The SunTrust Foundation announced a grant of $350,000 to Clearpoint’s Hispanic Center for Financial Excellence (HCFE) program in Miami, which helps low- to moderate-income families achieve financial stability through free financial education, advice and tools.

“On behalf of the SunTrust Foundation, we’re proud to partner with HCFE to help more people get access to the resources they need to build their financial confidence,” said Manny Perdomo, president and CEO of SunTrust Bank’s South Florida division and Clearpoint board member. “Our goal is to eliminate the financial stress that people feel and help them take steps in the right direction.”

At the HCFE, advisors meet with clients one-on-one to discuss their needs, gain a clear understanding of their current financial situation, identify goals and establish personalized action plans. Advisors also conduct group classes on topics tailored to meet the needs of the Hispanic community at different life stages and in a culturally welcoming environment.

“The guidance that we’ve received from the HCFE has helped open doors for us,” said Blanca Andrade, a client of the HCFE. “By taking the recommended actions, we have started to reach our financial goals.” 

Two-thirds of HCFE clients begin regularly contributing to an emergency savings goal. HCFE clients also report an increased understanding of the financial system through the guidance they receive.

“The HCFE is a valuable program that directly aligns with SunTrust Bank's purpose of Lighting the Way to Financial Well-Being," said David Fuller, president of the SunTrust Foundation. “This grant was strategically allocated to help all individuals achieve the feeling of confidence that comes when one is financially capable.”

The HCFE was established in Atlanta in 2012 by Clearpoint Credit Counseling Solutions, a division of Money Management International (MMI), and expanded to Miami in 2014. The generous support provided by the SunTrust Foundation is expected to allow the HCFE to reach 3,000 clients.