Building Stronger Financial HabitsMs. Gillespie is employed by the City of Memphis and was referred to GMFEC by her father. She wanted to work on improving her credit score. Through her diligence and hard work, she has increased her credit score by a total of 26 points. Ms. Gillespie has a strong testimony that using the financial tools that she learned about during her financial counseling sessions has helped her family become more financially
stable. She states, “Since I’ve been in the GMFEC program, I’ve made significant strides in managing my finances. I’ve paid off multiple debts, including credit cards, and have learned how to communicate with creditors about the hardships I’ve been facing, rather than avoiding them. I’ve been proactive in reaching out, setting up payment arrangements, and sticking to those agreements to honor my commitments. |
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“Additionally, I’ve taken steps to improve my financial stability by opening a business account with Truist and a savings account with Memphis City Credit Union. I’m proud to say that I’ve made a point to not touch my savings, and since joining the program, I haven’t opened any new debit accounts.
“These changes have been a big part of my growth, and I’m grateful for the tools and support the Program has provided to help me stay on track.”
“These changes have been a big part of my growth, and I’m grateful for the tools and support the Program has provided to help me stay on track.”
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A Clear Plan and Real Progress
Mr. Foster, an Operations Manager at NIKE, discovered the Greater Memphis Financial Empowerment Center (GMFEC) while searching online for financial resources. His goals were to reduce debt, improve his credit score, and prepare to purchase a condominium while planning for retirement. With the support of a GMFEC financial counselor, Mr. Foster has increased his credit score by 83 points and reduced his non-mortgage debt by more than $7,000. He says that regular meetings with his counselor help him stay focused and motivated. “Meeting regularly with my financial counselor has given me a sense of direction and keeps me focused on my goals. Now that I can see what I have accomplished, I realize reaching my financial goals is not as hard as I once thought.” In his spare time, Mr. Foster enjoys cooking and grilling and looks forward to the day when he can host friends and family in a home of his own. |
Preparation, Patience, and Progress:
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Building a future for her family
Keosha, an Assistant Manager at the Internal Revenue Service, and single mother of three children, first found out about eater Memphis Financial Empowerment Center (GMFEC) from a community partner. GMFEC is a program of RISE Memphis and the Shelby County Trustee’s Office, which provides free one-on-one financial counseling to Shelby County residents, regardless of income.
Before entering the program, Keosha wanted to become a homeowner, but had not thought much about her spending and savings habits. Now that she is working with a financial counselor, she has focused more on budgeting and saving. Keosha says, “My financial counselor has been great! She has motivated me to stay focused and continue to work on my plan to pay down debt. First, I started paying off the smaller debts, then worked my way up to paying off larger debts. In addition, my financial counselor has connected me to other resources and services in the community, which has been
extremely helpful.”
Keosha’s dream of becoming a homeowner finally came true in July 2023. Her family now have a place that they can call home, where the children can play, grow, and build memories in a safe environment. Although Keosha has realized her dream of homeownership, she plans to continue to use the financial tools that she has learned as a client of GMFEC to stay financially fit.
In her spare time, Keosha loves to listen to music, read novels and watch Hallmark movies.
Before entering the program, Keosha wanted to become a homeowner, but had not thought much about her spending and savings habits. Now that she is working with a financial counselor, she has focused more on budgeting and saving. Keosha says, “My financial counselor has been great! She has motivated me to stay focused and continue to work on my plan to pay down debt. First, I started paying off the smaller debts, then worked my way up to paying off larger debts. In addition, my financial counselor has connected me to other resources and services in the community, which has been
extremely helpful.”
Keosha’s dream of becoming a homeowner finally came true in July 2023. Her family now have a place that they can call home, where the children can play, grow, and build memories in a safe environment. Although Keosha has realized her dream of homeownership, she plans to continue to use the financial tools that she has learned as a client of GMFEC to stay financially fit.
In her spare time, Keosha loves to listen to music, read novels and watch Hallmark movies.
Financial Counseling Without Judgement Brings Clarity to Client's Spending Habits
During the initial financial counseling session, the client expressed difficulty managing discretionary spending, particularly on clothing and footwear. As the conversation progressed, the financial counselor skillfully guided her to explore the emotional drivers behind these spending habits.
With compassionate support, the client began to reflect on her upbringing and the material limitations she experienced as a child. This introspection led to a profound realization: her financial behavior was, in part, an attempt to compensate for past deprivation by providing her daughter with everything she herself had lacked.
This moment of insight marked a pivotal turning point. The client felt safe, heard, and validated. With the counselor’s guidance, she began to understand the connection between emotional needs and financial decisions, recognizing that meaningful change begins with self-compassion and clarity.
This foundational session laid the groundwork for a more intentional and restorative approach to financial well-being—one rooted not in guilt, but in personal growth and healing.
During the initial financial counseling session, the client expressed difficulty managing discretionary spending, particularly on clothing and footwear. As the conversation progressed, the financial counselor skillfully guided her to explore the emotional drivers behind these spending habits.
With compassionate support, the client began to reflect on her upbringing and the material limitations she experienced as a child. This introspection led to a profound realization: her financial behavior was, in part, an attempt to compensate for past deprivation by providing her daughter with everything she herself had lacked.
This moment of insight marked a pivotal turning point. The client felt safe, heard, and validated. With the counselor’s guidance, she began to understand the connection between emotional needs and financial decisions, recognizing that meaningful change begins with self-compassion and clarity.
This foundational session laid the groundwork for a more intentional and restorative approach to financial well-being—one rooted not in guilt, but in personal growth and healing.
87 Points in 90 Days: Lisa’s Credit Transformation
Lisa reached out to GMFEC after tuning in to a News Channel 3 interview with the program's Operations Manager. While explaining the free financial services that GMFEC provides to all adults residing in Shelby County, the GMFEC Operations Manager mentioned that their certified financial counselors offer to help clients build their credit. At the time, Lisa felt "stuck," as if her efforts to improve her credit had been in vain. So, she picked up the phone and booked an appointment.
When Lisa enrolled, her goals were to improve her credit and save enough money to purchase a house. She was tired of picking up and moving every year, and she wanted a home near her current rental so that her children would not have to transfer schools.
As ready as Lisa was to settle down, she knew that she had to work hard on her current financial situation before anyone would approve her for a mortgage loan. And work hard she has! With the guidance of her GMFEC financial counselor, Lisa has cleared 3 delinquent accounts, lowered her credit utilization from 105% to 32%, and raised her credit score by 87 points; all in less than 3 months! Additionally, Lisa says she has gained credit knowledge and feels more confident in her own ability to maintain good credit in the future. She says, “When I first came to GMFEC, I felt defeated. I was putting in so much effort to pay down my debt, but nothing I did seemed to make a difference. After following the credit plan that my counselor and I created together, I am finally seeing the results I have been hoping for.”
When asked about the most important lesson she has learned so far, Lisa said, “Things are not always as they seem. My counselor has taught me to believe in myself, and to remember that no matter what, there is always still hope. It can feel embarrassing to share personal financial information with someone else, but she has made me feel comfortable sharing that information with her. I appreciate her patience, professionalism, and overall support.”
Lisa is a single mother of five. You will regularly find her supporting her children on the sidelines of their basketball, football, and baseball games. When she has time to herself, Lisa enjoys bowling and watching crime dramas like Law & Order or FBI. If her first three months with GMFEC are indicative of her continued commitment toward financial health and stability, she will no doubt continue to achieve her goals.
When Lisa enrolled, her goals were to improve her credit and save enough money to purchase a house. She was tired of picking up and moving every year, and she wanted a home near her current rental so that her children would not have to transfer schools.
As ready as Lisa was to settle down, she knew that she had to work hard on her current financial situation before anyone would approve her for a mortgage loan. And work hard she has! With the guidance of her GMFEC financial counselor, Lisa has cleared 3 delinquent accounts, lowered her credit utilization from 105% to 32%, and raised her credit score by 87 points; all in less than 3 months! Additionally, Lisa says she has gained credit knowledge and feels more confident in her own ability to maintain good credit in the future. She says, “When I first came to GMFEC, I felt defeated. I was putting in so much effort to pay down my debt, but nothing I did seemed to make a difference. After following the credit plan that my counselor and I created together, I am finally seeing the results I have been hoping for.”
When asked about the most important lesson she has learned so far, Lisa said, “Things are not always as they seem. My counselor has taught me to believe in myself, and to remember that no matter what, there is always still hope. It can feel embarrassing to share personal financial information with someone else, but she has made me feel comfortable sharing that information with her. I appreciate her patience, professionalism, and overall support.”
Lisa is a single mother of five. You will regularly find her supporting her children on the sidelines of their basketball, football, and baseball games. When she has time to herself, Lisa enjoys bowling and watching crime dramas like Law & Order or FBI. If her first three months with GMFEC are indicative of her continued commitment toward financial health and stability, she will no doubt continue to achieve her goals.