Transformation Along Your Financial Journey

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Transforming lives for lasting change.

2020 was a year of transformation.

The upheavals caused by the Covid-19 crisis began in 2020 and we're still in its grip today. A The Tight Links Between Mental and Financial Health 2020
November 2020 study*
found that more than half of Americans say their financial health has been negatively impacted by COVID-19.

People are looking for resources to handle day-to-day financial stresses that look nothing like the stress they experienced in the past.

In 2020, our skilled and empathetic financial counselors connected with our clients to drive outcomes such as improved financial resilience. We know our work isn't transactional. It is not just about paying off debt. It is work that transforms lives for lasting change.

2020 Transformations

  • We pivoted in March to an entirely phone-based service and completely virtual workforce and aligned with our more than 500- strong partner family — banks, credit unions, insurance companies and employers — to meet the challenges of the crisis.
  • We connected people to services that are steeped in empathy, honored to meet people where they are when they needed us the most. We received excellent Net Promoter Score (NPS) client satisfaction scores, achieved through our human centered design practices which put people at the center of everything we do.
  • In the face of social and economic injustices, we launched an Inclusion Diversity Equity and Access Initiative, which engages the GreenPath workforce through town halls, listening sessions, and diversity training. As you'll read in this report, our focus on impact continued with efforts to design and deliver services to communities of color.
  • Our workplace accolades included 2020 Top Workplace Awards and being named a 2020 National Companies that Care for outstanding workplace practices in time of crisis.

The first-person accounts included in this report illustrate how our clients are empowered to transform their financial health and wellness. We believe it is vital for this work to be done in equitable and inclusive ways to meet the needs of our employees, clients, partners and communities.

President & CEO

Transformation Along Your Financial Journey

People are at the center of everything we do — a commitment we've held throughout our 60-year legacy and one which fuels our efforts during the ongoing pandemic crisis. GreenPath works to transform people's quality of life through financial wellness. That means treating people with respect and care, providing services that work for everyone.

Our clients share these stories throughout this annual report. Their first-person accounts are of transformation, lasting change and strengthened financial resiliency.

GreenPath's Theory of Change infographic

Money Lessons Across a Generation

Managing money might have been one of those "taboo" subjects our parents didn't want to discuss.

That was Tanisha's experience growing up, but one she is changing with her own son.

After getting into debt in her early twenties, Tanisha had feelings of shame and isolation.

She turned to options that ended up increasing her stress, like payday loans.

To prepare her finances to purchase a home, she found her way to GreenPath and discovered that she wasn't alone. Inspired to build a better foundation for her son, she soon became debt-free.

View Tanishia's Story:

GreenPath client image

“I was equipped with money management tools and knowledge for future success.”

Tanisha & Noah Leonard

Detroit Voices — Transforming Communities

GreenPath is committed to improving the financial lives of people in Detroit, and we are adapting our services to better meet community needs.

With the 2020 launch of listening surveys, the intention of Detroit Voices is to connect with people of color who have an earned distrust of financial institutions.

First by listening, we can better serve, and focus on building relevant and accessible resources lifting up the fundamentals of credit and household finances.

Omari Hall, GreenPath Learning Experience Specialist

“With this real-world input, GreenPath is working to provide empathetic, judgement-free educational resources designed for what's happening now.”

Detroit native and community organizer OMARI HALL, GreenPath Learning Experience Specialist

2020 Impact and Outcomes

Total 2020 Budget/Debt Counseling Services Provided

OF 107,997 SERVICES:


were budget / debt related services

Achieved 2020 Industry Gold Standard Customer Satisfaction Ratings



Excellent Net Promoter Score

Total 2020 Reverse Mortgage Housing Services Provided

OF 107,997 SERVICES:


were Reverse Mortgage services

2020 Total Engagements with GreenPath Educational Resources


engagements with GreenPath educational experiences

Total 2020 Counseling Services Provided


total services provided

Total 2020 Amount Paid in Debt


paid toward debts on Debt Management Plans

Total 2020 Debt Management Plans


Debt Management Plans managed

Number of people who paid their debts in full with assistance of Debt Management Plan


people who paid their debts in full with assistance of a Debt Management Plan

Total 2020 Mortgage Delinquency Housing Services provided

OF 107,997 SERVICES:


were mortgage delinquency services

Percentage of those who successfully completed GreenPath's "Redesign your Financial Habits"



understand how to create or change financial habits

Total 2020 Pre-Purchase Housing Services Provided

OF 107,997 SERVICES:


were Pre-Purchase services

2020 Financials

2020 Expense Breakdown Chart

2020 Revenue Breakdown Chart

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“Every time we called GreenPath, it was always a kind, loving, and supportive environment.”

Victoria & Jeff

A Healthier Financial Future

Our personal finances affect our relationships and our overall well-being. That's what Victoria and Jeff will tell you — a young couple facing mounting debt, a pre-foreclosure notice on their home, and challenges to keep up with living expenses like utilities and food.

The couple managed their situation by teaming with GreenPath. Jeff and Victoria got a personalized plan to control their household finances and create a healthier financial future.

As Victoria and Jeff will tell you, it's easier to make healthy financial choices when you have strong options at your fingertips.

View Victoria and Jeff's Story:

Partnering for True Transformation

Throughout 2020, GreenPath continued strategic alliances and partnerships with mission-aligned organizations. Together, we are transforming the culture of personal finance so millions of Americans can improve their financial security.

CREDIT UNION & BANK PARTNERS: In 2020, 45 new credit union and bank partners joined GreenPath to provide access to financial counselors and educational resources to those they serve. Together with more than 550 partnering organizations, we are there for millions of people on their financial health journey.

PRUDENTIAL: Recognizing the importance of managing household debt to improve long-term financial security, the Prudential and GreenPath partnership went live in 2020 to provide debt management education and tools to Prudential's growing suite of workplace financial wellness solutions. Employees of more than 100 of Prudential's network entities now have access to financial information and helpful tools to manage debt.

According to an independent TechValidate survey:

99% of surveyed financial institution partners are likely to recommend GreenPath Financial Wellness.

92% of GreenPath credit union partners agree that GreenPath offers an outstanding member experience.


  • JPMorgan Chase Foundation helped make possible financial coaching sessions to those dealing with COVID and other financial challenges.
  • BorrowSmart pre-purchase counseling program with Freddie Mac continued to provide important housing guidance to homebuyers.
  • The GreenPath Partner Center online portal received "Best in Show Innovation Award" at the 2020 CU Leadership Convention.


The mobile app, MyGreenPath, launched in 2020 for download via any device. Built with the highest levels of security, the app allows clients 24/7 access to complete account information at their fingertips.

“GreenPath provides hope to our members.”

GreenPath has formal partnerships with hundreds of financial institutions across the country to empower financial health among those they serve.

Alabama One Credit Union teams with GreenPath to help fuel their mission of providing financial wellness services and resources to their members.

The partnership enables Alabama One Credit Union members to prepare for life's ups and downs, and build the financial foundation for their dreams.

Faces and PEW metric graphic

Teaming with USAA

The financial well-being of communities of color often lags behind that of the population as a whole. Those disparities became even more evident during the ongoing COVID crisis.

Late in the year, GreenPath received a $1 million grant from the United Services Automobile Association (USAA) to positively address disparities that exist within communities of color and low-income military communities in the San Antonio/Bexar County, Texas region.

With the funding, GreenPath launched a 2021 initiative to help Black and Hispanic clients improve overall financial health and reduce financial stress.

The 995-Hope Hotline, a trusted resource for mortgage borrowers under stress since 2008, was again at the center of a national crisis, providing access to empathetic HUD certified housing counselors.

The Homeownership Preservation Foundation (HPF) acted as Program Administrator for two affordable lending programs, supporting access to down-payment assistance for low-to-moderate income borrowers.

HPF's successful post-modification financial coaching programs were in greater demand in 2020 as mortgage loan servicers offered the program to borrowers in modified loans and those impacted by the COVID-19 pandemic.

As in years past, our contracted relationships with mortgage loan servicers and lenders lie at the heart of our activities. We appreciate their unwavering support of the 995-HOPE Hotline and in their trust to send us their at-risk borrowers and first-time homebuyers.

Looking Forward

We will continue our focus on refining our core services of mortgage delinquency / foreclosure prevention, post-modification and pre-purchase housing counseling to impact under-served communities and those disproportionately affected by the ongoing COVID crisis.

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  • Funding from Wells Fargo Foundation helped GreenPath deliver timely counseling to meet the needs of renters and homeowners affected by the COVID-19 pandemic.
  • We handled almost 100,000 calls from homeowners facing financial hardships and financial stress.
  • Counselors conducted over 32,000 sessions for clients seeking options to stabilize their housing.
  • Counselors supported over 3,300 first-time homebuyers to achieve their dream of homeownership.

In Memory of Gene Spencer

In late 2020, GreenPath honored the memory of Gene Spencer who throughout his career applied his deep passion in housing and financial health to support those facing challenges with housing stability. Gene served as chief executive officer for GreenPath's affiliation HPF, after previously serving as senior vice president of stakeholder engagement, policy and research. Spencer joined HPF in 2010, at the height of the mortgage crisis. With decades of experience in housing policy and finance, including leadership positions at Fannie Mae, Spencer made a true difference to American households.

GreenPath affiliate Clarifi is proud to serve Philadelphia and the Delaware Valley with financial and housing counseling services as well as educational resources. In 2020, the focus was on helping individuals and their families manage through the financial fallout of the ongoing pandemic crisis.

To empower individuals to reach financial resilience, Clarifi launched several new initiatives in 2020. This includes a partnership with the federal courts in Philadelphia to help returning citizens reintegrate into the community and prevent recidivism, a new eviction prevention program to keep renters in their homes, and a partnership with Children's Hospital of Philadelphia to serve families of their patients.

Home Sweet Home

Clarifi supports the City of Philadelphia's Restore, Repair, Renew (RRR) initiative — a program to empower area residents to transform their housing.

Community organizer and Philadelphia activist William Goldsby worked with Clarifi to help him understand how his debt-to-income ratio affected his eligibility for the RRR loan.

In keeping with William's activism, part of his RRR repairs focused on preparing a community room in the basement as a "crisis and emergency room" for the work he does in community outreach.

By teaming with Clarifi and fueled by the RRR initiative, William's renovated home will transform his community.

View Williams's Story:

“It's a blessing to have this oasis, it feels and looks good as I do this work.”

William Goldsby

Clarifi client image

View Yavette's Story: One Step at a Time


  • 6,114 total client households counseled
  • 9,153 total number of counseling sessions
  • 127 total financial literacy workshops delivered
  • 2,413 total workshop participants
  • 819 individuals reduced unsecured debt by 10% or more
  • 2,720 established healthy savings
  • 118 purchased a home

GreenPath affiliate Rural Dynamics (RDI) provides services and programs across Montana and northern Idaho to help individuals and families become financially secure. Despite the global pandemic, RDI met the challenges of delivering services to clients and implemented new programs.

In 2020 and Beyond

RDI envisions communities where everyone is empowered to make sound choices about their personal finances and access equitable economic opportunities.

Expanded 2020 Services to Disabled
  • disabled RDI client picture
RDI Civic Engagement
  • RDI civic engagment picture
RDI Community Engagement
  • RDI community engagement picture
Strengthening Rural Business Community
  • picture of community member with completion certificate
Tax Prep Services for Elderly
  • picture of elderly woman receiving tax help
RDI Free Tax Prep, Filing Services
  • picture of young couple receiving tax prep services
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  • Serving more than 6,000 total clients in 2020, the Volunteer Income Tax Assistance program shifted its service delivery model to fully remote in the early days of the pandemic.
  • Top producer nationwide for the Tax Counseling for the Elderly program.
  • Expanded financial coaching service by contracting with the Montana Department of Labor to serve Medicaid participants.
  • Launched a financial coaching program for employers as part of a health benefit plan through BCBS of Montana.
  • Expanded services to people with disabilities by launching a statewide pooled asset trust program allowing participants to hold assets for their well-being without losing their social security disability, Medicaid, and other public benefits.

Transformation Along Each Step of your Journey

Mona Senft Alvarado

“I thought they were financial fairies, who would do the work for me, but instead I learned to do it myself.”

Mona Senft Alvarado

Mona used GreenPath's debt management plan and counseling services to help manage her goal of paying down mounting credit card debt — as well as figuring out household finances for her four children.

The initial call was not what she expected. She thought the credit counselor would be a "financial fairy" - waving a wand to fix the credit issue at hand. Instead, she was provided with options that addressed her full financial picture, and information that allowed her to control her own debt payment process.

Today Mona has successfully paid off all her credit cards, which resulted in an improvement in her overall credit score. She used the process to transform her financial habits.

Also importantly, her four children now have a great role model for financial management.

Ivon Castenada

“Even with an unstable economy, I still feel optimistic.”

Ivon Castenada

2020 will be remembered as a transition to a "new normal" with financial hardships stemming from the COVID crisis.

Ivon worked as a cashier inside a McDonald's but found herself out of work when the pandemic hit and restaurants in her area closed their operations.

Her husband was able to keep some hours as a part-time chef in a local eatery.

Their “new normal” challenge was to work through the credit card debt that built up, while understanding which bills to pay each month.

Getting a personalized plan from a GreenPath counselor made all the difference to Ivon and her family in this “new normal,” from managing unexpected interruptions in income to prioritizing monthly expenses.