Transformance Debuts to Promote Financial Literacy

Press Release

Former Consumer Credit Counseling Service of Greater Dallas Assumes Updated Name, Message and Goals

 

DALLAS, TX (Oct. 1, 2015) — The 41-year old Consumer Credit Counseling Service (CCCS) of Greater Dallas has a new name—Transformance, Inc.—and an updated mission to tackle a persistent problem impacting our community and economy.

 

Changes in consumer lending, investment planning and company pension practices are increasingly shifting the burden of financial planning onto the shoulders of the individual. A thriving economy is predicated on the rationale that members of the community are equipped with the knowledge and tools necessary to know how much to save, invest and borrow in order to prosper financially. Lack of solid financial knowledge often translates into poor borrowing and spending habits, while future-oriented behaviors such as investing and saving are diminished or forgotten. The resulting impact of lower credit scores, higher borrowing costs and increased dependence on emergency funding can trap families and even entire communities into cycles of poverty.

 

The statistics are alarming. According to the Corporation for Enterprise Development (CFED), a full 56 percent of the U.S. population has subprime credit scores. Another 44 percent of families live in “liquid asset poverty.” Generationally speaking, the news is even worse, with 85 percent of Millennials carrying an average of $60,000 in debt.

 

As a nonprofit organization built on a solid foundation of financial education, CCCS has empowered over 1.7 million individuals to transition out of financial crisis through education, one-to-one certified counseling and coaching support services. Determined to make an even bigger impact on local areas, Transformance has begun expanding its portfolio of services with the vision of building financially stable and sustainable communities. To further its mission, Transformance™ is innovating for the future by expanding its learning platforms, investing in technology and building strategic partnerships to turn the vision into reality.

 

“Consumer Credit Counseling Service of Greater Dallas represents where we were, but Transformance represents where we are going,” said President and CEO Ken Goodgames. “We’re adapting our strategies and tactics to reflect changing conditions and our commitment to promoting lifelong economic education through a host of innovative programs and platforms. Crisis counseling will continue to be a core component of our programs and services as long as there is a need in our community. But we understand that transformational learning focused on prevention is necessary to enable families and communities to thrive and prosper long term.”

 

To broaden its portfolio of services and provide more support for those who need it, Transformance is creating a new e-learning platform featuring gamified learning designed to promote financial resiliency and drive long-term behavior changes that have measurable impact for the communities it serves. “Our new name,” says Goodgames, “is derived from three words—transform, finance and performance. Transformance represents our vision of offering transformational financial learning that meets people where they are in their financial journey and helps them transform their financial situation from poverty to prosperity.”

 

To help accomplish its goals, Transformance is seeking innovative new corporate partners, sponsors, community organizations and other businesses where both employees and members can benefit from targeted programs impacting the lifelong learning process of sound financial practices.

 

“If our families don’t thrive economically, they can’t support or impact the businesses inside their own communities,” said Goodgames. “This is a pressing issue, and we are dedicated to bringing together the right stakeholders to accomplish the mission. We want to promote transformational learning programs that build a true foundation of financial knowledge.”

 

To find out how to team up with Transformance and become a part of the financial literacy solution, call (800) 249-2227 or visit www.transformanceusa.org.

 

About Transformance™

Established in 1974 and formerly known as Consumer Credit Counseling Service of Greater Dallas, Transformance, Inc. is a nonprofit organization that has served as a beacon of hope for consumers facing a financial crisis with respect to credit and debt management, budgeting, mortgages and/or student loans. As a HUD-approved housing counseling agency, Transformance™ has served a nationwide client base from its offices in Texas and Colorado. The agency seeks to continue its traditional crisis counseling and instructor-led educational offerings while launching a portfolio of multi-platform, e-learning offerings designed to promote financial resiliency and wealth accumulation through informed decision making and long-term behavior modification. The Transformance suite of financial learning products, including e-learning, is designed to have a sustainable, measurable impact with the potential to reach 10 million consumers.

 

Contact:

Jeffrey Cheatham

TrizCom PR

(972) 247-1369

jeffc@trizcom.com

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