TACOMA – Oleta Wetherall had a low-paying job and faced difficult money problems after a divorce – to the point of tearing up bills when they arrived. A Tacoma Goodwill program helped put her financial planning in order.

The program, Key to Change, recently received a $50,000 grant from the Key Foundation (funded by KeyCorp) to provide financial literacy classes to the general public. This is the second year the foundation has supported the program.

“Key to Change more than met our expectations to help improve the financial profile and prospects of participants,” said Tom Spilman, president of Key Bank’s South Puget Sound District. “We will continue to support the outreach and education efforts of Tacoma Goodwill through this program.”

In 2007, there were more than 230 participants who took the free, eight-session program. There were 30 separate programs held with the state Department of Corrections, New Phoebe House, Phoenix Housing Network, The Salvation Army, and among Tacoma Goodwill’s own employees.

The results: Nearly all the course participants were introduced to a credit counselor and learned about the services that are available; most got an understanding of how to read a credit report and could identify a predatory lender. The state Department of Corrections reported that after an initial course, all of its participants paid their fines and victim compensation payments on time.

“While our mission is to provide job-training and placement programs, it’s also important for people to learn to manage their money so they can achieve financial stability,” said Terry A. Hayes, Tacoma Goodwill CEO. “Through the generous support from the Key Foundation, we will continue to be able to reach out to people in our community who truly need these services.”

For Wetherall, the financial literacy program changed her habits: she paid off big bills first; tracked her spending; and even encouraged her daughter, Andrea Sorsby to enroll with equally positive results.

Program goals for 2008 include increasing the number of participants to 360 and organizing at least 40 separate sessions. New versions of the curriculum are being organized, including ones in Spanish and Russian, and courses focused on the needs of military families and at-risk teens.

The program started in 2007 to educate people who may be “unbanked,” unaware of the complex financial tools available and who may be more susceptible to payday lenders. The classes are designed to boost knowledge of money matters such as checking and savings accounts, investing and credit.