United Way of Summit and Medina sets goal to financial empower 2,500 county residents

MEDINA — United Way of Summit and Medina is working toward financially empowering 2,500 residents within Medina County through its Financial Empowerment Center. The Financial Empowerment Center helps both Medina County residents and Summit County residents build financial stability through provided resources with several programs offered by United Way of Summit and Medina. Paul Khacherian, United Way's associate vice president for Medina County, said the Financial Empowerment Center began approximately four years ago through a partnership between the United Way and the city of Akron to provide free financial coaching to Summit County residents in need. The program has since expanded with several ways to assist those in need, including the Volunteer Income Tax Assistance Program, which provides households that have an income under $60,000 with free tax preparation services. Since Medina merged with United Way of Summit County in July 2020, the Financial Empowerment Center's programs are also available for Medina County residents to use. Through United Way, residents can work one-on-one with a financial coach to help create a budget, set goals, reduce debt and improve their credit scores. Khacherian said a financial coach will be based within the Medina County office, 23 Public Square Suite L-1, starting in February to help Medina County residents. In addition, residents can talk with a financial coach virtually, speak with them over the phone or meet them at one of the partner locations such as Medina County Jobs and Family Services or the Medina County Office for Older Adults. Medina County residents can also benefit from United Way's Bank On program, which promotes banks that provide free or reduced-cost checking and savings accounts for people needing to create a bank account. "(It's) to make having a healthy banking relationship something that people can reach and attain," Khacherian said. Khacherian said about 26 percent of people in Medina County live in poverty or are living paycheck-to-paycheck. In the city of Medina specifically, the number of people living in poverty or paycheck-to-paycheck jumps to 35 percent. "While we target those that are low- to moderate-wage earners and the people who can really benefit from the tools to become more financially stable, there's no income restriction for this program," Khacherian said. With United Way's goal to financially empower 2,500 Medina County residents, Khacherian looked back on the past four years within Summit County and the program's success. Khacherian said more than 3,200 Summit County residents are on the path to financial empowerment and almost 8,700 one-on-one financial coaching sessions have been held. "This happened in four years in Summit County," Khacherian said. "I am confident that we can have these same types of results here in Medina and throughout the county." To learn more about the services offered, visit uwsummitmedina.org. Contact reporter Sara Crawford at (330) 721-4063 or scrawford@medina-gazette.com.