Inside: Highlighting the CDFI Serving Native Communities, the Center for Disability-Inclusive Community, and Prosperity Now's Plans for 2020 From the Guest EditorDear Community Partners and Friends, It’s hard to believe that my first few months at Prosperity Now are behind me! It has certainly been a productive and meaningful time—both in familiarizing myself with all the great work we do and with the dedicated Prosperity Now staff. I am excited to share with you what I have learned so far, as well as some of my hopes for the future. I have a deep and personal connection to this work. One of my vivid childhood memories is of my mother looking out the window of our small house in one of the poorest neighborhoods in North Minneapolis. Outside, in the dead of winter, men were standing around a backhoe digging up the street to turn off our gas main. That night my mother and her five children spent the coldest night of the year in the main room upstairs under heavy blankets in front of a small electric heater. We clung to the bottom of the safety net; we were always living on the edge. We survived with some support from my grandparents and other relatives, rummage sales for clothes and furniture, food stamps and free and reduced lunch at school. I was fortunate that my mother focused on my education and taught me that anything is possible with a positive mental attitude. I was also fortunate to have people in my life who made a big difference. I finished college, went to graduate school, and now use my skills, talents and abilities to make a difference for others. I am grateful to have the opportunity to serve as the President and CEO of Prosperity Now, an organization dedicated to ensuring that everyone in our country has a clear path to financial stability, wealth and prosperity. Over the past few months, I have worked with and listened to our Leadership Team, Board and staff to chart our course forward. I have also attended a number of convenings in the field, learning and listening from people on the ground doing this work. In my interactions with organizations in the field, I know there is a deep interest in the future of the organization under my leadership. I have also learned that it is our community partners and friends who are making this work happen on the ground. The power of our network is strong and we have a good foundation to build a successful movement of financial inclusion for low and moderate income people. I wanted to take this opportunity to provide you with a glimpse of my plans for Prosperity Now over the next few months. This includes:
Our theme is “nothing about us without us”. Therefore, we want to ensure that our Community partners and friends play an integral role in the development of our strategic refinement. I am asking for your help in providing your thought leadership, feedback and input in the strategic refinement process. The focus of this work is to improve Prosperity Now’s reach, scale and impact for low-and-moderate income people. Please take the time to respond to our inquiries, surveys and focus groups that will occur in the second and third quarters of 2020. We look forward to strengthening our work together by keeping our eye on the prize to ensure that everyone has the opportunity to prosper. With great appreciation, If you have any items you’d like to see featured in future Community Bulletins, share them with us at [email protected]. HighlightsCDFI of the Tohono O’odham Nation Protects Members From Undue Financial BurdenThe Community Development Financial Institution of the Tohono O’odham Nation (CDFI TON) fully understands that Native communities have unique financial and economic needs, including exclusion from mainstream financial services like banking, credit and loans. In Arizona, where CDFI TON is located just outside Tucson in Sells, there are very few government or nonprofit services that target the Tohono O’odham Nation directly, according to their CEO Stanley Gilmore Ruiz. The Nation, after seeing the economic distresses of the community, including high unemployment, few microbusinesses and lack of economic mobility, opened CDFI TON in 2004. Since then, they have been serving 33,000 Tohono O’odham Nation members by extending business, personal, education, auto and other loans and credit to applicants. In addition to its lending services, CDFI TON provides financial education and business support, especially to young adults, as well as Volunteer Income Tax Assistance (VITA). Read More National Disability Institute Launches the Center for Disability-Inclusive Community DevelopmentNational Disability Institute’s Center for Disability-Inclusive Community Development officially launched this summer to improve the financial health and well-being of low- and moderate-income (LMI) individuals with disabilities and their families by increasing awareness and usage of the opportunities and resources available under the Community Reinvestment Act (CRA). People with disabilities make up a significant part of the LMI population, yet the specific needs of this sizable subpopulation are often overlooked in CRA opportunities. The Center’s activities began with a five-part webinar series that featured Center staff, federal regulators and national experts on inclusive community development. Read More Kentucky’s Frontier Housing Takes the Stigma out of Manufactured HousingFrontier Housing is one of the largest builders of affordable homes in eastern Kentucky. In addition to building homes, they also provide services such as free financial counseling, mortgage lending options, home repair and rehabilitation and more. One unique aspect of their work is their energy efficient manufactured and stick-built homes. October was Manufactured Housing Anti-Stigma month, and Frontier Housing is a strong example of why manufactured homes can be a pathway to creating financial stability. Read More Resources from Across the CommunityYour Money, Your Goals: Focus on Native Communities | Consumer Financial Protection Bureau Hispanic-White Racial Wealth Gap Infographic | Black-White Racial Wealth Gap Infographic | Asset Building Policy Network Financial Well-being by State | Consumer Financial Protection Bureau When A Job Isn’t Enough: Employee Financial Wellness and the Role of Philanthropy | Asset Funders Network The State of Working Connecticut | Connecticut Voices for Children On the Frontlines | Prosperity Now Opportunities and EventsOpportunitiesPrepare + Prosper is recruiting over 400 volunteers for the 2020 tax season. Positions include tax preparer, intake specialist and financial advocates. To learn more and get involved click here. Economic Opportunity Challenge is awarding $10 million to scale a data driven solution aimed at expanding economic opportunity for low-income individuals and families in the U.S. Register by January 28, 2020. Applications are due by February 18, 2020. Learn more here JobsHUD Certified Housing Counselor | Hispanic Unity of Florida | Hollywood, FL Workforce Development Job Placement Coach | Hispanic Unity of Florida | Hollywood, FL EventsClosing the Women’s Wealth Gap: A Life Cycle Approach | Philanthropy New York | New York, NY | December 3, 2019 2019 Solutions for Affordable Housing | National Housing Conference | Washington, D.C. | December 3-4, 2019 Save the Date: Puget Sound: Creating Solutions Together for Racial Wealth Equity | Asset Funders Network | December 13, 2019 Webinar: Reaching Community Members with Sustained Debt Earlier | Prosperity Now | December 3, 2019 Webinar: Children’s Savings Account Learning Series | Prosperity Now | December 17, 2019 Webinar: Financial Coaching Network Peer Bi-Monthly Call |Prosperity Now| December, 2019 Portland NeighborWorks Training Institute | NeighborWorks | Portland, OR | December 9-12, 2019 Webinar: Local Credit Counseling Agency Innovation | Prosperity Now | January 16, 2020 Save the Date: Credit Building Symposium | Credit Builders Alliance | Washington D.C. | June 17 – 19, 2020 Save the Date: National Urban League Conference | National Urban League | Houston, TX | August 5 – 8, 2020 Save the Date: The 2020 Prosperity Summit | Prosperity Now | National Harbor, MD | September 30 – October 2, 2020 Policy UpdatesAsset LimitsSupplemental Income Restoration Act, S 2753, was introduced into the U.S. Senate. This bill would increase the asset limits for Social Security recipients. Read more Financial Empowerment Funds (CFEF)The California Governor signed SB 455 into law. This bill created the California Financial Empowerment Fund (CFEF) which will, until January 1 2025, allocate $4 million to support California nonprofit organizations providing financial education and financial empowerment resources to residents of California. Manufactured HousingAn expanded version of the Department of Housing and Urban Development (HUD) Manufactured Housing Modernization Act of 2019, S 1804, was included in one of the U.S. Senate’s FY2020 Appropriations bills. Read more Children’s Savings AccountsIllinois signed HB2237 into law, which will open 529 college savings accounts with a $50 seed deposit for every child born in Illinois after December 31, 2020. |