Social change work is hard and frustrating and wonderful and terrible; it is also, at times, funny, quirky and just plain fascinating. With this blog we hope to capture all that goes into what we do at Capital Good Fund, and we invite you to join the conversation!

Thursday, February 13, 2014

Financial Coaching Corps Profile - Randy Sacilotto

As the Vice President of Business and Community Development at Navigant Credit Union, Randy
Sacilotto’s job is to be out in the community, ensuring that the needs of businesses and individuals are being met.  Yet Randy’s dedication to serving others extends well beyond his day job. Indeed, the list of his volunteer commitments is telling: he is the past President and current Board member of the Lions Club of Pawtucket, and sits on the Board of Directors of the Project Learn Family Literacy Center in Woonsocket.  And given his expertise in banking and financial services, Randy was intrigued when he heard that General Treasurer Gina Raimondo would be launching a financial empowerment initiative; he immediately emailed her about the opportunity, and was one of the first volunteers to sign up.

After going through Capital Good Fund’s training, Randy was eager to start meeting one-on-one with Rhode Islanders.  That said, going into the program he was “worried that the sessions would be overwhelming for the clients,” and that “their financial challenges would be too great for me to help solve.”  Fortunately, Randy’s experience has allayed those concerns.  “I’ve had the pleasure of working with eight people thus far, and I’ve been able to help most of them in a meaningful way,” he notes.

Growing up, Randy learned a valuable lesson, one that he has imparted to his clients: what matters isn’t how much you earn, but rather how much you spend.  He explains: “Growing up I was always working…Cutting grass, shoveling snow, things like that.  But I didn’t manage my money well; I constantly found myself having to work more just to keep up with my spending.” In fact, it wasn’t until Randy moved into the banking sector that he put together a sound financial plan. 

Now, as a member of the Coaching Corps, Randy gets to help others create their own financial plans.  “Finances aren’t really that complicated,” he says.  “People don’t want to be judged or saved.  They are just looking for someone to sit down with them, to compassionately understand their situation and to acquire the tools and skills they need to get ahead.” 

So far, Randy has worked with families to manage student loans, understand what credit is and how it works, and simply get out of the cycle of spending more than they earn.  He concludes: “It’s critical that people have an avenue for financial education open to them.  And I’m confident that once they have that financial plan, it’s much easier to stick to it and both set and meet financial and life goals.”

Learn more about Treasurer Raimondo's financial empowerment initiatives here:

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