Credit Counseling & Repair Workshop Curriculum
Date conversion 29.04.2016 Size 14.8 Kb.
The National Economics Department, NAACP
Financial Freedom Campaign
Total Workshop Time: 90mins
Purpose of workshop
Participants will understand how to establish good credit and its importance
Participants will learn that credit is a financial tool in wealth building
Participants will make informed banking and purchasing decisions
NAACP’s Financial Freedom Campaign’s mission/ goal(s) of implementing these programs:
To educate and empower
To serve as advocates
To build capacity
Benefits of attending this workshop
Access to accurate information
Opportunity to ask questions of an expert
Access to local and national resources
Opportunity to network with others
A credit spectrum will be drawn on the board. Participants will each be asked where they are currently on the spectrum, and their thoughts about why they think they are in the predicament that they are in.
The spectrum: A long time line with 4 tick marks, (1) Building a foundation, (2) Balancing good and bad credit decisions, (3) Rebuilding damaged credit , (4) Using credit to build personal wealth
Section I: Credit Fundamentals (15 mins)
Types of Credit
Understanding Financial Institutions
Credit Building V. Non Credit Building Institutions
Banks and Credit Unions: Defined, & why they are credit building
Alternative Finance Services: Defined, & why they are non-credit building
What is Predatory Lending?
Tips to avoid predatory lending
Activity: Fact or Fiction Quiz: Participants will answer a number of questions to decipher whether or not they are aware of the common myths/misconceptions of credit and to be exposed to little known facts about credit.
Section II: Credit Rating: Explored (15mins)
The U.S. Credit System Explained
How is it calculated?
How do everyday decisions impact your credit?
What is it used for?
What is a FICO score? How is it similar/ different from a credit score?
Are there other types of credit scores?
What is a credit report?
What are the three credit bureaus?
What’s included on this report?
How to dispute an incorrect item?
Racial Credit Score Disparities
Section III: Securing your future (15 mins)
Tips for establishing and maintain good credit
Understanding your credit rights as a consumer
Tips for deciphering credit scams
Links to a few trustworthy counseling resources
Activity: Self Assessment- Participants write down target Credit Score Goals and the steps they plan to take to achieve that goal
Ask the Expert (15 mins)
General Questions (not specific to individual cases)
Have people write down questions on a piece of paper, and have the expert answer a few of them
Thank everyone for their cooperation (including expert)
Remind people to complete the evaluation form
Ask people to take the folders home/and utilize information
Notes for Trainer 1 Hour 30 mins
Strategic use of credit can be beneficial to you
Credit can help you build wealth or increase debt
Reliable resources are available
By the End of this Workshop, participants will learn:
How to feel empowered at every state of the credit spectrum
Ways to properly assess one’s current financial state
Better understanding of how credit works
Ways to use credit to build personal wealth
Points to Stress:
Fact of Fiction Quiz on Credit
Sample Credit Report (group work)
What were your expectations of this workshop?
What new information have you learned?
Why is it important to understand the difference between credit building and non credit building institutions?
Materials & Preparation
Included in each folder:
PowerPoint Presentation Printout
Note pad for notes
Handouts (Resource information)
Workshop Evaluation Form
Expert ‘s Business Card
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