Since 2019, Wells Fargo has been a steadfast partner with the IRC to expand financial capability programming across the United States. Through a grant to support 10 IRC offices, IRC staff provide comprehensive financial education, coaching, and access to affordable financial products tailored to meet the needs of diverse low-income, newcomer populations. 

In Boise, the Financial Capabilities program has become a cornerstone of the IRC's efforts to empower refugees and other vulnerable groups. Through personalized financial coaching and cohort-based training sessions, participants gain essential skills in budgeting, banking, credit management, and tax preparation. These services are designed to help clients navigate the complexities of the U.S. financial system and build a foundation for long-term economic self-sufficiency.

A key component of the program is collaboration with the IRC's subsidiary organization, the Center for Economic Opportunity (CEO). CEO offers a variety of non-predatory loan products to clients and helps clients to achieve their financial goals, whether that means improving their credit score, pursuing education, starting a small business or simply managing day-to-day expenses more effectively.

Clients receiving Financial Capabilities services report increased confidence in managing their finances, improved credit scores, and greater financial stability. As the IRC in Boise continues to expand this vital program, the support from Wells Fargo ensures that more individuals and families can achieve economic independence and contribute to the vibrant community of Boise.

Client Success: Sarah's Journey to Financial Independence

Sarah's story is a testament to the power of resilience and determination. Arriving in Boise from Kenya last year, Sarah*, originally from the Democratic Republic of the Congo, embarked on a journey to rebuild her life. During her time in Kenya, she worked in community health, which inspired her to pursue a similar career in the U.S. Balancing two jobs, including one as a dietary aide, Sarah is also pursuing her education to return to the field of community health.

As a single mother working hard to provide a better life for her children, Sarah faced a difficult journey navigating an unfamiliar financial system in the U.S. During her first month in the country, Sarah attended all four Financial Capabilities courses on topics including budgeting, credit, banking, and taxes. After settling into her new community, IRC financial coaches provided additional one-on-one sessions where she received individualized financial education and expressed a strong interest in building her credit.

Through this guidance, Sarah learned how to manage her finances, build a realistic budget, and track her spending. She also began to pay off her International Organization for Migration travel loan on time to avoid damaging her credit. When informed about the credit-building loans IRC offers through the CEO, Sarah was intrigued. She took out a first-tier credit-building loan and has begun to improve her credit score, hoping to purchase a car in the near future.

Today, Sarah is financially independent, providing a stable environment and a bright future for her children. She works full-time, manages her household with confidence, and has achieved economic self-sufficiency. Her story is a powerful reminder of the resilience and strength of refugees and how financial education can transform lives.

* Names have been changed to protect identities.