CredAbility

Target demographics: Low- to moderate-income people/ families

Direct beneficiaries per year: We helped more than 440,000 individuals and families—one of the highest totals in our agency’s 47-year history. More than 80,000 homeowners from all 50 states turned to us for fore-closure prevention counseling, and our research shows that approximately 70% of those families will stay in their homes.

Geographic areas served: North Georgia, Central Florida and the Golf Coast, East Tennesse, Central Mississippi, Palm Beach County and the Treasure Coast of Florida, Upstate South Carolina

Programs: Credit counseling and financial education:during 2014, clearpoint, through its branch network of financial specialists, conducted nearly 37,000 credit counseling sessions. These no-cost counseling sessions were conducted in person, by telephone, and via the internet and are offered to any person in need of financial assistance. Hispanic centers for excellenceone of clearpoint's emerging markets and services is the work done by our hispanic centers for financial excellence (hcfe). Hcfe's provide relation-based, long-term financial literacy support in low-to-moderate income hispanic communities. Unlike most of clearpoint's traditional crisis-based counseling (foreclosure prevention, debt management programs, etc. ), this innovative program focuses on helping consumers accomplish proactive goal-based objectives. Key goals outlined by hcfe consumers include starting a business, buying a car, understanding the us banking system, building/establishing credit, saving for college, budgeting, establishing savings, eliminating debt and learning about retirement options. These newly opened grant funded centers, servicing the atlanta, ga and miami, fl markets, serviced a total of 837 families during 2014, with more expected in 2015. Bankruptcy counseling & education:clearpoint is authorized by the executive office of us trustees (eoust) to provide counseling and education, as required by congress, to those filing for personal bankruptcy protection. Clearpoint counselors evaluate each client's personal financial situation, educates the client on alternatives to bankruptcy and helps each client create a personal budget plan that meets his/her financial resources and needs. In pre-discharge bankruptcy education, courses are taught covering such topics as: setting realistic financial goals; how to read your credit report; obtaining or re-establishing credit; managing budgets and more. 27,654 individuals were served during 2014 for bankruptcy counseling and education.

housing counseling:pre-purchase housing counselinglender and local government sponsored counseling provided to help consumers understand the process and prepare to achieve and maintain homeownership. Pre-purchase counseling has been demonstrated to be an effective tool in reducing future mortgage delinquencies and foreclosures. In 2014, clearpoint provided this service to 3,257 potential new homeowners. Early intervention housing counselinggovernment-sponsored enterprise and mortgage servicers provide referrals for homeowners who are past due on their mortgage payments. Outreach and counseling are provided at no charge to consumers with the goal of reaching homeowners to assess their financial situation, provide counseling and education, and assistance communicating with their loan servicers if needed before delinquency spirals out of control and results in foreclosure. During 2014, 1,842 full counseling sessions conducted. Foreclosure preventionclearpoint staff provide information, counseling and work with consumers and servicers to help homeowners avoid foreclosure and maintain home ownership. During 2014, clearpoint assisted over 27,000 homeowners in avoiding foreclosure. Post-loan modification counselingclearpoint counselors provide ongoing financial coaching to homeowners who have received a loan modification. Homeowners are referred by a government sponsored enterprise or mortgage servicers. Service is provided free of charge to the homeowners. Counselors meet with the homeowner several times over the first year of the modification, helping with budgeting, credit management and educational advice designed to address any lingering budgetary issues and improve likelihood of successful homeownership going forward. Clearpoint provided this service to 7,067 homeowners during 2014. Reverse mortgagehecm certified counselors provide clear, objective advice about reverse mortgage products, costs, fees and personal budgets to seniors and often the family members assisting them so that they make sound decisions on the equity of their home for both their short and long term situations. In addition, counslors provided guidance to seniors at risk of foreclosure due to unpaid property taxes or insurance on property leveraged by a reverse mortgage. Counselors help find additional resources and improve afforability, allowing seniors to repay delinquencies and remain in their home. Clearpoint's counselors served over 8,300 seniors in 2014.

education and outreachclearpoint conducted 1,079 in-person education seminars and workshops with over 13,000 attendees during 2014. In addition, clearpoint employees participated in 276 community outreach events, meeting with over 10,500 consumers. Reaching out to groups in the communities we serve, clearpoint helps clients identify and avoid financial problems and provides guidance on how best to handle these issues. Clearpoint expanded its reach with the online personalized learning program (plp), with over 4,000 new registered users completing nearly 1,900 learning modules in 2014. This financial education resource is designed to help consumers enhance their capability 24 hours a day, 7 days a week in a secured online environment. Through the plp, consumers can access elearning courses and additional supportive resources, identify and track their learning and progress towards financial goals and milestones, maintain online financial journals, connect with other learners and clearpoint counselors, and develop personalized action plans for success. Clearpoint's websites are visited by over 100k consumers every month, including 15k new users to our budget calculator and 30k to our blog. We provide a wide range of useful, interactive financial education content designed to help people address financial challenges and improve their personal situation. Clearpoint is also active on all major social networks, engaging consumers and encouraging them to talk about money. Posts to our facebook, twitter, google+, pinterest and yelp profiles enjoy thousands of views, likes, comments and shares, and our youtube videos get hundreds of thousands of views a year. In 2014, these videos and public service messages not only provide timely, impactful and entertaining education to the public, but also highlighted the creative nature of our team. Many have won various awards recognizing them for their impact and excellence in their online messaging. Clearpoint continues to be highly visible in the national media, appearing in over 500 media stories and we've conducted phone banks in multiple markets where counselors were on hand to provide advice to consumers. Our online and video tips at bbb. Org are visited by thousands of consumers each year. Our life after debt campaign gathered thousands of personal stories from consumers across the country through 2014.

on december 31, 2013 consumer credit counseling service of greater atlanta, (fka credability), acquired the net assets of clearpoint financial solutions, inc. No consideration was exchanged in the transaction. Under fasb's guidance for not-for-profit mergers and acquisitions, the transactionqualified as an acquisition of clearpoint financial solutions by credability. Therefore,the fair values of the assets acquired and the liabilities assumed were recorded as of december 31, 2013 and the excess of the assets over the liabilities of $18,958,648 was recorded as non-operating revenue on the statement of activities. Costs of $1,643,610 and $1,949,987 for the years ended december 31, 2014 and 2013, respectively, associated with the acquisition and restructuring are recorded as non-operating expenses on the statements of activities. These costs consistprimarily of one-time termination benefits, accelerated recovery ofcosts of capital expenditures, and legal and insurance expenses. Upon merger, the dba of consumer credit counseling service of greater atlanta was changed to clearpoint financial solutions.