debt. That started
out at $6,000, and I’m now down to the last $1,000.”
A return to independence
As her confidence returned, Karen began to help others at Laura’s Home to develop budgets. She worked in the computer lab, and converted one of Esther’s budget forms into an Excel spreadsheet that incorporates actual calculations.
Karen is once again gainfully employed, managing a 27-unit apartment building, where her apartment is part of her compensation. She remains an active member of the Ohio Military Guard, working as a volunteer instructor teaching orientation and refresher courses. And her firm belief in doing what is right remains unchanged. “You have to know when to ask for help, when to stand on your own, and how not to be a burden. You have to work through your hard times, and not make excuses,” she said.
