Individual Wealth Preservation

Banking in Color: New Findings on Financial Access for Low- and Moderate-Income Communities

Jane Duong, Alvina Condon, Katie Taylor, Marisabel Torres, Lindsay Daniels and Valerie R. Wilson
Alliance for Stabilizing Our Communities (ASOC)

The Alliance for Stabilizing our Communities — a collaboration between National CAPACD (Coalition of Asian and Pacific Americans for Community Development), the National Council of La Raza, and the National Urban League — has released the findings of a national survey of bank account ownership and use in communities of color. To reduce continued disparities and close the financial services access gap, the coalition recommends a multi-faceted approach that combines technological innovation, bricks-and-mortar bank branches in communities of color, financial education, and asset building programs.

Neighborhood Housing Services of Greater Cleveland

Founded in 1975, Neighborhood Housing Services of Greater Cleveland aims to help people achieve and maintain homeownership through a range of programs and services, including homebuyer education, down payment assistance, foreclosure intervention, reverse mortgage counseling, home improvement loans, and credit counseling.  Since merging with the Community Land Trust of Greater Cleveland in 2011, it has used the land trust to develop seven, permanently affordable, energy-efficient homes. NHSGC’s initiatives are also credited with contributing over $105 million to the Greater Cleveland economy, generating $14 million in tax revenues, and sustaining 153 jobs on an annual basis.

Empowering and Strengthening Ohio’s People (ESOP)

ESOP was founded in 1993 to address the issues and challenges facing neighborhoods in Cleveland, Ohio. Formerly East Side Organizing Project, ESOP changed in name in 2007 to reflect its broadened focus toward the entire state. Its core goal is to preserve homeownership by preventing foreclosures and curbing predatory lending practices. Through community organizing, ESOP maintains campaigns concerning payday loans, vacant properties, and local development. ESOP also offers housing counseling and can directly negotiate with lenders to help homeowners avoid foreclosure. In 2002, ESOP negotiated a 5-year Community Reinvestment Act (CRA) agreement with Charter One bank—the first CRA agreement between a bank and a community group in Cuyahoga County in over a decade.

The Center for Women’s Enterprise

In the Greater Richmond region, women start new businesses 1.5 times more often than men. To ensure the success of these businesses, the Center for Women’s Enterprise was started. The center receives an annual grant from the U.S. Small Business Administration’s Women's Business Center program and partners with REDC Community Capital Group Inc. to provide free one-on-one counseling sessions and educational programs for women starting a business or seeking advice on how to grow a business. It also hosts networking events to foster connections between women business owners in the Greater Richmond area.

The State of Lending in America & its Impact on U.S. Households

M William Sermons, Delvin Davis, Sarah Wolff , Sonia Garrison and Susanna Montezemolo

A series of studies on how predatory lending undermines the financial security of U.S. households

Modernizing Asset Limits: Promoting Savings, Simplicity, and Self-Sufficiency

New America Foundation

A project of the New American Foundation, this website is designed to help build understanding about how caps on savings that preclude receiving public assistance in the form of SNAP (Food Stamps), TANF, and LIHEAP have counterproductive effects. These can include discouraging saving, increasing financial insecurity, and making it harder to achieve financial independence for low-income families. Users of this site can search by state to better understand the complexity of asset limits for specific programs and learn how programs in their communities compare to the rest of the country.

Foreclosure Prevention Resource Center

The Foreclosure Prevention Resource Center is an online resource of the Urban Affairs Coalition of Philadelphia, offering resources to homeowners trying to protect their homes from foreclosure and to helping professionals in the community. The site has resources such as a foreclosure prevention guide, a chart on the effects of foreclosure, and contacts with connection to foreclosure prevention.

Financial Capability Institute

Center for Financial Services Innovation

The Financial Capability Institute website is an online resource from the Center for Financial Services Innovation (CFSI) that provides nonprofits with resources to learn how to integrate high-quality financial mechanisms into their organization. The website offers information on the financial capability approach, nonprofit self-assesment tools, and other tools and resources to connect organizations with product partners.

The Rise of Community Wealth Building Institutions

More people are turning to economic alternatives in which new wealth is built collectively and from the bottom up

Crossposted from Policy Network, and later published on the London School of Economics website, this blog is part of a debate event hosted by Policy Network in London, UK, that was reviewed in OurKingdom by grassroots activist James Doran:    

Five years after the financial crisis economic inequality in the United States is spiraling to levels not seen since the Gilded Age. While most Americans are experiencing a recovery-less recovery, the top one per cent of earners last year claimed 19.3 per cent of household income, their largest share since 1928. Moreover, income distribution looks positively egalitarian when compared to wealth ownership.

Annual Conference on Financial Education

April 9th, 2014 to April 11th, 2014
Royal Sonesta House, New Orleans, LA