December 19, 2022
Source: WAVE News (Kentucky)
Louisville Metro Government is expanding free financial counseling services for residents with disabilities.
The Louisville [Kentucky] Metro Office of Resilience and Community Services announced a new collaboration with the National Disability Institute on Monday.
Louisville was one of two cities nationwide to be selected by the National Disability Institute to participate in a new Financial Health Equity initiative. This initiative will focus on helping people with disabilities with budget management, better understanding Supplemental Security Income or Social Security Disability Insurance benefits, tackling Social Security Administration overpayments and transitioning to work, according to a release.
“People with disabilities are often forced to make unique financial decisions to achieve financial stability and independence,” Mayor Greg Fischer said in the release. “It is our responsibility to ensure that every resident in our city has equitable access and opportunity to improve their financial health. We’re grateful to National Disability Institute’s new Financial Health Equity initiative for helping to build the capacity and knowledge of our service providers so they are better equipped to serve residents with all types of abilities.”
More than 20 Financial Health Equity financial counselors, coaches and other service providers in the Louisville area have done over 20 hours of specialized training in financial counseling for people receiving Social Security disability benefits. There will also be team members with the Louisville Metro Office of Resilience and Community Services’ Office of Financial Empowerment, FHE financial counselors and coaches at the new Financial Empowerment Center in Louisville and Apprisen, the non-profit organization providing financial services.
“People with disabilities face significant barriers to financial stability, including low or unstable income, lack of savings and the extra costs of living with a disability. Financial decisions can often be further complicated by interactions with and dependence on public benefits that require limited income and assets to remain eligible,” National Disability Institute Executive Director Thomas Foley said in the release. “Financial counseling plays a key role to help individuals with disabilities develop financial strategies to achieve improved financial health. We value the partnership we have built with RCs over these past years and are excited about this new collaboration.”