On November 17, Capital One Bank and Windsor Village United Methodist Church held a celebration to honor the first graduating class of the Debt Boot Camp: How to Get Out, Stay Out and Become Financially Fit!
The Debt Boot Camp is a free, first-of-its-kind program designed to walk participants through the process of becoming debt free and financially sound. This innovative, collaborative program is centered on a successful course study proven to help individuals and families eliminate debt long-term. Participants learn the importance of establishing savings while improving their credit.
Debt Boot Camp participants choose a six-month or 12-month track. In addition to obtaining access to premium personal financial education at no cost, those who register for the program receive free one-on-one confidential financial counseling from experts from Money Management International, as well as coaching from Capital One bankers.
Capital One Bank also offers participants the opportunity to open a no-fee savings account. Benefits offered by Capital One Bank’s partners in the program include Covenant Community Capital’s Individual Development Account, which features matching funds up to $4,000 for participants who meet income and other guideline qualifications, and an Estate Planning Package from Earl Carl Institute for those who qualify.
“Capital One Bank is pleased to sponsor the Debt Boot Camp in Houston,” said Annella Metoyer, Houston Market President for Capital One Bank. “Capital One Bank continuously invests in programs that help children, teens, and adults to increase their money management skills through participation in innovative, interactive learning opportunities. Our goal with the Debt Boot Camp and programs like it is to take the mystery out of managing money wisely and to set individuals of all ages on the path to a life of fiscal responsibility and economic self-reliance.”
“The Windsor Village Church Family in partnering with Capital One bank looks forward to offering a top notch, first-of-its-kind program to persons interested in improving their financial situations,” said Windsor Village Senior Pastor Kirbyjon Caldwell. “We cannot control what goods and services cost; however, we can control when we buy and whether we overpay for them. This program instructs and inspires participants to become and remain savvy consumers and investors.”
More than 60 participants in the six-month program graduated Nov. 17. On average, participating students saw an almost 100-point jump in their credit scores. “Our students have gone from a position of only being able to qualify for payday loans to being able to get credit to buy homes, cars and start businesses,” said Laurie Vignaud, Senior Vice President/Community Development Banking for Capital One Bank. “This has a very positive impact on the Houston economy.”
Participants in the 12-month class will graduate in May 2013.
The Debt Boot Camp is held at Windsor Village United Methodist Church, 6011 W. Orem, Houston, Texas 77085. Sessions take place on Mondays for the 12-month track and on Saturdays for the six-month track. For information about the Debt Boot Camp, call 713-726-2624.