Not long after the credit card was first introduced, a need for consumer financial education and counseling was identified. In the 1950s and ‘60s, groups of volunteers in various parts of the country joined together to provide free financial services to the general public. Over the years, the need for their services increased drastically and nonprofit organizations were formed to meet the demand. Many of these organizations went by the name Consumer Credit Counseling Service (CCCS).
Over time, it became clear that consumers wanted the convenience of telephone and Internet counseling, and creditors wanted a high-tech solution to disbursing funds and administering Debt Management Plans, but the expense and effort required to establish a national telephone center and develop the necessary technology was judged too great for any one agency to undertake.
In 1997, six of these successful organizations, that had more than 100 years of combined service to consumers and their communities, aligned to form Money Management by Mail. Money Management by Mail was formed as a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code in response to changing needs of both consumers and creditors. These founding members decided to undertake the task of building the technology necessary to efficiently serve those in need of credit counseling. In 2000, Money Management by Mail reorganized with the merger of CCCS of the Gulf Coast, one of the original alliance partners. In 2003, Money Management by Mail was renamed Money Management International (MMI) to better represent its capabilities.
Over the years, MMI strengthened its in-person counseling capacity and community educational initiatives by merging or joining forces with additional CCCS agencies. These mergers elevated MMI to the position of the nation’s largest full-service credit counseling organization.
The mergers have benefited not only the MMI organization and the local CCCS agencies, but also consumers in general, its clients and the local communities. With a larger geographic area, MMI has been able to expand its reach and provide consumers with enhanced customer service and expanded financial education resources. By providing the local CCCS agencies with centralized technological, administrative, and corporate support, the local agencies have been able to focus on expanding local community education and delivering in-person credit counseling.
Today, MMI is an industry leader in financial education, counseling, technology, industry association, growth, creditor relations, and program development. The MMI team has nearly 1,500 full-time employees throughout the United States. MMI is headquartered in Houston and has major contact centers in Houston, Ft. Worth, Denver, Phoenix, Baton Rouge, LA, and Warwick, RI. In addition to providing services nationwide by phone and Internet, MMI currently provides counseling and financial education to clients from 119 branch offices throughout the country.
MMI is a member of and has a leadership role in the National Foundation for Credit Counseling (NFCC) and the Association of Independent Consumer Credit Counseling Agencies (AICCCA). MMI is accredited by the Council on Accreditation (COA).