Money Management International Success Story

Nov 15, 2018 | Community, Education

Financial hardship is a plight facing many across the country, and our local communities are no exception. Credit card debt, budgeting issues, home foreclosures, etc. are threatening your friends, neighbors, family, and maybe even yourself. It is an overwhelming and emotional adversary to address, but not one that has to be challenged alone. Guilford Savings Bank has partnered with Money Management International, one of the most accessible nonprofit credit counseling agencies in the county, to provide help its customers and all community residents.


Recently, a long-time GSB customer approached one of our team members in desperation. Samantha*, a local senior enjoying her retirement, was taken advantage of by a family member. The emergency credit card she had provided became the go-to money source for online shopping and dinner with friends. Quickly, thousands of dollars of debt accumulated and Samantha was overwhelmed with credit card payments that she couldn’t make. Samantha felt hopelessly overwhelmed and feared she’d lose her retirement savings trying to pay off her bills. Not knowing where else to turn, Samantha asked her GSB Universal Banker for help, who then referred her to Renee Pallenberg, SVP, Director of Marketing & Cash Management. 


Renee told Samantha about Money Management International and offered to go through the confidential counseling process with her. Samantha began regular sessions and worked with her counselor to negotiate with the credit card companies to reduce her payments and develop a plan to entirely eliminate the debt in 5 years. What began as a seemingly endless problem is now a reachable goal and Samantha could not be more relieved.


Money Management International is a reliable resource to anyone struggling with their finances. They offer confidential in-person counseling, 24/7 phone line, live chat, online classes, and free webinars. MMI offers assistance with a number of problems, such as avoiding home foreclosure, repaying student loans and credit card debt. They also can help prevent future difficulties by assisting with establishing a budget or planning to buy a home. Many of their services are free, with more in-depth counseling sessions offered at a rate adjusted to income levels. Money Management International is an excellent resource for anyone looking to learn more about handling their finances, regardless of their financial status.


To learn more visit Money Management International


*Name has been changed to protect privacy


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