SUGAR LAND, Texas, April 29, 2020 /PRNewswire/ -- Money Management International (MMI), a leader in financial empowerment, today announced it has allocated a significant portion of its Project Porchlight grant from MetLife Foundation to stabilize households experiencing COVID-19-related financial challenges.
"We are in uncharted territory with the pandemic impacting millions of consumers across the country," said Jim Triggs, President and CEO of MMI. "We recognize the need to strengthen communities during disasters, and we are thankful to work with MetLife Foundation to direct a portion of our grant to support those affected by coronavirus."
Funding for Project Porchlight allows MMI to deliver financial recovery coaching to anyone impacted by natural disasters in the U.S. and its territories. The program, launched in 2018 as Fannie Mae's Disaster Response Network, expanded last September with a grant from MetLife Foundation to broaden accessibility to anyone financially impacted by a catastrophe.
Over the past several months, MMI has experienced increased demand for financial counseling services due to reductions in income or total job loss. To date, the nonprofit has received nearly 10,000 coronavirus-related calls and its disaster recovery lines experienced a 20-fold increase in calls from February to April. With social distancing mandates expected to remain in place for the near future, demand will likely continue to surge.
"COVID-19 has upended modern presumptions of what constitutes a disaster or catastrophe," said Dennis White, President and CEO of MetLife Foundation. "The pandemic has affected everyone, and particularly those who were already at risk financially. As funders, we wanted to provide MMI the flexibility to pivot their work and expand Project Porchlight to serve people financially affected by COVID-19."
In 2019, Project Porchlight served clients from 10 states with disaster recovery counseling. With this expansion, the program has already reached clients in 49 states and Puerto Rico. Project Porchlight recovery experts assess the financial impact of COVID-19, develop a custom recovery plan, assist with filing aid claims, and conduct ongoing support. For more information, visit Porchlight.org.
Money Management International (MMI) is changing the way financial challenges are solved. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For 60 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions that are aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
About MetLife Foundation
At MetLife Foundation, we believe financial health belongs to everyone. We bring together bold solutions, deep financial expertise and meaningful grants to build financial health for people and communities that are underserved and aspire for more. We partner with organizations around the world to create financial health solutions and build stronger communities, engaging MetLife employee volunteers to help drive impact. To date, our financial health work has reached 9.9 million low-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.
Jennifer Powell, Pierpont Communications
Thomas Nitzsche, Money Management International
SOURCE Money Management International