NFCC Launches Groundbreaking 'Life Beyond Debt' Program to Tackle Debt and Build Savings Simultaneously

New initiative pilots innovative savings component, supported by research to enhance financial stability

WASHINGTON, June 30, 2025 /PRNewswire/ -- The National Foundation for Credit Counseling (NFCC) today announced the launch of its transformative "Life Beyond Debt" program, a comprehensive initiative designed to fundamentally change how individuals overcome debt and build a secure financial future. A key component of the program's initial pilot phase is the WealthBuilder savings program, which will enable clients to build emergency funds while actively reducing their debt.

The need for such a program is stark. The 2025 NFCC Financial Literacy and Preparedness Survey, conducted by The Harris Poll on behalf of NFCC, revealed that nearly one-third (32%) of U.S. adults report having no savings at all outside of retirement accounts. This lack of a financial cushion leaves many vulnerable, as studies, including the Federal Reserve's Report on the Economic Well-Being of U.S. Households, have consistently highlighted that the inability to cover an unexpected $400 expense is a common benchmark indicating significant financial fragility. Further underscoring the challenging financial landscape, the NFCC's own Financial Stress Forecast indicates rising consumer financial strain, reaching pre-pandemic levels (6.8 in Q1 2025, projected to rise to 7.0 in Q2 2025), highlighting the urgency for programs that build financial resilience.

"Life Beyond Debt is a fundamental change to address widespread financial instability," said NFCC CEO Mike Croxson. "We're empowering people to resolve debt and build a secure future, recognizing the peace of mind that building savings brings. The pilot's research will guide our work to support broader financial wellbeing."

The "WealthBuilder" savings program, a cornerstone of the Life Beyond Debt pilot, is launched in collaboration with FinTech partner Percapita⁽¹⁾. This collaboration will provide participants with seamless access to goals accounts and tools designed to encourage consistent saving habits. NFCC member agencies participating in the initial pilot are representative of a cross section of the membership.

"The goal of the Life Beyond Debt pilot is to innovate the ways we support people working to become and remain financial well. This is the same goal at the core of Percapita's mission," said Alex Ehrlich, CEO of Percapita. "We're excited and inspired to partner with the NFCC and its member agencies to bring the WealthBuilder program to life."

A critical element of this initiative is its research component, which will be funded by the Institute of Consumer Money Management (ICMM) and conducted by the Center for Retirement Research at Boston College. This research will provide NFCC and our partners, with invaluable data and insights into effective strategies for promoting savings habits and enhancing long-term financial stability among individuals managing debt.

The NFCC anticipates that the findings from the "Life Beyond Debt" pilot program will significantly inform the development of more effective programs and support advocacy for policies that bolster consumer financial health across the country.

This initiative is expected to make a significant, direct impact on the lives of many. The NFCC anticipates that this pilot program alone will help thousands of struggling consumers take meaningful steps to reduce their debt and build a foundation of emergency savings, fostering greater financial stability and peace of mind.

About NFCC

Founded in 1951, the National Foundation for Credit Counseling (NFCC) is the oldest nonprofit dedicated to improving people's financial well-being. With a nationwide network of NFCC Certified Credit Counselors serving 50 states and all U.S. territories, NFCC nonprofit counselors are financial advocates, empowering millions of consumers to take charge of their finances through one-on-one financial reviews that address credit card debt, loans, housing decisions, and overall money management. For expert guidance and advice, call (800) 388-2227 or visit www.nfcc.org.

⁽¹⁾ Percapita is not a bank. Percapita Group, Inc., is a digital company that provides access to products and services to help improve financial wellness. The Percapita Cash Accounts are provided by Sutton Bank, Member FDIC.

SOURCE National Foundation For Credit Counseling