When Mario and Stacia* became parents, they awoke to more than their daughter's cries: They realized that the way they were getting by financially was not going to work anymore. They needed more reliable transportation to get to work and to medical appointments, and they needed to set up a savings plan. While they'd decided upon these goals, they did not know what steps to take to reach them until one of Mario's colleagues told him about the Ways to Work Family Loan Program.

Mario and Stacia called the Ways to Work office in Campbell right away, and were invited to come in for an appointment. At the meeting, they explained that they were only barely getting by due to the high costs of raising a family in the county. Stacia had one more year of classes to complete in order to become a legal assistant. Mario was staying home with their one-year-old during the day and working nights doing maintenance.

Because their old car had broken down beyond repair, Stacia commuted to campus with a friend and Mario took the bus to work. Mario knew that with his strong work history and skills, he could get a better job with more benefits and more opportunities for advancement, if he could look for jobs outside of the limited area served by their local bus route. In addition, getting to pediatrician appointments by bus made a visit almost a full-day activity. They had never looked into loans because they assumed they could not afford the payments.

"We learned so much about our finances just at that first meeting. I had never looked at my credit report until then," Stacia said.

Their application went to the loan review committee, and the couple soon learned they had been approved for a $4,000 loan at 4% interest to purchase a used car.

"Our goal is for families to succeed," said Jim Dale, the program director. "We want our clients to obtain the skills and knowledge they need to be self-sufficient. For example, if money is tight one month, we give them advice on how to handle their pile of bills and make arrangements with their creditors. Then we talk through how to avoid these situations in the future."

For Mario and Stacia, the car opened up new opportunities. Mario found a job paying twice the salary, with better health benefits and a good training program. After Stacia finished her training program and began her career, they set up a savings account dedicated to Ines' future education. When Ines is old enough, they plan to help her open her own savings account, so she gets in the habit of banking and saving early.

Learn more about the Ways to Work Family Loan Program.

*Names have been changed to protect client confidentiality.