WILMINGTON — United Way of Delaware has received a $50,000 grant from Bank of America.

The grant will support efforts by United Way of Delaware and Stand By Me Delaware to help residents achieve financial empowerment through financial literacy outreach and one-on-one engagement with a dedicated SBM financial coach in their community.

Ninety percent of the grant funding will directly support Stand By Me Delaware in the community.

In the 11 years of the program’s operations, Stand By Me coaches have worked one-on-one with over 31,000 clients to achieve life-changing results:

• 96% of participants created and maintained a household budget.
• 83% of participants increased their savings.
• Participants improved their credit score by an average of 79 points.
• 76% of participants reduced their debt.

While in the program, clients have collectively reduced their debt by over $34,000,000, increased their savings by $42,000,000, and over 1,200 program participants have purchased a home. Learn More about Stand By Me Delaware at standbymede.org.

The grant is part of Bank of America's philanthropic giving efforts in local communities. Awardees were selected for their commitment to addressing basic needs and workforce development for individuals and families.