partnerships building strong foundations America Founding Sponsor Profiles of local Dollar Wi$e campaigns across

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1 Profiles of local Dollar Wi$e 2006 partnerships campaigns across building strong foundations America Founding Sponsor U.S. CONFERENCE OF MAYORS COUNCIL FOR THE NEW AMERICAN CITY

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3 2006 partnerships N A T I O N A L D O L L A R W I $ E C A M P A I G N

4 DOLLAR WI$E The goal of the U.S. Conference of Mayors National Dollar Wi$e Campaign is to encourage the development of ongoing local financial literacy strategies to educate citizens about financial issues. With improved personal income, money management, and planning skills, citizens are in a better position to accumulate and retain wealth, own homes, raise healthy families, educate their children, and invest in small businesses.

5 contents The Dollar Wi$e Campaign By joining the Dollar Wi$e Campaign, mayors agree to organize and implement local financial education programs in their communities using materials supplied by members of the U.S. Conference of Mayors Council for the New American City. Mayors are strongly encouraged to support and enhance existing financial education opportunities that may already be underway within their communities. The campaign focuses on the areas of education, credit card and debt management, savings, and homeownership. Capacity Grants Program Presented by Countrywide In 2005, Countrywide Financial Corporation, the founding sponsor of the Dollar Wi$e Campaign, formed a strategic alliance with the U.S. Conference of Mayors to enhance the Dollar Wi$e Campaign and to create the Dollar Wi$e Capacity Grants Program. Through Countrywide s donation totaling $1,000,000 over five years, the Dollar Wi$e Capacity Grants Program was created. Grants are awarded to mayors and cities that have demonstrated success within their existing financial education campaigns and are seeking to increase capacity through expanded programs and services. Information on the Capacity Grants Program can be found on the Dollar Wi$e Web site, Bolingbrook, Illinois 1 Bowling Green, Kentucky 3 Brockton, Massachusetts 5 Cedar Rapids, Iowa 7 Detroit, Michigan 9 Harvey, Illinois 11 Hollywood, Florida 13 Orlando, Florida 15 Providence, Rhode Island 17 Quincy, Illinois 19 Reno, Nevada 21 San Francisco, California 23 Santa Barbara, California 25 Sugar Land, Texas 27 Tucson, Arizona 29 Utica, New York 31

6 Bolingbrook, Illinois Mayor Roger C. Claar C O N T A C T Michael Evans mevans@bolingbrook.com partnerships The goal of Bolingbrook s local Dollar Wi$e campaign is to reach out to three main sectors of the community: youth, first-time homebuyers, and senior citizens. Within each of these sectors there exists a financial literacy need that is not being addressed. The most financially at-risk are high school graduates who are uninformed about financial literacy. First-time homebuyers usually become so burdened by this new expense in their lives that they forget about the importance of retirement planning. Finally, senior citizens, not only in Bolingbrook but across the country, are becoming more and more financially burdened by the cost of automobiles, prescription drugs, health plans, and other unforeseen expenses due to the increasing life span. Senior citizens need to be aware of financial opportunities like low-risk investments, equity loans, and reverse mortgages. Partnerships Community Service Counsel (CSC) CSC acts as the village s service provider for housing counseling and reverse mortgage. The local Dollar Wi$e campaign leverages Community Development Block Grants (CDBG) dollars plus general revenue from the Village of Bolingbrook to assist the CSC in performing these tasks. Citizens Financial Services A local bank in Bolingbrook agreed to be a cosponsor with the Village of Bolingbrook for the community s 2006 Dollar Wi$e campaign. First-time homebuyers The village sponsored two activities that addressed two of its Dollar Wi$e target groups. Both have been in cooperation with the nonprofit Community Service Counsel. Since 2001, the Village of Bolingbrook and the CSC have sponsored a housing and financial counseling workshop for first-time homebuyers and anyone else who is interested. Over 1,000 people have attended meetings, classes, and budget reviews with a certified housing counselor to help decide what home they can afford. This program has received numerous acclamations from the U.S. Department of Housing and Urban Development (HUD). Senior citizens As part of the local Dollar Wi$e campaign, the village and the CSC sponsored the Reverse Mortgage orientation for senior citizens. This program allows seniors to learn about accessible income that is available to them based on the value of their home. The realities of longer living and programs such as Reverse Mortgage have allowed seniors to take vacations, pay off medical debts, and live virtually debt free for the rest of their lives. The Village of Bolingbrook and the Community Service Counsel make use of materials and information provided by HUD as well as local financial institutions. Youth Bolingbrook is a relatively young community both in existence and median age served by five school districts with a growing student population. With financial and staff resources from the Citizens Financial Services, Bolingbrook showcased the Beyond the Free T-Shirt: Dangers of College Credit Cards program for high school seniors.

7 Students already know that credit cards will be available the moment they step foot on a college campus and that they will be able to buy nights out, fancy dorm room decorations, and highpriced electronics. They don t want to be bored with the dangers. However, talking to them in a relaxed atmosphere provides a forum where they might just listen. Presenting them with real life cases of students that are tens of thousands of dollars in debt before student loans are added might make them listen about the dangers of college credit cards. Students already know that credit cards will be available The program is a first of its kind in Bolingbrook s local the moment they step foot on a college campus and that they schools. Thousands of graduating seniors enter college with will be able to buy nights out, fancy dorm room decorations, minimal knowledge of financial literacy. Bolingbrook s approach and high-priced electronics. They don t want to be bored with to the subject is not only informational but is fun and encourages the dangers. However, talking to them in a relaxed atmosphere provides a forum where they might just listen. Presenting them with real life cases of students that are tens of thousands of dollars in debt before student loans are added might make them listen about the dangers of college credit cards. participation. After the successful first year educating high school seniors, the village hopes that other schools will participate and turn this into an annual event held either before graduation as a requirement or during the summer before college starts. National Dollar Wi$e Campaign 2

8 Bowling Green, Kentucky Dollar Wi$e Bowling Green Mayor Elaine Walker C O N T A C T Carol McClure carol.mcclure@bgky.org 2006 Capacity Grant Recipient partnerships A 1998 survey of 1,509 high school seniors in America showed that students are under-informed about the basics of finance and leave high school without the skills they need to thrive in a world driven by complex financial factors. In response, the City of Bowling Green has teamed up with area high schools and Junior Achievement (JA) in an effort to raise the financial literacy of high school freshman. Using JA s curriculum Personal Finance, the students learn about five major finance management themes: income, money management, spending and credit, savings and investing, and risk management. A local business volunteer teaches a session once a week for six to eight weeks. The program reaches out to even more youth through the YESS! Society (Youth Empowerment and Self-Sufficiency) offered at Girls, Inc. Public outreach through vital partnerships In addition to local high schools and Junior Achievement, another important partnership has been formed with the local spouse abuse center, Barren River Area Safe Space, and the International Center. Both have received grants to promote savings by developing IDAs. Together, the coalition provides free assistance with tax filing and promotes the EITC. Public outreach continues through workshops on the importance of credit reports and scores, budgeting, and savings. Individual credit counseling and semi-monthly credit and budget classes are offered. The city works to promote down payment assistance programs and 100% financing programs. Each June, the city sponsors the Affordable Homeownership Festival while it conducts homeownership workshops and counseling throughout the year. Getting started To get its financial education campaign started, the City of Bowling Green worked with interested community agencies and businesses to determine what financial education programs were currently offered and gaps in existing services. The main

9 issues identified include a need to better educate youth; a high bankruptcy rate, where one of every 24 households filed for bankruptcy last year alone; and a homeownership rate of only 47%. In turn, the following goals were set: educating youth as a long-term solution; teaching residents to become better consumers; and promoting and enabling homeownership. The first year of the city s Dollar Wi$e campaign has been busy, filled with meetings between the city staff and the community. It is the first collaborative effort of its kind in Bowling Green to promote, coordinate, and develop ongoing financial education programs. Response from community partners and residents has been tremendous. For all ages and income levels The city doesn t plan to stop there. The local newspaper, the Daily News, publishes a biweekly article on money management in its new Dollar$ and Sense series. It is working with its many partners, which include banks and other financial institutions, Junior Achievement, the city s Department of Housing & Community Development, BRASS, the International Center, and HANDS, Inc., to continue to promote financial literacy. They are focusing on broader marketing and publicity techniques to ensure participation from a variety of residents. They are not limiting their campaign. Rather, their goal is to provide a variety of financial education programs for all ages and income levels. Those with assets are more economically secure, have more options in life, and can pass on opportunities to future generations. National Dollar Wi$e Campaign 4

10 Brockton, Massachusetts Brockton Housing Partnership Mayor James E. Harrington C O N T A C T Moises M. Rodrigues mrodrigues@ci.brockton.ma.us The Brockton Housing Partnership is an alliance of financial institutions, community banks, and credit unions working in cooperation to improve economic conditions in the City of Brockton. This is accomplished through their own financial resources and aggressively pursuing as a separate entity funding to educate the residents in money management, financial literacy, first-time homebuyer workshops, credit counseling, and personal finance to young adults through The Credit for Life Program. What makes this partnership unique is that the financial institutions asked the government agencies to join them in their efforts, embracing the expertise of the mayor s human services director, Brockton Housing Authority, Homelessness Alliance, Brockton Redevelopment Authority (which manages the city s Community Development Block Grants allocation), Neighborhood Housing Services of the South Shore, South Shore Housing Development Corporation, Money Management International, and Fannie Mae. The Partnership s initial efforts focused on financial literacy aimed at improving homeownership. First-time home buying workshops were conducted through the local community development corporation. Additionally, credit-counseling sessions were held for those who needed to repair their credit records. The young adults are put into the life of a 25-year-old adult. They are then given financial scenarios and required to visit 12 booths, staffed by 80 volunteers, where they can make budget decisions. The booths include housing, furniture, health and nutrition, clothing, transportation, savings and retirement, credit and lending, insurance, career counseling, luxury, education, and chance. At the end of the event, they must have their budgets evaluated at a credit counseling booth. The financial ah ha s are stark for these young people, leaving many of them with a different perspective as they graduate from high school. What is of even greater interest is that Brockton s public school population is over 50% minority, many of whom live below poverty level. With the city s diversity, communication barriers have kept many residents from participating in financial literacy programs. A strong and comprehensive teaching program has been developed with the partners, many of whom have bilingual staff members to reach the previously unreached communities in the city. The Partnership uses the Federal Deposit Insurance Corporation s Money Smart curriculum, which is a ten-module program that teaches the basics of personal finance from understanding banking through budgeting, managing a check account, the fundamentals of credit through homeownership partnerships Credit for Life The Partnership increased its efforts in financial literacy by offering numerous programs teaching young adults the basics of personal finance. Credit-For-Life, a nationally recognized program, provides a one day program in financial counseling to many young people 300 this year alone from area high schools. Partnerships The Partnership consists of seven banks Rockland Trust Company, Sovereign Bank, The Community Bank, Security Federal Savings Bank, Eastern Bank, North Easton Savings Bank, The Bank of Canton and three community-based credit unions, HarborOne, Crescent, and Uniti. Government agencies including

11 The young adults are put into the life of a 25- year-old adult. They are then given financial scenarios and required to visit 12 booths, staffed by 80 volunteers, where they can make budget decisions. The booths include housing, furniture, health and nutrition, clothing, transportation, savings and retirement, credit and lending, insurance, career counseling, luxury, education, and chance. At the end of the event, they must have their budgets evaluated at a credit counseling booth. The financial ah ha s are stark for these young people, leaving many of them with a different perspective as they graduate from high school. the city, the Brockton Redevelopment Authority, and the Brockton South Short (a Neighborworks affiliate), South Shore Housing Housing Authority are members. Local non-profits include the Development Corporation, Money Management International, Homelessness Alliance, Neighborhood Housing Services of the and Fannie Mae. National Dollar Wi$e Campaign 6

12 Cedar Rapids, Iowa MidAmerica Housing Partnership Mayor Kay Halloran C O N T A C T Sasha Richardson yourhome@mahp.net partnerships MidAmerica Housing Partnership: Homeownership and Financial Literacy Education In partnership with former Cedar Rapids Mayor Paul Pate s office, MidAmerica Housing Partnership (MAHP), a private nonprofit community housing development organization, was founded to serve the Cedar Rapids area, and was the coordinator for the Dollar Wi$e Campaign efforts in Cedar Rapids. MAHP s primary mission is to provide affordable housing opportunities for low- to moderate-income renters and homeowners. Financial literacy information is provided in a preparing for homeownership context or in a general consumer information context, depending on the client s needs. MAHP gauges those needs through the Home Path Assessment, which clients complete when they begin working with MAHP. In addition to housing, MAHP helps prepare individuals to maximize their housing and financial goals through counseling, both one-on-one and in groups, and education. The partnership administers a down payment assistance program and the Iowan s Save Assets for Independence program. MAHP has also started an informational campaign targeting predatory financial practices. Financial Education Fair MAHP partnered with local businesses and agencies and facilitated a financial education fair at the Westdale Mall. MAHP invited local businesses to host booths to offer the public information on responsibly managing their finances, as well as information on becoming a homeowner. The fair offered free consumer education workshops throughout the day, with workshops such as Understanding & Interpreting Credit Reports, Creating & Following a Budget, What can Consumer Credit Counseling Services do for You?, and Filing for the Earned Income Tax Credit. MAHP takes a long-term service approach to financial education. Clients who come to MAHP for rental housing have the opportunity to take their classes, use their down payment and savings programs, and eventually become homeowners. The same approach is used for clients who are not living in rental properties but voluntarily come to better themselves financially. MAHP utilizes MISIDA, a data management program that allows them to update and organize information from clients who are participating in the Assets for Independence individual development account (IDA) program. Each client has his/her own file where the financial situation is recorded. Clients set goals at the beginning of counseling, such as creating a budget, getting a credit card, rebuilding a credit score, finding a home or getting a mortgage loan. MAHP is notified each time a goal is reached. The Homebuyer s Club brings together those who are working toward the common goal of homeownership. In addition to regular quarterly meetings, it also meets and celebrates each time a member reaches his/her goal of homeownership. In addition to providing education, MAHP is also a community development organization and property management corporation, so it can provide low-income families with a decent, affordable place to live while they learn to get their finances in order and prepare themselves for homeownership. START Program The idea behind the START Program is that those who need help

13 and housing the most will be closely monitored and educated about financial responsibility. MAHP tenants tend to have a higher need for affordability and skills such as budgeting and understanding credit. To serve the needs of this population, they rent their units a below market rates. Because of past rental history or credit problems, some of their tenants are assigned to the START program, and must agree to attend courses, seminars, workshops or training as deemed appropriate by MAHP staff. Ideally, a tenant would participate in the START Program, below 110% of the Area Median Income. MAHP encourages homeownership as a primary way for low-income families to begin to build wealth. MAHP can help individuals through every step of the home buying and/or financial rebuilding process. MAHP provides different down-payment/closing cost assistance programs to help with those costs, as well as some opportunities for soft-second mortgages. MAHP partners with community organizations such as Iowa State Extension Services, local Realtors and lenders, Iowa Legal Aid, New Horizons, Family MAHP partnered with local businesses and agencies and facilitated a financial education fair at a local mall. The event offered free consumer education workshops throughout the day, with workshops on topics such as credit reports, budgeting, consumer credit counseling services, and the EITC. In addition to its regular quarterly meeting, it meets and celebrates each time a member reaches his/her goal of homeownership. successfully graduate from the program by completing classes, Services, Hawkeye Area Community Action Program, Cedar complete the Homebuyer Certification Course, and eventually Valley Habitat for Humanity, Iowa Finance Authority, and the City become a homeowner. Because of MAHP s capability to do one- Housing Authority to deliver relevant information and instruction on-one counseling with these tenants, they are able to learn and build a rapport with would-be homebuyers. exactly what they have to do to put themselves in the position that will prevent termination of tenancy and prepare them to buy a home at the best possible price and interest rate. MAHP also rehabilitates existing housing units and builds new homes targeted at households with incomes at or Because MAHP is one of many social service agencies in Cedar Rapids, but the only one that provides homeownership education, MAHP has partnerships with many other agencies in the city and receives referrals from these other agencies on a daily basis. National Dollar Wi$e Campaign 8

14 Detroit, Michigan Dollar Wi$e Detroit Mayor Kwame M. Kilpatrick C O N T A C T Kizzi Montgomery montgomeryk@mayor.ci.detroit.mi.us 2006 Capacity Grant Recipient partnerships A strong foundation Interagency collaboration, program integration, and intergenerational groupings have created a strong foundation for Detroit s Dollar Wi$e initiative. The city has partnered with the Child Care Coordinating Council of Detroit/Wayne County (4C), the Detroit Homeownership Counseling Collaborative (DHCC), the Alpha Kappa Alpha international women s sorority, and a local church to coordinate financial literacy programs and educate the public on money management. Once participants demonstrate a need for money management skills and credit repair techniques, a holistic assessment of service/learning needs allows the coalition partners to tailor their educational programs to each individual. The program curriculum seeks to develop multiple awareness and skill sets in each learner. A community breakfast, underwritten by Charter One Bank, helped raise awareness of Detroit s Dollar Wi$e activities. Over 100 attended, representing many community groups, including Mayor Kwame Kilpatrick, the U.S. Conference of Mayors, and the InCharge Foundation. Photo coverage of the event in a local newspaper as well as follow-up contacts with individuals and organizations that attended or saw the publicity continued to spread the word. Education begins with instructing the trainers who will go out and teach residents the skills they need to gain better financial footing. Train-the-Trainer program participants represent a broad cross-section of the community, including bankers, community-based nonprofit organizations, churches, realtors, educators, corporations, and neighborhood residents. Many come with the intent of infusing Dollar Wi$e into their client, customer, and community training programs. Intergenerational groupings From there, greater community outreach can begin. The collaborative work between the Alpha Kappa Alpha sorority and a local church provides an excellent illustration of what s going on in Detroit. Together, the sorority and the church formed an intergenerational group which not only helped members to be trained and better educated in money matters but also allowed participants to share their wisdom and unique insights and perspectives. Senior members of the group emphasized to younger participants the need to focus upon saving, controlled spending, and reducing one s emphasis on the accumulation of material things. Those with small children were encouraged to nurture their children, provide quality time experiences, and invest for education and retirement. On the other hand, seniors learned new ways to manage their monthly retirement, pensions, and Social Security accounts. For example, younger group members recommended replacing landlines with cell phones, a move that would eliminate long-distance billing and that would help reduce telephone costs within limited budgets. Group participants ranged in age from teens to senior citizens. The mixture of ages within the group allowed the more youthful members to express their ideas and understanding of innovative ways to minimize outputs for services. All who participated continue to acknowledge the positive impact the training has had on their attitude and management of their finances.

15 The Detroit Homeownership Counseling Collaborative provides another illustrative example. The collaborative wanted to provide training for people interested in qualifying for the purchase of a home. Using the Dollar Wi$e curriculum, participants learned the steps to reach their homeownership goals. As a collaborative partner with DHCC, 4C was able to introduce additional opportunities, a process which resulted in some participants enrolling in 4C parenting and/or computer classes and receiving service referral assistance. Education begins with instructing trainers who will go out and teach residents the skills they need to gain better financial footing. Participants represent a broad cross-section of the community, including bankers, CBOs, churches, realtors, educators, corporations, and neighborhood residents. Many come with the intent of infusing Dollar Wi$e into their client, customer, and community training programs. Mayor Kilpatrick accepts his city s Dollar Wi$e Capacity Grant at the U.S. Conference of Mayors annual meeting in Las Vegas, June National Dollar Wi$e Campaign 10

16 Harvey, Illinois Mayor Eric Kellogg C O N T A C T LaTonya Rufus lrufus@cityofharvey.org To help bring residents out of poverty, Mayor Kellogg has been dedicated to providing financial literacy and educational programs to students, seniors, employees, and local business owners. The City of Harvey is a growing community, and during the next two to three years it plans to become a financially stable community. However, financial stability will not exist if residents are not well versed in financial planning, the benefits of saving money, and investment strategies. Therefore, the City of Harvey has partnered with various agencies to assist in obtaining the mayor s goals to reach all of the target audiences. First-time homebuyer seminars The City of Harvey works with the Community Economic Development Agency (CEDA), to provide first-time homebuyer seminars. CEDA is a local non-profit organization that provides many social services to the residents of Harvey. These programs provide the guidelines of obtaining a mortgage and the process of becoming a homeowner. Predatory lending A predatory lending seminar was cosponsored in February 2006 by the St. Mark Missionary Baptist Church in Harvey. Over 100 Harvey residents attended. Representatives from the state legislature and local banks discussed the predatory lending practices in an impoverished community. Investment/retirement Ariel Management and Citi Financial Group conducted investment seminars and retirement planning for employees of the City of Harvey. They also provided information regarding additional retirement plans and strategies as well as on various investment opportunities. Managing money How to Manage Your Money utilized a partnership with 5/3 Bank. The branch manager of the local bank met with Harvey employees to discuss money management skills, the benefits of proper money management, and managing checking and savings accounts. The community investment and financial planning seminar for local businesses, banks, and contractors was a partnership between the City of Harvey, Harvey Area Chamber of Commerce, 5/3 Bank, Mutual Bank, Citizens Financial Bank, and Outreach CDC. This seminar provided dialogue among local businesses while discussing financial plans for businesses, obtaining loans, and managing business finances. The tax exemption and preparation seminar for seniors is a program established by the mayor and Cook County Assessor Houlihan s office to provide information to seniors regarding the savings that can be provided to them on their property taxes partnerships These programs have bridged the gap between the community and local government.

17 by obtaining senior exemption status. There is a senior liaison coordinator from the tax assessor s office who comes to the municipality and provides information and assistance to the seniors of Harvey. Financial planning and bank account management for students Mayor Kellogg is an educator and believes in offering programs to youth in order for them to transform into responsible adults. These programs were conducted by Foster, Green, and Morgan to provide information to Harvey youth regarding credit card consciousness, making good decisions prior to spending money, opening a bank account, and properly managing checking and savings accounts. The community s youth spend numerous hours at the Harvey Community Center and parents are involved to ensure that their children receive the intended information and practice the procedures involved in proper financial management. These programs have never been conducted before within the City of Harvey. The mayor has linked the city with many individuals that are seasoned and professional financial planners, managers, and bankers. The various types of programs that are established are very successful in meeting the needs of the target audience. The seniors, employees, local business owners, and youth who have participated in these programs and seminars have truly benefited from the programs. The city has an inclusive form of government that works diligently to provide financial literacy and educational program to the targeted audiences. The city will continue to perform additional outreach programs in the various wards and sections of the city to provide this information to more Harvey residents. The continued display of concern from the mayor for the financial stability of his employees and community will ultimately bring about behavioral changes due to the ongoing programs that have been established. The continued need for programs and the mayor s desire to educate his residents and employees will provide the mayor and staff with the endurance needed to make this project a success. The city plans to expand its offerings and have seminars more often to increase residents particularly seniors knowledge of financial planning. The city is looking to partner with a few other local agencies and expand the programs that are currently offered and begin to meet the needs of everyone in the community. Currently, the change in economic status of the city s employees and residents indicated in census data shows that Harvey has made some major changes regarding financial education and information. In addition to tracking trends in census data, the city has follow-up meetings with its employees to revisit their progress after receiving the information that has been presented. The City of Harvey has organized many programs to assist individuals with making better purchases, preparing for retirement, and saving money. These programs have bridged the gap between the community and local government. There has been an increase in first-time homebuyers under the Kellogg administration; employees have become better investors; and the Harvey Community Center staff has received good reports from parents regarding their students excitement and need to be concerned about their finances. In all, over 500 citizens participated in the programs during 2005 and The continued display of concern from the mayor for the financial stability of his employees and community will ultimately bring about behavioral changes due to the ongoing programs that have been established. National Dollar Wi$e Campaign 12

18 Hollywood, Florida Mayor Mara Giulianti C O N T A C T Jeannette M. Smith jsmith@hollywoodfl.org Every month, first-time homebuyer workshops provide information on financial literacy. The clients of these workshops leave seeing a light at the end of the tunnel. They understand that it is possible to clear up their credit. It becomes clear that with some hard work, they could have a piece of the American Dream: educating their children, owning a home, having a savings account, and simply being able to pay their bills on time. With the quarterly workshop, they open a savings account and create a plan to start saving. The city offers monthly credit repair, credit maintenance, budgeting, savings, investments, retirement, entrepreneurship, and preparing for homeownership workshops. The city targets very-low-, low-, and moderate-income families with areas of concern in the areas mentioned previously. It is clear that the target families have determined that personal financial security is one of their most important goals. With our campaign, the public is provided with the right tools and knowledge for improving their financial situation. Partnerships The City of Hollywood has partnered with a number of agencies to promote financial literacy. Hollywood Housing Authority has clients from their Family Self Sufficiency program with a goal of building wealth. Wachovia Bank and AmTrust Bank assist by providing the technical assistance to the residents attending the workshops. The lenders have also created the opportunity for residents to open a savings account at the workshop to promote savings. In addition, the city has partnered with a number of local churches that have their members take part in the financial education. The churches also provide the locations for the educational training. Their assistance turns the event into a social/fun day for the community. American Debt Solutions and the Florida Realistic partner with the city to provide education to the residents. They have a wealth of information to share. Innovation and strategy The financial literacy workshop is advertised every month at the first-time homebuyer and rehabilitation workshop. An invitation is sent to all residents who signed up and expressed an interest in receiving additional financial education. Printed brochures are then made and posted in public areas, public offices, city hall, and handed out at civic association meetings. The program s partners also assist in reaching out to the target audience to promote the financial literacy campaign. It has become clear that in order to eliminate the pattern partnerships It becomes clear that with some hard work, they could have a piece of the American Dream: educating their children, owning a home, having a savings account, and simply being able to pay their bills on time.

19 of doing like mom did, the youth must be targeted. During two In working with the financial literacy program over the of the quarterly workshops there was a family fun day in the park with food, fun, entertainment, and financial educational training. This program has been very successful because it helps families identify areas of financial planning and then they are given the tools to take steps toward managing their financial future. last two years, it has become evident that having the right tools and knowing how to use them can give families confidence to take charge in managing their finances. The city s goals are to equip the residents with the resources and knowledge to expand their financial opportunity to become well-rounded citizens. National Dollar Wi$e Campaign 14

20 Orlando, Florida Mayor Buddy Dyer C O N T A C T Beryl H. Berri Davis Beryl.Davis@cityoforlando.net partnerships Orlando has a population of 198,000 and an average household income of $47,000. Sixteen percent of its residents live below the poverty level and 27% of the city s children under the age of 18 live below the poverty level. African-American residents have the highest incidence of poverty, with 49% living below the poverty level. The city is working to meet the needs of its citizens, to reduce poverty, and to build family economic self-sufficiency. The City of Orlando offers an array of programs to help its residents achieve these goals. 1. The city partners with the Orlando Regional Chamber of Commerce, Orange County Government, and the Edyth Bush Charitable Foundation in operating the ExtraCredit Campaign. This is the second year of a three-year campaign. The campaign utilizes a Business-to-Business model, focusing on Orlando s top 250 employers to spread the word about the Earned Income Tax Credit (EITC). In its first year this project reached 365 employers and 375,000 employees. 2. The city coordinates and supports 22 Volunteer Income Tax Assistance (VITA) sites throughout Orlando and Orange County serving families with less than $36,000 a year. In 2005, VITA served 748 taxpayers and brought $1,034,561 in EITC. 3. A Super Saturday Economic Assistance Fair was held on January 28, InCharge Education Foundation brought counselors who provided free credit reports and financial counseling. In addition to having their taxes prepared for free, low-income workers had access to information about children s health insurance, affordable housing opportunities, credit counseling, financial literacy materials, and more Orlando is committed to improving housing conditions for low- and moderate-income residents. It has established programs to rehabilitate existing homes and to increase homeownership through assistance to homebuyers. To complement these programs, the city has created a Home Buyer s Club that will provide homeownership counseling to future homebuyers in a targeted low-income neighborhood. As one of nine cities across the nation chosen to participate

21 juvenile crime and child abuse rates by funding programs that will help residents rebuild their families and their future. Parramore Kidz Zone links children to existing programs The city coordinates through grassroots marketing. Its outreach team assesses neighborhood children s needs systematically and develops a plan of action for each child. A hotline manned by the outreach team provides a single point of access to enroll Parramore children in programs. The city believes that and supports 22 Volunteer Income Tax Parramore s children will greatly benefit from a financial educational program developed for their parents. Therefore, a financial education component of this program is being developed in collaboration with InCharge that will focus on their needs and expectations and encourage them to learn Assistance (VITA) sites throughout the community more about managing their finances and practicing financial literacy with their children. Partnerships Orlando s campaign consists of a partnership that involves serving families with less than $36,000 a year. In in the National League of Cities Building Family Assets public, philanthropic, for-profit, and not-for-profit sectors. The Orlando Regional Chamber of Commerce offers a wide range of outstanding business programs throughout the seven-county region, and leads the ExtraCredit Campaign together with two other partners Orange County and the Edyth Bush Charitable 2005, VITA served 748 taxpayers and brought initiative, a team of senior city staff is developing a multipronged strategic plan to address asset-building strategies. Foundation. In addition, AARP, Bank of America, the Internal Revenue Service, Florida Institute of CPAs, Association of Latino $1,034,561 in EITC. 6. Last year, Orlando Mayor Buddy Dyer created the Parramore Kidz Zone. This initiative focuses on creating positive child-rearing conditions in the Orlando neighborhood of Parramore. Major goals include lowering teen pregnancy rates, improving school performance, and decreasing Professionals in Finance and Accounting, LYNX transit, and the Legal Aid Society of the Orange County Bar Association, Inc., have all been instrumental in providing services and assistance to the City of Orlando s VITA sites, providing tax preparation and training to the VITA volunteers. National Dollar Wi$e Campaign 16

22 Providence, Rhode Island RI Kids Count Mayor David N. Cicilline C O N T A C T Ann S. Gooding x agooding@providenceri.com partnerships Providence is New England s second-largest and fastestgrowing city. There are an estimated 175,000 people in the city, the majority of whom are minorities Hispanic, Asian, and African-American a third of whom have been in this country less than three years. This culturally rich and diverse community faces serious educational, social, and economic challenges for its new residents. With this racial and ethnic diversity comes racial and ethnic disparity. For example, the median family income for a family of four is $24,546, which is less than half of Rhode Island s median income of $50,557. The median income of Hispanic and black families dropped between 2000 and In that same study, the number of children in Rhode Island living below the federal poverty level was well above other New England states at 21%. Among Providence youth, 40.5% are living below the poverty level and 19.9% of children are living in extreme poverty (under $9,903 for a family of four). Racial and ethnic minorities continue to be disproportionately represented in the child welfare and juvenile justice systems. RI Kids Count suggests there are building blocks of economic security, such as: income supports. access to health care. affordable quality child care. affordable housing. educational attainment. financial asset building. These building blocks can help bring families out of poverty, financial literacy being a key component. Building assets can be critical to these families, helping them manage financial crisis or risks from life events. RI Kids Count also suggests that improving financial literacy and encouraging banks to provide affordable services can help families improve their savings. Through its financial literacy efforts, Providence has begun the work of building family supports. The city has used its well-regarded Mayoral Fellowship program which immerses graduate and post-graduate students in areas of public policy to create a simple, effective, and sustainable financial literacy outreach program for both young people and the elderly. Using three Mayoral Fellows to create this program during the summer months two to develop the policy and network aspects, one to create the materials for distribution the city s campaign had a dramatic impact with a relatively short infusion of funds and manpower. It is a plan with a long shelf-life, giving important information to young people and elderly over a period of months and years, and teaching the city s Mayoral Fellows the importance of the effort and the profound impact it will have on others and the community. Both populations are particularly vulnerable to scam artists and predatory lenders, and the opportunity exists to protect both groups fully 1/3 of the city s population by offering them education. Partnerships Greater Providence Chamber of Commerce Informs businesses about opportunities for workers to receive tax credits and reinvigorate the local economy. EITC Coalition A collaborative of community groups helps spearhead educational efforts to urge qualified residents and families to take advantage of the EITC, with a larger, ongoing educational campaign.

23 To be forewarned is to be forearmed so the saying goes, and this city project can accomplish just that. National Dollar Wi$e Campaign 18

24 Quincy, Illinois Paycheck Partnership Mayor John A. Spring C O N T A C T Laura Kent Donahue montfort@adams.net 2006 Capacity Grant Recipient partnerships In 2004, a small group of Quincy citizens considered ways to increase teen financial management. What resulted is a coalition called the Paycheck Partnership which has brought together various groups and individuals from all walks of life in an effort to help high school students establish a solid financial foundation for the future. Local college students volunteer as teachers to provide them with education and mentoring opportunities. After receiving training from staff of the Federal Reserve Bank of St. Louis, the college-student volunteers work to increase teens understanding of their paycheck, how to spend and save wisely, and how to set and reach financial goals. The goal is to inspire conversations among teens, their parents, educators, and the business community about personal financial management. The initial group of citizens included school officials, bankers, local employers, and staff from the Federal Reserve in St. Louis. Today, coalition members include the Quincy Area Chamber of Commerce, the Federal Reserve, the Office of the Mayor of Quincy, Quincy University, and Culver-Stockton College. Encouraging participation Key members of the coalition are Quincy-area employers. Their involvement is vital to encouraging teen participation. Usually the employers pay their teenage workers for their two hours in the Paycheck Partnership class. Additionally, the partnership offers various ways for businesses to encourage teen employee participation, including options such as providing cash or gift certificates. The Paycheck Partnership curriculum was developed by staff of the Federal Reserve Bank, who in turn train the collegestudent volunteers. Training includes an overview of course materials, pedagogy tips, a tour of the Federal Reserve Bank in St. Louis, and a mentoring session with a Federal Reserve employee. The courses are designed to be brief, interesting, teachable in a

25 Local college students volunteer to teach and mentor high-school students on finances, helping to increase the teens understanding of their paycheck, how to spend and save wisely, and how to set and reach financial goals. variety of settings, and include a product that the high schoolers to the initiative and also indicate that the class has made a can take home. This creative approach to teen financial literacy has been met with approval from all sides. Teen participants indicate that attending the class increases their awareness of and interest in financial management. College student trainers are committed substantial difference in their awareness of personal financial management. And building a more solid financial foundation for the future will certainly pay off. National Dollar Wi$e Campaign 20

26 Reno, Nevada Don t Borrow Trouble Mayor Robert A. Cashell C O N T A C T Jill Perry ccanv@aol.com partnerships Right now, 61.3% of current Nevada mortgages are potentially negatively amortized mortgages. Nevada has between times the number of predatory lenders as its neighboring states of California and Utah. Low-income, minimum-wage earners, who constitute approximately 25-30% of Nevada s population, are at high risk for predatory lending practices and stand to benefit from the Don t Borrow Trouble campaign sponsored by the City of Reno. Don t Borrow Trouble is a financial literacy campaign promulgated by Freddie Mac in locations nationwide, including Reno, Sparks, and Northern Nevada. Don t Borrow Trouble is a two-pronged program that combines extensive public education with comprehensive counseling services to help families avoid scams and resolve financial difficulties in an informed manner. Don t Borrow Trouble kicked off its public-education campaign in October 2005 with a press conference. This event was followed by ongoing multiple radio, television, and print advertisements in both Spanish and English media describing the program and the resources available. Don t Borrow Trouble also distributed bilingual brochures; produced public PSAs and a half-hour informational program which continue to air regularly on the public-access channel, radio and television; and advertised the program on billboards in Reno and Carson City. Goals Don t Borrow Trouble aims to reduce and ultimately eliminate predatory lending practices in Northern Nevada. It works to educate the public about the dangers of predatory lending and provides helpful resources. Program participants have access to homebuyer assistance programs offered by initiative partners while learning about good financial management and how to avoid credit and debt problems, such as credit cards, refinancing, payday lenders, and home-equity scams. The program promotes the importance of buying homes that the consumer can afford, ultimately reducing the number of foreclosures. Partnerships Program partners include direct support and in-kind services for media ads and brochures: Freddie Mac, United States Department of Housing and Urban Development (HUD), Nevada Attorney General, Nevada Mortgage Division, City of Sparks, City of Reno, City of Carson City, Citizens for Affordable Homes of Carson City, Washoe Legal Services, Silver State Fair Housing, Wells Fargo, Charles Schwab, US Bank, Radio Lazar, Migual Mana and Simple Graphics, SNCAT television, AHORA and Ensoul newspapers, and Elko Daily Free Press. Innovation Don t Borrow Trouble has leveraged public and private resources to bring the program to the attention of the target service population. Starting with a televised kick-off press conference which featured elected officials, the campaign has utilized various media to carry the message to the public. Strategically-placed billboards; print ads, especially in Spanish publications; and PSAs on radio and television have succeeded in warning vulnerable, atrisk citizens about the dangers of scams and predatory practices. All Don t Borrow Trouble materials prominently feature referrals and contact information for follow-up counseling.

27 Educational forums are the core of the Dollar Wi$e Campaign. To begin the process of setting up a local Dollar Wi$e Campaign, the U.S. Conference of Mayors urges mayors to contact local business leaders, financial institutions, schools, parent groups, senior citizens associations, and faith-based groups to form community partnerships. With your partners, discuss the financial education needs of your community, identify existing financial education programs, and determine the focus of your local campaign. National Dollar Wi$e Campaign 22

28 San Francisco, California Working Families Credit Mayor Gavin Newsom C O N T A C T Amiee Albertson amiee.albertson@sfgov.org partnerships San Francisco is committed to helping low-income residents enter the financial mainstream. In 2005, Mayor Gavin Newsom and City Treasurer Jose Cisneros launched the Working Families Credit (WFC), a local 10% match to the federal Earned Income Tax Credit (EITC). The program was launched to help more San Francisco families learn about and apply for the EITC. As much as $12 million per year is left unclaimed by city residents who are eligible but do not apply for the EITC. In fact, the city estimates that as many as 40,000 families qualify. In 2005, the city received over 10,000 applications for the WFC. These families drew down over $20 million in federal EITC benefits, which the city matched with an additional $2 million. In addition to cash benefits, these families were given the opportunity to open free bank accounts at 14 local banks and credit unions, as well as access free financial counseling. They were also given information on how to sign up for a variety of benefits, including financial literacy training, low-cost medical insurance, food stamps, utility assistance, child care, and other programs. Recognition San Francisco s effort is widely recognized as a model program. December 2004 Mayor Newsom and Treasurer Cisneros announced a $1 million donation from H&R Block to support the Working Families Credit. January 2005 Mayor Newsom and Treasurer Cisneros kicked off the media campaign for the WFC, including public service announcements for radio and television, billboards, bus shelters, and ads on Muni transit buses and trains. The event was covered in the English, Spanish, and Cantonese press. April 5, 2005 Mayor Newsom and Treasurer Cisneros held a press conference ten days before tax day, urging final applications. September 2005 Mayor Newsom and Treasurer Cisneros awarded over $2 million in WFC checks to low-income families who qualified for the EITC and local match. Effectiveness Over 10,000 families have learned how to open free bank accounts, sign up for financial literacy classes, and receive financial counseling over the phone. The city surveyed over 5,000 program applicants from 2005 about their spending habits, financial history, access to health insurance, and demographics. Survey data is being analyzed by Harvard Business School and The Brookings Institution. For 2006, the city will have new comparative data to measure increased EITC claims, as well as new enrollment in city services. The city has a developed a strong relationship with the Goldman School of Public Policy at the University of California at Berkeley to improve program design and evaluation. Partners SFWORKS A local nonprofit that provides job training to low-income workers and assisted in program design and led the program s outreach to other community organizations. H&R Block Donated $1 million to the program, designed and financed all promotional materials, and promoted the program in their branches. United Way and Tax Aid Promoted the program at 30 free tax preparation sites around San Francisco.

29 SFEARN Developed financial literacy criteria for program recipients. ACORN Promoted program to its low-income members. Internal Revenue Service (IRS) Helped design an innovative program application and verified applicant eligibility BALANCE Offered free financial counseling to program recipients. Program organizers met the clients where they lived, worked, and did their taxes. They conducted an extensive, culturally-competent advertising campaign in low-income neighborhoods, using media in English, Spanish, and Cantonese. San Francisco partnered with H&R Block, which prepares over one-third of the taxes for low-income residents, and distributed information through the city s public schools, public housing authority, local unions, public libraries, health clinics, the post office, Safeway, Wells Fargo, Bank of America, Citibank, and numerous CBOs. Two citywide elected officials, Mayor Newsom and Treasurer Cisneros, have helped attract private partnerships and media opportunities as well as secure the trust of program recipients. Innovation Through the WFC initiative, San Francisco actively promotes alternatives to check-cashing outlets, such as direct deposit, and offers free check-cashing at banks and credit unions. The program works to make it easy for recipients to open bank accounts at free tax preparation sites and local banks. The city has used the opportunity of tax-preparation time to encourage recipients to think about savings, asset-building, credit counseling, and benefit programs that help their families, such as food stamps. WFC organizers and city leaders have also developed innovative partnerships with the private and nonprofit communities to create a comprehensive program that ultimately served over 10,000 families. Future goals San Francisco hopes to leverage its Working Families Credit to increase enrollment in three new programs. The first of these is Bank on San Francisco, in which the city works with banks to develop new products to serve the unbanked market. Bank on San Francisco will also help develop financial training programs for the unbanked. The city also hopes to increase enrollment in its food stamps program, which provides for the basic nutritional needs of low-income families. The WFC is also helping to raise the profile of Healthy Kids, the city s health insurance program for low-income families earning less than three times the federal poverty level, who do not otherwise qualify for Medicaid or the State of California s Healthy Families program. San Francisco is committed to helping lowincome residents enter the financial mainstream. National Dollar Wi$e Campaign 24

30 Santa Barbara, California With the City of Santa Barbara Housing Authority s collaborative campaign, Housing Authority residents are provided free educational workshops, free one-on-one private consultations with professionals in related fields, free income-tax preparation, and free electronic filing. These services meet the needs of an underserved portion of the community, namely low-income families, the disabled, and seniors lacking access to these services. media coverage promoting the federal Earned Income Tax Credit, is a collaborative between the Housing Authority, the City of Santa Barbara, and the Internal Revenue Service. The Housing Authority has offered the financial literacy workshops both in English and Spanish, biannually, every spring and fall for the past seven years. Case management and one-on-one consultations occur year-round, as needed. Every year the Housing Authority has enhanced and augmented the workshops it provides and has added more and more community collaborators. Mayor Marty Blum C O N T A C T Mike Hackett mhackett@ci.santa-barbara.ca.us partnerships Financial literacy workshops The Housing Authority s financial literacy workshops provide low-income housing residents with personal financial education with an emphasis on goal setting. Sequential sessions include such topics as budgeting and saving skills, banking services, checking account reconciliation, investments, income taxes, borrowing basics and consumer protection, credit basics, and credit cards. These workshops are prerequisites to the firsttime homeownership class. Professional volunteer instructors are provided by collaborating banks, real estate agencies, and brokerage firms. Each session is offered in English and Spanish. The classes are requirements for participants of the Housing Authority family self-sufficiency program participants as well as participants in the individual development account and individual development empowerment account programs. The VITA (free income tax preparation centers) program is a collaborative between the Housing Authority, the Internal Revenue Service, and Santa Barbara Bank & Trust. The Earned Income Credit Campaign, extensive community marketing and A community s needs Many of the city s low-income, disabled, and senior residents are recipients of the Housing Authority s rental assistance programs and many are monolingual Spanish speakers. Members of the community in these socioeconomic categories do not have access to the financial tools necessary to become economically self-sufficient. Most do not have a monthly budget and have high income-to-debt ratios. Many Housing Authority clients do not have banking relationships and resort to making transactions via cash and/or liquor-store money orders, risking theft and fraud. Oftentimes clients have not established credit. Those clients with credit historically suffer very poor credit ratings. Other Housing Authority participants do not understand their employers retirement plans and consequently do not participate. Among those who do participate, many lack the knowledge to make informed decisions about their investments. Clients also tend not to wholly understand income-tax filing and are subject to predatory tax preparation businesses

31 promising maximum refunds by way of loans disguised as rapidrefunds. Within the VITA program, the Housing Authority also assists individuals who are unable to qualify for a valid Social Security number attain an individual taxpayer identification number (ITIN). With an ITIN, these residents are now able to file their income taxes, establish a bank account, and convert underthe-table businesses into legitimate tax paying businesses. Recognition The offices of Congresswoman Lois Capps and Santa Barbara Mayor Marty Blum have recognized the Housing Authority s efforts by attending the Family Self-Sufficiency (FSS) Awards ceremonies. These ceremonies honor program graduates. In June 2005, the Internal Revenue Service awarded the Housing Authority an award for its Outstanding Contribution to the VITA/TCE Program and to the Community. For three years, the Housing Authority has received ample media coverage from Univision, KEYT, local radio stations in English and Spanish, local newspapers, periodicals regarding the Tax Center efforts, and the FSS Awards ceremonies. Partnerships Collaborations have been formed with government, private, financial, and non-profit/for profit organizations such as the City of Santa Barbara, Federal Deposit Insurance Corporation, Internal Revenue Service, Santa Barbara Bank & Trust, Mid-State Bank, AIG Financial Advisors, Wells Fargo Home Mortgage, Consumer Counseling Services, and Santa Barbara City College. For the Housing Authority s Volunteer Income Tax Assistance centers, the Housing Authority partners with the Internal Revenue Service and provides free income-tax preparation training to low-income residents and community members. Other partners include the City of Santa Barbara for the Earned Income Tax Credit campaign and Santa Barbara Bank & Trust who donates staff time and the computer hardware. Innovation The Housing Authority s Financial Literacy Campaign is innovative in its approach to linking individuals with new ideas about financial education in that it is an unfunded, successful, long-standing collaborative effort between government, financial, and educational agencies who volunteer their time to give education and financial products in a simple and accessible manner to the Santa Barbara community. Individual assessments of program participants are conducted so as to determine who does not have a monthly budget, a banking relationship, credit/ good-credit, a retirement program, and an understanding of home loans. From this point, an individual action plan is developed for each participant, which may include participation in any or all of the financial literacy workshops including follow-up consultations with the workshop instructors (professionals). At these workshops, the Housing Authority provides free on-site childcare, homework assistance, and a light meal to the children of workshop attendees. Without these support services, it would be nearly impossible for constituents to attend workshops after working a full day, paying for additional childcare expenses, not to mention their parental responsibilities. Childcare staffing is provided by low-income housing residents that participate in the Housing Authority Employment Training Program. The Santa Barbara Housing Authority provides free educational workshops, one-on-one consultations with professionals, income-tax preparation, and electronic filing to low-income families, the disabled, and seniors. National Dollar Wi$e Campaign 26

32 Sugar Land, Texas Mayor David G. Wallace C O N T A C T Barbara Brescian bjb@sugarlandtx.gov partnerships Led by Mayor David G. Wallace, local mayors encouraged high school economics students to participate in the Dollar Wi$e Campaign during the school year. The target population included the economics classes in all nine high schools in Fort Bend Independent School District (ISD) approximately 1,500 students per semester. The campaign delivered an important message: You will face a number of decisions that have financial impacts on your lives. Whether it s a credit card, a car loan or filling out an application for college, you will be making very important decisions. This local Dollar Wi$e campaign was designed to provide a fun way for students to make financial decisions utilizing the following competitions: students against the online character Todd. students against other students. classes against other classes. students against the entire Fort Bend ISD student body.. Contest winners were then provided scholarships in the following amounts: first place: $1,000. second place: $500. third place: $250. Along with the cash scholarships, other prizes included certificates for free ice cream and for lunch at Carrabba s Grill. The awards were given to individuals, classes, entire schools, as well as to teachers, department directors, and principals. A combined total of approximately $17,000 in scholarships, prizes and awards was contributed by participating organizations. In order to promote the campaign, a video was created featuring Mayor Wallace. The video shown to each class and posted on the school district Web site provided an overview of the program and included a personal challenge from the mayor. The mayor also spoke to students during economics classes and with teachers during staff development training and meetings. Handout materials were distributed to students and articles were placed in the media, including a front-page story in the Houston Chronicle entitled A necessary lesson in personal finance. The story featured Mayor David G. Wallace, as well as educators and students participating in the program. Partnerships While stressing the importance of financial literacy, the mayor partnered with the Fort Bend ISD, local businesses, and other organizations, including Ben and Jerry s, Carrabba s Italian Grill, Wells Fargo, Null-Lairson, InCharge Education Foundation, Houston Title Company, and Early, McClintic, & McMillan, L.L.P. The Fort Bend County Dollar Wi$e Campaign is a combination of in-class curriculum delivered daily by economics teachers, Young Life magazine, and a multi-media online program called Grab Todd s Cash. Innovation Working through a unique partnership involving the business community, the local school district, and the government sector, Fort Bend s Dollar Wi$e campaign is able to target a captive audience by leveraging and enhancing existing curriculum. The campaign makes learning fun through interactive and hands-on activities that are not only relevant, but competitive, as prizes,

33 scholarships, and other awards are offered to those who excel. Many of the topics are covered in other classes, but the Fort Bend Dollar Wi$e Campaign consolidates the material into one course where students use the knowledge they have received to attain tangible rewards. It s a unique and kid-friendly way of the presenting the material that students prove to enjoy based on their feedback. The program targets seniors from Fort Bend ISD High School that are enrolled in required economics classes. In these classes, Mayor Wallace is a frequent speaker, discussing topics related to finances and promoting the program. To complement this, handout materials have been widely distributed throughout the schools, and with the help of educators, the Dollar Wi$e program has been incorporated into the economics curriculum. In addition, a promotional video was distributed to students and posted on the Fort Bend ISD Web site. More than 1,500 seniors per semester use the Dollar Wi$e program to study the Fair Credit Billing Act, the stock market, and other important topics. The goal of the program is to engage students in the importance of personal finance through fun and interactive activities. The program provides important lessons regarding everyday decisions, but it also addresses a new state law that will require more personal finance literacy education next spring. An expanded awareness of the importance of personal finances is expected to encourage smart decisions by young people. The Fort Bend Dollar Wi$e Campaign is intended as a starting point to engage students in areas such as avoiding debt, declaring bankruptcy, balancing a checkbook, and securing loans, all topics being considered as part of a class intended to address The goal is to engage students in the importance of personal finance through fun and interactive activities. It provides important lessons regarding everyday decisions, but it also addresses a new state law that will require more personal finance literacy education next spring. new state curriculum requirements for graduation by the school year. Organizers also intend to expand the program to include private schools, parochial schools, and local home-school organizations. National Dollar Wi$e Campaign 28

34 Tucson, Arizona Mayor Robert E. Walkup C O N T A C T Sio Castillo sio.castillo@tucsonaz.gov partnerships The City of Tucson has long worked through community based organizations such as Chicano Por La Causa Tucson (CPLC). In addition, the city requires that all recipients of city housing subsidies participate in housing counseling and financial education workshops. Chicanos Por La Causa Tucson Chicanos Por La Causa Tucson (CPLC) is a nonprofit community development corporation formed to provide greater social and economic opportunities for residents of Tucson and metro rural Pima County. CPLC Tucson targets low- to moderate-income, atrisk, and disadvantaged individuals, serving nearly 5,000 residents in Since 1980, CPLC Tucson has offered free programs that promote positive change and self-sufficiency in the community, including affordable housing and financial literacy programs; emergency housing and debt counseling; youth leadership and prevention programs; and a Youth Drop-In Center. In addition, CPLC operates three charter high schools that serve high-risk minority students and a construction company that builds affordable housing. Chicanos Por La Causa, Inc. is committed to building stronger, healthier communities by being a leading advocate, coalition builder and direct service provider. CPLC is committed to providing services to the disadvantaged regardless of ethnicity, nationality, race, gender, disability and age. CPLC has offered home purchasing, housing counseling, and emergency assistance programs for over 23 years; providing services to disadvantaged (primarily Latino) families who face multiple obstacles to accumulating assets and building wealth. Increasing Latino wealth is not only important to the Latino community, but also essential to the long-term prosperity of the community at-large and, indeed, the entire nation. Driven by need, CPLC has focused much of its attention on asset building and retention, including financial literacy as an integral part of its programs. The development of assets, large or small, is the first step in the dynamic process of introducing a person into the financial mainstream, increasing family stability, encouraging better consumer habits, and eventually increasing an individual s stake in the health and welfare of a community. Economic Mobility Center (EMC) initiative A unique and exciting opportunity to take asset building efforts to a new level has arisen in the form of the Economic Mobility Center (EMC) initiative. CPLC was recently chosen by The National Council of La Raza (NCLR) as one of three agencies to pilot a program that will focus on providing affordable financial services to the unbanked population in an effort to promote wealth

35 building. The financial literacy task force headed by United Way provides extra funding and support. NCLR provides funding support for the Economic Mobility Center initiative and provides curriculum. Freddie Mac provides train-the-trainer sessions for community members, and provides teachers manuals and unlimited client workbooks. Pima County and the City of Tucson Community Services Department provide financial literacy support and down payment and closing cost assistance for low-income homebuyers. The Fair Lending Coalition made up of community and government entities spreads information on fair lending initiatives. The primary strategy is to provide a comprehensive program to address all aspects of financial education in bilingual and bicultural settings. CPLC Tucson serves low- to moderate-income families who reside in Pima County including the City of Tucson, the innercity municipality of South Tucson, towns, and unincorporated communities in the Tucson metropolitan area. Many of CPLC s current clients are concentrated in areas that correspond to identified high-stress areas, indicated by Census data mapping. Such stress factors include high poverty rates, high unemployment rates, concentrations of unsafe housing, and low rates of educational attainment and homeownership. A federally-designated Empowerment Zone covers much of this area, in which 34% of the population is living in poverty. The vast majority of Tucson s poor are working, but face significant barriers to overcoming poverty. In 2000, according to the Census, more than 90,000 adults lacked a high school diploma, and 10% of the people over five years old had limited English skills. Over 40,000 people live in linguistically isolated households in which all members 14 years old and over have at least some difficulty with English. Financial insecurity and crisis is a common characteristic of such households. The need for this project is great given the demographics above, and the consequent client vulnerability, especially to the rapidly increasing prevalence of predatory lending practices and institutions. The program s target population is the at-risk, lowincome residents in the vicinity of Tucson and Pima County, who are 80% or below of median household income as determined by HUD. The majority of families CPLC serves are Hispanic, though the agency does not discriminate in the delivery of its services. Many clients face challenging life circumstances including low income, low literacy, and cultural challenges often related to recent immigrant status. Partnerships Arizona Saves Assets for Arizona Alliance Assets for Independence Allstate Foundation Freddie Mac Fannie Mae TUSD/Rose Family Resource & Wellness Center Rebuilding Together Tucson Southwest Fair Housing Council Southwest Center for Economic Integrity Pima County Community Services Department City of Tucson Community Services Department Chase Bank of America Countrywide National Bank of Arizona Northern Trust Compass Pascua Yaqui Tribe United Way NCLR It is the city s intention to increase financial literacy capacity through ongoing and enhanced support of community-based organizations and the continued development of collaborations. National Dollar Wi$e Campaign 30

36 Utica, New York Mayor Timothy J. Julian C O N T A C T Suzanne Vary svary@cityofutica.com partnerships As a businessman, Mayor Timothy J. Julian recognizes how daunting and time consuming it can be to navigate the myriad of economic development offerings. To ease this process, the City of Utica coordinates comprehensive services, financial assistance, training, counseling, and tax benefits available to business owners in Utica. The City of Utica Department of Urban & Economic Development created three revolving loan funds for the benefit of Utica small businesses which might otherwise have limited access to affordable, longer-term financing. The funds were created to create jobs, and help citizens make investments in distressed or disadvantaged areas within the City of Utica. Typical applicants may not have enough credit history or access to private sector financing. As a community-based public lender, the City of Utica is committed to meeting the needs of small business in distressed areas, the needs of minority and women entrepreneurs, and the employment needs of the community s low- and moderate-income residents. Beyond its revolving loan funds, the City of Utica works with local and state economic development agencies and banks to structure the best deal for starting or growing a business. For local private lenders, the city pools risk and subordinates its financing. The borrowers receive longer terms, affordable interest rates, and lower equity injections for their projects. Urban & Economic Development also helps busy business owners navigate licensing requirements, tax incentives, zoning issues, and strategic planning. The city s goal is to be a busy business owner s one-stop shop. Innovation A television show, City Limits, has been very successful in generating interest in the local campaign. City Limits is a thirtyminute program dealing with local topics that affect the City of Utica and the surrounding areas. The show features business incentives and grants. It airs twice weekly. A particularly effective means of reaching our target audience is through the mayor s weekly television broadcast. Since the mayor has promoted economic development on his show, inquiries have increased 50%. When inquiries are received, marketing materials are mailed or hand-delivered to potential clients. Partnerships Mohawk Valley EDGE An Oneida County nonprofit economic development agency. EDGE partners with the City of Utica on loans, deal structuring, and foreign trade zones for small businesses. Empire State Development Corporation The New York State economic development agency which also partners with the City of Utica for loans and grants. Mohawk Valley Small Business Development Center Works with the city to provide counseling, training, and technical assistance to Utica businesses and start-ups. Workforce Investment Board Provides training, applicant pools, and applicant screening services for businesses. Mohawk Valley Economic Development District Provides access to federal EDA programs such as SBA loans and grants. National Grid Makes grants to businesses investing in their service territory. The City of Utica makes the grant applications on behalf of business owners.