Prince William Area Financial Education Program

1. The Agent as CEO Prince William Area Financial Education Program Joe Botta January 18, 2007

2. Evaluate You “Know Thyself”CEO Continuum Leadership Management Strong Weak Interpersonal Organization & Planning Results Orientation

3. Earn Credentials Be An Expert • HUD Certified Housing Counseling Agency • Virginia Housing Development Authority Certified Training Agency • Association for Financial Counseling and Planning Education (AFCPE) • Accredited Financial Counselors • Certified Housing Counselors • Virginia Assn of Housing Counselors Certified Counselor

4. Know Your World Know How You Fit Board of County Supervisors/ County Executive VA Tech & VA State CSREES – U.S. Dept of Agriculture “Cooperative State Research, Education, & Extension Service” Cooperative Extension Prince William Office Extension Leadership Council

5. Know Your Mission Write Your Mission Statement To educate clients on personal financial management skills so that they will: • avoid financial problems, • live within their means, • maintain stable housing • and provide for themselves through retirement; and to support and counsel clients in financial trouble so that they will take the necessary actions to achieve financial stability. “Prevention & Intervention”

6. Financial Management From Cradle to Grave… Push Your Vision Start

7. We Deliver Counseling & education on most any housing or personal finance topic Quality services with a proven track record University level knowledge based on research A program that can be replicated elsewhere We Seek To provide financial literacy and housing education & counseling To obtain multi-year funding support from continuing partnerships Provide & Seek What Are You Selling? We sell wealth building.

8. Why Are Why Are You Selling It? Determine Need • Situation Analysis • County Comprehensive Plan • Driven by funding source

9. Identify Your Resources What Do You Have to Work With? • Three Full Time Staff • (one bilingual) • Two Part Time Staff • Federal, State & Local Funding …and over 50 volunteers (some bilingual)

10. Cultivate Partners Have “Friends” • PWC Office of Housing • U.S. Department of HUD • Manassas Housing Trust Fund • Prince William Police & Fire Departments • Freddie Mac • Prince William County Public Schools • U.S. Internal Revenue Service • Department of Social Services • Non Profits & For Profits

11. Analyze Your Funding Sources of Funds Freddie Mac HUD 9% 11% PWC Housing 42% Personal Finance 35% (Fees .4%) Housing 65% PWC 35% MHTF 3% Total $268,329

12. Track Results Results Outputs • 420 Families • 145 Workshops • 1,767 Participants • “79” Volunteers & 1,401 Volunteer Hours Outcomes • 30% Buy Home Within One Year (48 of 161) • 100% of Mortgage Default Don’t go to Foreclosure (67 of 67) • 84% Report Adopting Sound Spending Plan • 91% Report Maintaining Economic Stability

13. Know Your Stats Use Charts & Graphs Completing Financial Assessment Don’t Lose Home to Foreclosure Note – Assessments reflect # of families

14. Deal With Change Look Ahead for New Opportunities • Predatory Lending • PWC interest • 9 Pay Day lenders with 22 offices in the Prince William/Manassas area • Potential for HUD funding • Reverse Mortgages • Increase in aging population • Mortgage Defaults • Housing market changes • Free Tax Prep

15. An Approach to “CEO-ness” 1. Evaluate You 7. Determine Need 8. Identify Your Resources 2. Be an Expert 3. Know Your World 9. Cultivate Partners 4. Know Your Mission 10. Analyze Your Funding 5. Push Your Vision 11. Track Results 6. Provide & Seek 12. Know Your Stats 13. Deal With Change