How SparkPoint Oakland Changes Lives
Let’s talk money!
Fun fact #1: EBALDC has been providing financial services to our residents and community members for nearly 20 years!
Fun fact #2: EBALDC, through our volunteer network, has distributed $25 MILLION back to the community since 2003, when we opened our first Volunteer Income Tax Assistance (VITA) program. In 2018, EBALDC was named a National VITA Savings Champion Site for promoting savings at tax time.
Fun fact #3: Along with the United Way Bay Area, EBALDC opened its first financial services center – SparkPoint – in 2009. There are now 23 SparkPoint Centers in the East Bay! EBALDC has been lead agency for SparkPoint Oakland (SPO) since 2016.
EBALDC’s financial services work is an essential pillar of our work towards our vision of and Oakland and East Bay where everyone has a place to not only have a home, but to also thrive on their own terms. Services are client-centered, where they develop their own goals and our financial advisors provide guidance and resources. Last year, SPO helped over 1500 households with finding new jobs, building credit, improving finances, preparing taxes and preventing eviction.
One of our clients is Lorena Arechiga-Pelayo:
When did you first come to EBALDC and SparkPoint Oakland? I started coming to SparkPoint in 2017 when I got a flyer from the shelter I was living at the time, A Safe Place, in Oakland.
What was your financial situation then? When I first started meeting with Carmen, my financial advisor, I was $25,000 in credit card debt. I also had a significant medical collection that I was able to negotiate down with the help of Carmen.
What goals did you create for yourself? I wanted to administer my finances better, get out of debt, and buy a place I could call home.
Which aspects of SPO services did you find the most helpful? I found the checking of my credit report was a major service; it helped me stay on top and helped me with the journey to become a homeowner. My scheduled check-ins with Carmen helped me make sure I was following through. I also enjoyed the match-savings account that motivated me to continue with my savings goal.
How are you doing now? I am doing well. I am now debt-free. I finished my Associate degree in child development, and am working towards my Bachelor’s degree at Cal State Hayward. And I finally became a homeowner!
What are your plans for the holidays? Be grateful for all the blessings in my life, spend time with family, and work.
And speaking of money, please consider donating to our End-of-Year Campaign and join EBALDC in building Healthy Neighborhoods.