United Way of Monroe County Partners with German American Bank to Expand Financial Coaching in the Region

As part of their ongoing efforts to increase the financial stability of residents in Monroe, Greene, and Owen counties, United Way of Monroe County is partnering with German American Bank to expand their Financial Coaching program. Now in its fourth year, the Financial Coaching program has proven effective at increasing the financial security of participating households year after year. In light of the program’s success, German American Bank is sponsoring another cohort of participants with a commitment of $10,000 in program funding for 2022.

The Financial Coaching program pairs individuals with a professional financial coach from Apprisen, a non-profit organization with over 65 years of experience helping people improve their financial well-being. Over the course of twelve months, participants receive instruction in budgeting, debt management, and more — all tailored to their personal financial situation and goals.  
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Since United Way and German American Bank first partnered in 2018, the Financial Coaching program has helped participants save a total of $124,946 by paying off debt and increasing personal savings. On average, participants pay off $2,629 in debt and save over $2,000, all while increasing their financial confidence. These savings have allowed participants to weather medical bills, improve their credit score, qualify for a mortgage, make costly home repairs, and in some cases, avoid eviction.

As part of this year’s plans, United Way and German American Bank have an ambitious goal in mind: increasing homeownership and improving housing stability in the region. This complements United Way’s broader efforts, including the recent Heading Home initiative, to address homelessness and housing security in south-central Indiana.
“We are so grateful for the continued support from German American Bank to expand this impactful, results-driven financial stability initiative. We are excited for the opportunity to help so many more community members gain confidence and skills in money management, and improve their overall financial health,” said Amy Leyenbeck, Community Impact Director for United Way of Monroe County.  

“German American Bank is proud to partner with United Way in providing local employees and their families the financial tools needed to help them achieve their specific financial goals,” said Cindy Kinnarney, German American Bank’s Regional President.  

The two organizations will also be working with area employers to promote the Financial Coaching program as an employment benefit. As a result, United Way hopes to broaden the program’s reach and increase the overall financial stability of the region, all while helping employers attract and retain talent.  
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The next twelve-month cohort will begin in May 2022. This program is free to participants thanks to generous support from German American Bank. To learn more about the Financial Coaching program or to sign up, visit www.monroeunitedway.org/financialcoaching. If you are an employer who would like to offer this benefit to your employees, contact Amy Leyenbeck at amy@monroeunitedway.org.