GREENPATH DEBT SOLUTIONS CELEBRATES 50 YEARS OF SERVICE IN AUGUST
Michigan-based non-profit helps thousands pay off nearly $2.5 billion to clients’ creditors
(FARMINGTON HILLS, MI. – August 1, 2011) GreenPath Debt Solutions, a nationwide, nonprofit financial organization providing consumers with financial education, debt repayment programs, foreclosure prevention and bankruptcy counseling, is celebrating its 50th anniversary in August.
Headquartered in Farmington Hills, GreenPath began on August 1, 1961, as a budgeting and financial education service that was part of the Michigan Credit Union League. In 1968, business leaders with an interest in providing a source of financial information and counseling raised funds through a joint capitalization effort to create Credit Counseling Centers, Inc. (CCC), a 501(c)3 non-profit corporation.
Throughout the 1970s and 1980s, CCC experienced exponential growth. The company not only expanded into multiple counties across Michigan, but also into other states. From 1988 to 1994, CCC more than doubled the number of office locations from 14 to 30 and tripled the number of consumers served from 2,932 to 9,000.
In 2001, Credit Counseling Centers, Inc. assisted more consumers than in any other previous year, counseling 41,818 people. In July of that same year, the company changed its name to GreenPath, Inc., doing business as GreenPath Debt Solutions in an effort to establish a unique brand identity as a national leader in financial counseling and education.
In 2010, GreenPath counseled 370,411 people, added eight offices and broke ground on a new headquarters in Farmington Hills Michigan. The four-story, 125,000 foot facility will house more than 450 employees in a state of the art headquarters and call center. Growth continued in 2011, when GreenPath added 17 more offices.
Today, GreenPath employs nearly 600 people across the country. The company operates 61 full-time branch offices in Michigan, New York, New Hampshire, Colorado, Florida, Texas, Vermont, Illinois, Indiana, Wisconsin, Arizona and Wyoming. They also deliver services throughout the United States over the Internet and telephone.
Under the leadership of Jane McNamara, president and CEO, GreenPath’s revenue has grown from $8.87 million in 1996 to $45.5 million in 2010.
Celebrating its 50th anniversary in 2011, GreenPath has assisted hundreds of thousands of people with credit card debt, housing debt and bankruptcy concerns, while returning nearly $2.5 billion to their cleints’ creditors.
GreenPath Debt SolutionsTimeline
1961 - Company founded as part of the Michigan Credit Union League (MCUL).
1967 - Became the first organization providing housing counseling services to be certified by the U.S. Department of Housing and Urban Development (HUD).
1968 - Business leaders, with an interest in providing a source of financial information and counseling, raised funds through a joint capitalization effort to create Credit Counseling Centers, Inc., a 501(c)3 non-profit corporation.
1970s-1980’s - Established stand-alone credit counseling organizations in additional states, including Maine, New Hampshire, and Oklahoma.
1985 - Expanded services into Moline, Illinois.
1988-1994 - More than doubled the number of office locations (from 14 to 30) and tripled the number of clients served annually (from 2,932 to 9,000).
1995 - Formed Credit Counseling Service of Southern New York; opened six offices in metropolitan New York. Introduced a call center in an effort to meet demand for services over the phone.
1999 - Opened offices in Arizona and Wisconsin.
2000 - Initiated business registration and licensing efforts to become a national service provider.
2001 - Changed the corporate name from Credit Counseling Centers, Inc. to GreenPath, Inc. in an effort to establish a unique brand identity as a national leader in financial counseling and education.
2003 - Began marketing the Accel Members Financial Counseling program to credit unions.
2004 - Opened offices in Indiana through an asset transfer agreement with Consumer Credit Counseling Service of Northern Indiana, Inc.
2005 - Became approved by the Executive Office for United States Trustees (EOUST) to provide bankruptcy counseling and education services.
2006 - Opened a second location in Farmington Hills that accommodated up to 240 employees to meet the demand for bankruptcy counseling and education services.
2009 - Opened office in the West Loop area of Chicago, Illinois.
2010 - Broke ground in April on a new company headquarters building in Farmington Hills, which is set to open in 4Q 2011.
2010 - Opened four offices in Florida in January through an asset transfer agreement with Consumer Credit Counseling Service of Mid-Florida. Opened four offices in September in Northern Texas through an asset transfer agreement with Consumer Credit Counseling Service of North Central Texas.
2011 - Opened four offices in south Texas through an asset transfer agreement with Consumer Credit Counseling Service of South Texas. Opened nine offices in New Hampshire and Vermont through an asset transfer agreement with Consumer Credit Counseling Service (CCCS) of New Hampshire and Vermont. Opened four offices in Colorado and Wyoming through an asset transfer agreement with Consumer Credit Counseling Service (CCCS) of Northern Colorado and Southeast Wyoming.
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