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Consumer Credit Counseling Service of Rochester Inc. helps clients take control of their finances, counseling those in financial trouble and providing education on good money management. It is a member of the National Foundation for Credit Counseling.
Among the newest CCCS services is student loan counseling, which helps borrowers create budgets and consider deferment, forbearance, consolidation and other repayment options. Another new program, Priority Pay, assists people whose debts are large enough that they cannot afford to address all at once and do not qualify for a comprehensive debt management plan. Priority Pay clients deal with their debts one or two at a time until all are repaid. Other programs:
Budget counseling: Certified counselors provide free instruction to help people learn to budget, manage debt and save.
Credit counseling: CCCS helps people pay off credit card debt, often establishing debt management programs and negotiating with lenders to arrange repayment within five years.
Financial literacy programs: Working with businesses and various community groups, CCCS offers free workshops on budgeting, understanding credit reports, preventing identity theft and similar topics, adapting the instruction to the audience.
Bankruptcy counseling: CCCS is certified by the Executive Office for U.S. Trustees to counsel people who have filed for bankruptcy protection.
Housing counseling: CCCS is designated by the U.S. Department of Housing and Urban Development to counsel people who have mortgage problems and may face foreclosure. Counselors also advise first-time homebuyers.
Reverse mortgage counseling: The agency offers counseling required by the Federal Housing Administration for homeowners applying for reverse mortgages.
First Home Club: To prepare to buy a first home, club participants receive education and save for 10 to 24 months for a down payment and closing costs. For each dollar saved, an eligible buyer working with a participating lender can receive $4 in matching funds, up to $7,500.
The center has 25 full-time employees, and Jason Tracy is CEO. Its office is at 1000 University Ave., Suite 900, and its website is www.cccsofrochester.org.
Financial Record Year ended Dec. 31, 2011
Creditor fees $1,156,842 44
Client fees 701,211 27
Contributions 395,070 15
Investment income 157,805 6
Net gain on sale of securities 144,436 6
Grants 54,620 2
Other 7,962 less than 1
Total revenue $2,617,946 100
Pay and benefits $1,590,387 57
Advertising and promotion 280,777 10
Office expenses 176,140 6
Information technology 162,818 6
Occupancy 140,206 5
Depreciation 82,923 3
Professional fees 81,843 3
Dues 59,898 2
Insurance 54,762 2
Conferences and meetings 54,588 2
Other 119,049 4
Total expenses $2,799,791 100
Excess (deficiency) of revenue over expenses ($181,845)
Board of Directors
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