BURNSVILLE, Minn.–Firefly Credit Union is reporting its relationship with a local financial counseling service has now led to nearly $4 million in consumer debt having been paid off over the past decade.
Firefly has teamed on financial education and counseling services through Lutheran Social Service (LSS) on what is known as The Financial Choice partnership, which offers financial education seminars along with enhanced counseling services including budget counseling, credit report reviews, checking account management skills and more to Firefly members and their families.
Minnesota-based LSS Financial Counseling is one of the state's largest nonprofit providers of full-service, community-based financial counseling, the credit union said.
Firefly reported LSS Financial Counseling works with members on debt management and improving budgets, thereby lowering household costs and allowing members to get out of delinquency and avoid default or bankruptcy. According to Firefly, since the beginning of the partnership in January of 2007, LSS Financial Counseling has helped nearly 200 members. Over the past decade, these members have collectively paid off $3,828,446 in debt through the Debt Management Program.
Up to Six Sessions Per Year
Firefly said members are offered up to six sessions per year of financial counseling at no charge, and are guaranteed priority access. In addition to phone and online counseling, members are offered in-person appointments within three business days.
“We take pride in helping our members succeed financially,” said Dale Turner, Firefly Credit Union president/CEO. “Our partnership with LSS Financial Counseling provides our members with a resource that can help prevent a financial hardship from turning into a crisis.”