Ken Goodgames Chief Executive Officer Transformance

Ken Goodgames
Chief Executive Officer
Transformance
Cornerstone Credit Union
Foundation –
FOCUS Summit
MARCH 3, 2016
ABOUT TRANSFORMANCE
Learning & Development Solutions:
• From crisis counseling & community
outreach to financial learning &
innovation solutions
• Portfolio including multi-platform eLearning / m-learning offerings
Transformance is rapidly expanding
its learning platform, investing in
new technology, and building
collaborative partnerships to
provide breakthrough financial
learning solutions that help
transform lives.
• Promoting financial learning and better
decision-making, leading to long-term
behavior change and sustainable
outcomes
• 42 years of nonprofit service
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TRANSFORMANCE ECOSYSTEM
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MARKET PROBLEM
DALLAS
TEXAS
U.S.
68% of adults have
subprime credit scores
64% of adults have
subprime credit scores
54% of adults have
subprime credit scores
62% of households live
in liquid asset poverty
50% of households live
in liquid asset poverty
44% of households live
in liquid asset poverty
36% of households are
unbanked or
underbanked
37% of households are
unbanked or
underbanked
28% of households are
unbanked or
underbanked
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CAUSE AND EFFECT
Finances are still
the leading cause
of divorce in America.
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CAUSE AND EFFECT
A new GAO analysis finds that
among households with members
aged 55 or older, nearly 29 percent
have neither retirement savings
nor a traditional pension plan.
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CAUSE AND EFFECT
The average amount of student
loan debt is approaching $30,000,
according to a new report from the
Institute for College Access and
Success.
Meanwhile, the national student loan default rate
dropped to 13.7% in 2014 which is still ‘too high,’
according to Education Secretary Arne Duncan.
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CAUSE AND EFFECT
Underbanked consumers tend to rely upon non-bank
money orders, non-bank check cashing services, non-bank
remittances, payday loans, rent-to-own services, pawn
shops, or refund anticipation loans (RALs).
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TARGET MARKETS
Target Market Segments:
• Pocket Change provides basic financial
knowledge and skills to low and
moderate income households
• Curriculum targets younger working
adults: 18 – 34 ( 65% ); Ages 35 – 55 (
25% ); Ages 55+ ( 10% )
• Maximum impact in North Texas:
Greater Dallas ( 70% ); Texas (20% );
U.S. ( 10% )
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TARGET MARKETS
HIGH-NEED COMMUNITIES RELY ON SMARTPHONES, NOT PCs
• Communities of Color
• Female-Led Households
• Military Families & Veterans
• Young Adults / College Students
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ENTER POCKET CHANGE
Multi-Platform Solution for Developing Financial Capability:
 Features 24/7 Multi-Platform
Accessibility On-line or via Mobile App
 Experiential or Hands-on Learning has
the Greatest Long-Term Impact
 Meeting users where they are
 The “Fitbit” of financial literacy
 Connecting users to Financial
Coaching & Crisis Counseling
Resources
 Preventative vs Cure Learning
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INTRODUCING POCKET CHANGE
https://youtu.be/0bVM5U4I5Nc
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GAMES4CHANGE
Connecting people where they are to financial learning tools:
• Transformance & G4C Event - March 18, 2016
• Catalyst for innovative gamified financial learning
• Executive judge / employee participation available
• Courtner Moran – Co Chair of the event
• Challenge will include Financial & Tech Sector, plus
Academia, Employers, Independent Developers, etc.
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DELIVERING MEASUREABLE IMPACT
Partner with Us to Build Sustainable Communities:
• Building Greater Resiliency for Facing a Crisis
• Ending the Paycheck to Paycheck Mindset
• Helping to Create Pathways from Poverty
• Reducing Dependence on Predatory Lending Sources
• Improved Credit Scores and Reduced Indebtedness
• Increased Savings Rate / Proactive Retirement Planning
44% of Americans are Living in Asset Poverty, with Little or No Savings for a Rainy Day
- 2015 CFED Assets & Opportunity Scoreboard
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CENTER FOR SOCIAL INNOVATION
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FOR MORE INFORMATION
PLEASE CONTACT:
Ken Goodgames, President & Chief Executive Officer
kgoodgames@transformanceusa.org
Michael Webb, EVP, Chief External Affairs Officer
mwebb@transformanceusa.org
Daniel Prescott, Vice President, Fund Development
dprescott@transformanceusa.org
THANK YOU FOR YOUR TIME TODAY !
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