C.E.F.S. Economic Opportunity Corporation

2005 FAMILY OF DISTINCTION
The Leah Schodlatz Family

C.E.F.S. Economic Opportunity Corporationand the Illinois Community Action Associationhonored the Leah Schodlatz family as the 2005 Family of Distinction for making asuccessful transition from rental assistanceto home ownership and for beginning the journey towards the achievement of self-sufficiency.

As a part of National CommunityAction Month in May 2005, C.E.F.S. Economic Opportunity Corporation formally recognized this family of distinction for their successfulparticipation in sponsored agency programson their way to achieving self-sufficiency.At the C.E.F.S. Economic Opportunity Corporation’s May 2005 Board of Directorsmeeting and at the Illinois Community ActionAssociation’s May 2005 annual meeting the Leah Schodlatz family was recognized as the 2005 Family of Distinction. The Schodlatz family was presented with the 2005 Family of Distinction Award demonstrating that Community Action helps people and changes lives.

Leah Schodlatz, a single mother of two young sons, came to the C.E.F.S. Moultrie Outreach Office to request rent assistance and services that would allow her to provide for her family after a change in the family structure. When staff looked at the possibility of enrolling Leah in the Homebuyer Program, the household debt to income ratio was too high, to they offered Leah the opportunity to enroll in the Individual Development Account Program (IDA). Leah accepted the responsibility of saving regularly, attending required workshops, and embracing budget counseling in order to purchase a home. Leah enrolled in the IDA for one year, never missing a monthly payment into her account. She received counseling on debt reduction and attended the required 10 hours of financial literacy training and 8 hours of homebuyer counseling. Leah was able to save $2,000 on her own, which made her eligible to receive $4,000 in match money from the IDA Program to be used as down payment for a home. Learning from financial management training, Leah was determined to pay her credit card debt off early, which she did, allowing her to save $5,250 in interest payments. Because of her successful outcome in the IDA Program, Leah became an outstanding candidate for the Homebuyer Program. She closed on her home in October 2004.

Pictured from left to right are Leah Schodlatz, John Pollock and Ryan Schodlatz.

Our agency congratulates the Leah Schodlatz family for their efforts and success in achieving self-sufficiency!

Read about our 2004 honoree.

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