GreenPath Financial Wellness Creates Endowment Funds to Honor Founders Albert O. Horner and Bruce Paradis

  • November 27, 2019
  • By: Greenpath Financial Wellness

GreenPath is pleased to announce the creation of two endowment funds. Read an excerpt of the press release with a link to the full release below:

GreenPath Financial Wellness Creates Endowment Funds to Honor Founders Albert O. Horner and Bruce Paradis

Funds will support the national nonprofit’s operations, helping people achieve financial health and sustainable homeownership

The Founder’s Funds were created by GreenPath who provided the initial funding to recognize these incredible founders’ contributions. The Funds will be managed by the Community Foundation for Southeast Michigan, which currently manages endowments for more than 200 nonprofit organizations. The Funds will generate a stream of income for GreenPath, leaving assets invested to grow in perpetuity and ensuring assets are preserved for the nonprofit’s long-term mission.

“The Founder’s Funds are a most fitting way to honor the legacies of Mr. Horner and Mr. Paradis,” said Kristen Holt, CEO, GreenPath. “Mr. Horner and Mr. Paradis provided a great gift that has helped people for decades improve their financial wellness, obtain and sustain their American Dream. We are committed to continue the great work they started. These endowments will be a lasting demonstration of that commitment.”

Albert O. Horner founded GreenPath over 60 years ago with a vision: to change lives. Born out of the Michigan Credit Union League in 1961 as a budgeting and financial education service, the organization was initially established as Credit Counseling Centers. GreenPath was one of the country’s first agencies that the U.S. Department of Housing and Urban Development (HUD) approved for financial counseling services. Since then, GreenPath has become a national leader in financial wellness. “I am so grateful to all those who are continuing my life’s work and passion,” remarked Mr. Horner.

As a founding member of the HPF board, Bruce Paradis helped HPF open its doors in 2004, by obtaining a $20 million seed grant from General Motors Acceptance Corp. (GMAC) to start this important work. “I wanted to help homeowners regain control of their financial situations during the housing crisis. I’m heartened to see this effort we started in 2004 continue,” remarked Mr. Paradis.

Click here to read the full release on the endowments.


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