By Kate Griffin on 09/20/2012 @ 04:00 PM

Tags: ALC 2012

Bank of America (BoA) sponsored a great conversation with Erica Lowitz from Local Initiatives Support Coalition (LISC) and Carolyn Seward of Better Family Life that boiled down the essential elements of integrating social services into one delivery mechanism for low-income families.

Invoking the likes of Tim Tebow and Robert Griffin III, moderator Wynne Lum from BoA helped us understand how picking up supplies and groceries for your football tailgating party has dramatically changed over the years – and now we only have to go to one store for everything we need. That is the definition of integrated service delivery.

Erica Lowitz from LISC highlighted their innovative Financial Opportunity Center (FOC) model – based on the Annie E. Casey Foundation Center for Working Families model – which helps families find a better job, identify and apply for public benefits, and act on financial counseling. The metrics they are tracking are increases in net income, increases in credit scores, and increases in net wealth.

Carolyn Seward discussed the MET Center – a Center for Working Families in the St. Louis area. Through their integrated work, she has found that bundling leads to longer-term engagement with households, and the effectiveness of services increased as a result. Therefore, they have better customer retention, and saw an increase in participant’s wages due to this approach.

Things I think are essential to take away from this discussion are:

• Sequencing is important – you have to meet households where they are. If they walk in the door and expenses exceed incomes, it’s inappropriate to start the conversation with why they should start saving money. They have a different crisis to solve for first.
• You have to understand everything that affects the success of the low-income person – for example, if they come into the door looking for a job, you have to look at their credit score and repair that if there is a problem – or it will affect their ability to get a job when an employer looks at the credit score.
• Metrics are so important to integrated service delivery – everyone involved in the service delivery has to agree on the metrics that matter, and how they will be measured. Performance-based contracts need to be used. And, there needs to be one data system collecting all the data. Then, everyone is acting from the same foundation and with the same information and incentives.
• Integrated service delivery is about adding on services – but in order to do that well, you have to recognize that people walked in the door for one reason (e.g., to get a job). In order to give them the suite or bundle of services you want, you have to do it before the person gets what they came for, and make it mandatory. Once they get what they came for, you’re unlikely to see them again. Moreover, you should bundle services when someone is coming for a patient service (one that takes time to deliver, like workforce training or getting a job) rather than transactional (such as emergency cash assistance). But, if you make the mandatory services good – people will come back. Seventy percent of participants come back from more after the first financial counseling session, even if that wasn’t what they walked in the door to do.

By Elvis Guzman on 09/20/2012 @ 02:15 PM

Tags: ALC 2012

Today the 2012 ALC hosted a concurrent session sponsored by the Ford Foundation, "Measuring and Understanding the Racial Wealth Gap." Kilolo Kijakazi from The Ford Foundation moderated this jam-packed session with a widely diverse audience. The speakers engaged the attendees with a vast array of wealth and income data which show a clear discrepancy between non-Hispanic Whites and other racial minorities. These include the fact that White households have 18 times more wealth than Hispanics and 20 times more than African-Americans. Ms. Kijakasi emphasized that the current gap is a structural problem and not just a product of individual factors. There are a number of institutional practices and flawed policies which have permeated throughout the system since the Great Depression.

Speakers in this session included Rebecca Tippet, University of Virginia, and Derrick Hamilton, The New School, which highlighted the importance of building and maintaining financial wealth. Buying a home or getting a post-secondary education are some of the most important factors which can expand the economic opportunities of all Americans. Unfortunately, African-Americans and Hispanics continue to stand at a disadvantage. Mariko Chang, another speaker and an Independent Contractor, chimed into the conversation by including the continued struggles of women in accumulating wealth. Single women, and African-American women in particular, have less access to the “wealth escalator” than their male counterparts.

The session ended with a very passionate Q&A portion in which audience members asked what the field could do to remedy these problems. Speakers cited the need to advocate their policymakers and work together to address the gap. Overall, this session spoke to many of the participants. The racial wealth gap continues to affect our daily work and it is an issue we must face head-on to advance the future of all Americans.

By Sean Luechtefeld on 09/20/2012 @ 01:30 PM

Sean Luechtefeld (10:33 pm): You know, this was a lot of fun! So much fun, in fact, that we should do it again. We'll see you back here next Thursday, October 11 at 9 pm EDT for the first and only Vice Presidential Debate. Meanwhile, continue the conversation on our Facebook page and via Twitter, and remember that you don't get to complain about the outcome of the November 6 election if you don't get out and vote!

Kim Pate (10:32 pm): One role of government is to provide ladders of opportunity, create jobs by supporting the self-employed, small businesses and community revitalization.

Sean Luechtefeld (10:31 pm): Governor Romney: "What kind of America do you want to have for yourself and your children?" That really is the question, isn't it?

Anne Kim (10:30 pm): With only a few minutes left to go, the ultimate "winners" of this debate (and the election) are supposed to be the American people. This debate notwithstanding, let's hope that's the case come November 7.

Sean Luechtefeld (10:28 pm): President Obama: We need to let go of some of what the most extreme parts of our parties want us to do and do what we know is right. Yes! Whether Democrat or Republican, there's real work to be done - to expand economic opportunity and more. But, we need to work together. In today's political climate, we can't put party over people.

Sean Luechtefeld (10:25 pm): C-SPAN (where I'm watching the debate) will be taking calls from the public at 10:30. I'm tempted to call in...what should I ask?

Jeremie Greer (10:22 pm): Glad we are talking about student loans; they could be the next major debt crisis (after foreclosure crisis, which we still haven't talked about...).

Lauren Williams (10:18 pm): Both candidates indicate that too many college grads are in too much debt. Here's the reality: college isn't accessible. But, it doesn't have to be that way. Children's Savings Accounts help close the aspiration gap, and can put higher ed within reach.

Sean Luechtefeld (10:17 pm): So many commenters! Thanks for sticking with us, folks.

Kasey Wiedrich (10:10 pm): Consequesnces of medical debt: 39% of people did not go see a doctor when they had a medical condition (New Demos research presented at the Assets Learning Conference in the Applied Research Forum. View the full presentation here).

Sean Luechtefeld (10:07 pm): Governor Romney: "we need private markets to solve the problem." Yup, but we also need public policy. And, while we're at it, community practice, too!

Sean Luechtefeld (10:04 pm): Finally, someone is talking about the struggles for the self-employed. Entrepreneurship isn't just good for the economy; for a lot of folks, it's the surest way out of asset poverty and into the mainstream.

Kristin Lawton (10:01 pm): Sean, the health care issue is an assets issue. People without health care are financially vulnerable - they could be one medical emergency away from losing it all.

Anne Kim (9:58 pm): If there is any silver lining to the financial crisis, it is the creation of the Consumer Financial Protection Bureau. No other agency is better poised to protect Americans' wealth. (EDITOR'S NOTE: Check out CFPB Director Richard Cordray at the ALC!)

Sean Luechtefeld (9:57 pm): Now we're moving onto health care. I think it's an important topic, but it makes me worry that we won't circle back to those who are financially vulnerable.

Sean Luechtefeld (9:52 pm): Is this debate changing anyone's mind?

Anne Kim (9:51 pm): Why do all debates around health care devolve into a contest over "Medi-scare"? No question health care is fundamental to economic security (check out CFED's Scorecard on this topic), but policy makers need to realize that Americans know there's no free lunch. We can handle an honest debate over the trade-offs we're all facing.

Lauren Williams (9:46 pm): Don't forget candidates for the ponies! Ponies need help building assets, too. Just ask @assetpony.

Sean Luechtefeld (9:45 pm): We keep hearing about the $716 billion. What would happen if we put that money into something other than Medicare? Like, something that created longer-term financial stability for the "forgotten 40 percent?"

Katherine Lucas McKay (9:42 pm): Social Security and Medicare, great. But what about investing in opportunity for today's children and their future, not just today's retirees? (by the way...CSAs work!)

Kim Pate (9:41 pm via Twitter): Taxes are important to both #candidates in this #debate, follow @cfednews for ways tax reform can support lower and middle income Americans.

Jeremie Greer (9:39 pm): Forty minutes into the debate and no talk about the foreclosure crisis? Huh?!?

Sean Luechtefeld (9:37 pm): Obama says governors are creative, but not so creative to overhaul public programs in a productive way. We'd disagree, and in fact, some of the most innovative work to create financial security are happening at the state and local levels. Anyone see Cory Booker at the ALC?

Anne Kim (9:33 pm): The red versus blue ties are a nice touch. Although we're not yet hearing much new, the contrast between the candidates' visions couldn't be more clear than the contrast between their neckwear!

Jeremie Greer (9:32 pm): There are a ton of ways to cut the deficit. Cutting programs that support the most vulnernable populations is not the way to do it.

Katherine Lucas McKay (9:30 pm): When talking about deficit reduction, the crucial question we need to ask is whether the program is so critical that we can't live without it? You can't answer that question without thinking about the people the programs are intended to serve. Neither candidate has addressed economic vulnerability yet tonight.

Sean Luechtefeld (9:27 pm): Psst...Jim! No need to move on. The economy is a topic we care about, and I'm pretty sure we aren't alone.

Ida Rademacher (9:25 pm): Neither candidate is using this opportuinty to appeal to the American people; they are in policy wonk-ville. Tons of data, but no effort to be accessible to the public.

Sean Luechtefeld (9:24 pm): "Math, common sense and our history all prove..." ZING! from President Obama.

Jeremie Greer (9:23 pm): It's refreshing to hear a balanced approach to deficit reduction that inlcudes revenue and spending.

Anne Kim (9:21 pm): Both candidates are focusing their appeals on what they would do for America's middle class, and each has named his litany of the principal hurdles to future middle class success.

But conspicuously missing so far is any mention of the 40 percent loss in wealth by all Americans as a result of the recession. Regardless of who wins in November, our work is cut out for us: we need to elevate household financial security to the top of the next Administration's agenda.

Sean Luechtefeld (9:19 pm): We absolutely agree that there needs to be deficit reduction. But, to be clear, there are a ton of things we can do to create a more inclusive economy that don't cost much and are both moveable (politically) and manageable (administratively). Read our recommendations in our Federal Stroke-of-a-Pen guide.

Sean Luechtefeld (9:17 pm): Neither candidate seems to be answering questions directly. Or, in the case of Romney, the opportunity to ask a question goes missed. Let's step it up, gents.

Kristin Lawton (9:15 pm): Romney wants to lower tax burdens for the middle class. Us too! So, how?

Jeremie Greer (9:13 pm): Both candidates are highlighting education as the linchpin for economic recovery.

Katherine Lucas McKay (9:12 pm): Governor Romney is right that new businesses are starting at rates that are a generational low. Big question: How can policies do more to support people who take the plunge and start business?

Sean Luechtefeld (9:07 pm): Both candidates talk about how the "top down" approach doesn't work. More importantly, we believe the "upside down" approach doesn't work. As is, of America's $400 billion in asset-building programs (most of which are delivered through the tax code), the majority of benefits go to those in the highest socioeconomic brackets. In fact, for those in the lowest 60% when it comes to income, the average federal benefit is only $5 per year. For more about how we fix these policies to make them "rightside-up," download Upside Down.

Sean Luechtefeld (9:05 pm): The candidates, along with moderator Jim Lehrer, have taken the stage. Remember, no noisy distractions allowed!

By Sean Luechtefeld on 09/20/2012 @ 01:30 PM

Tags: ALC 2012

1:54 pm
I felt an electricity [from this audience] from the minute I got here. There is nothing we can't do together in partnership.

1:52 pm
Cory Booker just blew the roof off this joint. Not sure the Marriott Wardman Park will ever be the same!

1:51 pm
Simply put: Let America be America again. Let it be the America it never was, but we know it can be.

1:49 pm
When you leave here today, take with you a greater courage. 

1:47 pm
Booker: "Will we cultivate a better America for our children? "I believe this country is where it is because we understood the principles and that the power of the people is always greater than the people in power."

1:45 pm
Is anyone following @assetpony on Twitter? Hilarious recaps and thoughts about Booker's presentation.

1:40 pm
Booker's keynote highlights an important theme that has already resonated throughout this Conference: the challenge isn't really about getting folks to self-sufficiency, it's about getting them to productivity. How do we create an inclusive economy that not only levels the playing field, but allows folks to transform their lives with a hand up that they can then pass down to others?

1:37 pm
Booker: The best political advice I've ever received came from Mayor Bloomberg: "Before you become a mayor, become a billionaire." Cory Booker is hilarious!

1:36 pm
It's all about finding tools and putting them in the hands of those who need them.

1:34 pm
Booker: "The slavery of the last generation was about physical bond. The slavery of today exists because good people are limited, not because of the failures of their own, but because of the failures of our common country."

1:31 pm
As a rhetorician, I'm loving that Mayor Booker is quoting Lincoln's Second Inaugural. Booker does an excellent job telling stories.

1:30 pm
Booker: The question is where are we. We can't just use symbols to advance the message, we need to make good on our words.

1:29 pm
There's way too much energy in this room right now! How great is Cory Booker?

1:25 pm
Bob Friedman has just introduced Cory Booker, who is getting the crowd fired up!

1:21 pm
I appreciate the J. Mintz and J. Cisneros are co-presenting their remarks. It's like the Academy Awards up in here!

1:19 pm
If I had a dollar for every program CFE has pioneered to build assets for citizens of their communities, I'd be rich!

1:18 pm
Cities work as excellent laboratories for testing asset-building strategies because people trust them. If you see the city's logo, you know that you're getting free, safe products that will improve your financial life.

1:12 pm
The Real Coalition Members of CFE, coming to Bravo this spring. Check your local listings! (side note: we've had the funniest speakers at this year's ALC!)

1:11 pm
This room IS like an airplane hangar. Sooo many asset builders!

1:08 pm
In 2008, this award was given to the Ford Foundation. In 2010, this award was given to Citi. For the first time, this award recognizes the critical role the public sector plays in creating real pathways to improving financial health. Congrats Commissioner Mintz, Treasurer Cisneros and all the members of CFE!

1:07 pm
Those are some nice looking awards!

1:06 pm
Purcell: "All politics is local. Today, we affirm the importance of the local government role."

1:04 pm
Shout out to Bank On programs! When will Bank On be a national initiative?

1:00 pm
Bill Purcell, CFED Board Member and former Mayor of Nashville, just introduced a short video which highlights Cities for Financial Empowerment, recipients of this year's Assets & Opportunity Award. Use the Comments below to share your feedback on the video.

12:57 pm
So far, we've heard so many incredible stories of people for whom asset building has transformed their lives. It amazes me that there's anyone out there who doesn't realize the difference Corr mentions that our field makes.

12:56 pm
What do you consider to be the lasting impact of Individual Development Accounts and the Assets for Independence program? To me, it's that AFI has proven that even the lowest-income Americans can save.

12:53 pm
Corr: "We need to be creative in our approach...'we' meaning all of us."

12:51 pm
The #ALC2012 crowd gives big applause for the Affordable Care Act!

12:50 pm
The Department of Health & Human Services is providing the building blocks that every American needs to live safe and healthy lives. This includes things like child care, hunger programs and, perhaps most importantly, asset building.

12:45 pm
Bill Corr, Under Secretary of Health and Human Services, is our first speaker. Excited to hear Secretary Corr's perspective on asset building from the federal agency arena.

12:43 pm
Ida Rademacher, Chief Program Officer for CFED, has taken the stage! She'll be introducing our speakers for the Assets & Opportunity Award Plenary.

By Anne Kim on 09/20/2012 @ 01:15 PM

The asset-building field has long anticipated the creation and launch of the Consumer Financial Protection Bureau (CFPB). The protection and preservation of assets is as essential to building wealth as the mechanisms and infrastructure for helping Americans save.

As the fledgling agency hits its stride, the opportunities for partnership between the CFPB and the asset-building movement are becoming increasingly apparent. "We want a two-way relationship with the public," says CFPB Associate Director Gail Hillebrand.

Hillebrand was speaking at the ALC session, “What Can the Consumer Financial Protection Bureau do for – and in Partnership with – the Asset-Building Field?” The session was moderated by CFED’s Katherine Lucas-Smith and also featured David Rothstein of Policy Matters Ohio and CFED’s Jeremie Greer.

The takeaway: CFPB promises to be a different, dynamic breed of regulator. Far from being removed and remote from the products and marketplaces it seeks to regulate, CFPB will be an active participant in the communities it aims to protect and one that is deeply attuned to changes in the consumer financial products marketplace. Moreover, CFPB isn't seeking to be primarily a "prescriptive" regulator of financial products; its mission also includes arming consumers with the knowledge and capability they need to make the right decisions for themselves.

For nonprofits on the ground, this means the agency will be a ready ear and willing partner. In particular, speakers focused on these specific strategies for how organizations can engage and leverage the CFPB in their work:

• Hosting field hearings. Policy Matters Ohio has hosted field hearings for the CFPB in its “listening tours” around the country about consumer protection issues such as payday lending. Organizations can provide a valuable platform and conduit for CFPB to interact with the community.
• Bringing emerging consumer protection issues into the spotlight. To carry out its broad mandate, the CFPB will need to leverage the “eyes and ears” of organizations around the country that are working with consumers and that have firsthand knowledge of the problems they are confronting. Asset-building organizations are on the front lines of change in the financial services marketplace and can be a valuable source of information for regulators. As Rothstein said, organizations can "identify and refer bad actors" to the CFPB.
• Providing feedback on proposed agency actions. CFED’s Jeremie Greer spoke especially about how networks of organizations (such as the Assets & Opportunity Network can provide a powerful source of advocacy and information to the CFPB. The A&O Network, for example, will be one of several organizations providing comments to the CFPB on its call for research on financial education. And as Greer discussed, the feedback of organizations in the field can be vital for helping the agency design "safe and affordable" mortgage products that don't also crowd out borrowing opportunities for low- and moderate-income families.

The collective advice of organizations can be a powerful influence on the direction of CFPB’s actions and approach. While the CFPB is still in its youth is an ideal time for organizations to weigh in with their opinions and ideas.

By Jimmy Crowell on 09/20/2012 @ 12:00 PM

In the United States, nearly 30,000 adolescents age out of foster care each year without achieving permanence. In many states across the country, young people in foster care lose public benefits and government support at the age of 18. These adolescents are not prepared to live on their own and, unfortunately, 1 in 5 of those youths will become homeless within a year. Without the support, guidance and resources of a stable family they have great difficulties securing a job, finding a home, accessing healthcare and attaining educational certifications. Fortunately, programs like Opportunity Passport under the Jim Casey Youth Opportunities Initiative empower these young people and provide them with the tools they need to gain financial security.

Samanthya Amann and Eddye Vanderkwaak took advantage of the Opportunity Passport program after having entered foster care at age 11 and 14, respectively. Both young women never learned about healthy financial behaviors and were completely removed from the financial mainstream. They approached money with apprehension after having seen their parents struggle with debt for years. Opportunity Passport provided them with the financial education they needed, mentors to guide them and matching funds for their budding savings accounts. They were able to learn how to budget, engage in healthy financial behaviors and utilize matching funds to pursue their dreams. Both women now view money as a tool instead of a burden weighing down on them and holding them back.

The lessons learned from these former foster care youths really speak to the entire generation of young people trying to gain independence. Everyone needs support and financial knowledge to make it on their own and achieve their goals.

By Sean Luechtefeld on 09/20/2012 @ 08:00 AM

Tags: ALC 2012

9:33 am
Ooops...we've run a little bit over. CFED and Conference staff are standing by to help you get to your Concurrent Session rooms quickly. Thanks for hanging in there with us!

9:31 am
Mensah: "We've got a story to tell. We need those stories to be in the newspapers and in op-eds. Our stories are stories of hope."

9:29 am
Campbell: We've gotta go city-by-city. We can't use a one-size-fits-all approach. 

9:27 am
Levere: We couldn't have asked for two more similar speeches - prepared separately - that flow together so well.

9:22 am
Mensah: We could "wait it out." We could wait to see what happens and hope the economy gets better. Or, we could seize the moment. Our time is now, because "we aren't an optional field."

9:20 am
This is a good time for us. This is a time about foundations. It's a time when assets belong in the conversation. 

9:17 am
Mensah: "Saving is the hardest thing to do. Other than losing weight." Ha! I'm not sure which is tougher - I struggle with both!

9:14 am
Individual Development Accounts are transformative. Stories like those of the lady in Chicago who saved $7,000 and bought a home are inspirational.

9:10 am
Lisa Mensah is taking the stage. "It's always great to go last" since I get to hear the insights of those before me.

9:05 am
Campbell: We need to focus on what's possible, rather than on what we disagree upon. Hmmm...I can think of a building across town where that approach might be needed.

9:02 am
One-third of people don't pay their bills ontime, while many more don't have the basic financial skills in their toolbox as arsenal for navigating the market.

9:01 am
The central theme here is about how we get people into the mainstream. Regardless of the products Wells Fargo offers, the challenge is expanding the limits of our economy for it to be more inclusive.

8:57 am
Folks don't always have great relationships with banks. So, how do we overcome this and reach out to consumers in need? One simple answer: partnerships.

8:55 am
Wells Fargo - and financial institutions more generally - plays an important role in financial security. Long-term partnerships allow the sharing of resources, expertise, networks and solutions that can advance the interests of communities. It's important that we invite them to the table to discuss, listen and connect with stakeholders, especially households.

8:50 am
Andrea introduces Jon Campbell (Corporate Social Responsibility @ Wells Fargo) and Lisa Mensah (Aspen Institute Initiative on Financial Security). Lisa has been the "copilot" on this flight toward building a robust asset-building field.

8:46 am
Andrea asks Director Cordray what ALC participants can do to work with the CFPB. Cordray notes that the 983 employees of the Bureau will work with practitioners. Chris Veath is here at the ALC, and he can help get you in touch with the proper person.

There's also a Consumer Advisory Board, many of the members of which are here today. That Board officially launches next week in St. Louis.

Folks can also go to consumerfinance.gov or call 855.411.CFPB (handles calls in 190 languages!!) to get information.

Side Note: I bet Andrea didn't realize she'd get so many answers to her question!

CFPB website also puts out press advisories and other resources. Part of the work we need to do is to make the mission of the Bureau known.

8:41 am
Cliff Rosenthal is leading the financial empowerment efforts at CFPB. Working with Cities for Financial Empowerment, CFPB is advancing the interests of consumers, especially those that are economically vulnerable.

Camus: '"The struggle alone is enough to fill a man's heart."

8:38 am
We want people to be in a position to make good choices; choices that help them succeed. We'll hold the ladder steady for them. Today, the CFPB has received over 72,000 consumer complaints on financial products that are predatory or unsafe (WOW).

8:36 am
The Consumer Financial Protection Bureau, under Cordray's direction, is playing an important function by stopping discrimination on factors like race or gender, and ensuring that the financial products offered to lower-income homebuyers are safe and can be a source of lasting economic impact.

8:32 am
Cordray: "We can't climb the ladder for people. But what we can do is hold the ladder steady for people...We can make sure that climbing that ladder is safe." One example of how we do this is through regulations of mortgage lending. As homeownership tends to be a major indicated of household wealth, ensuring mortgages aren't offered in a predatory way is key to preventing negative impacts that resonate throughout communities.

8:29 am
We're deeply committed to the idea that we've done away with class and caste. "But in the nonfiction world," equality and inclusionare still goals and not  realities.

8:26 am
Jeopardy champion (and CFPB Director) Richard Corday has taken the stage. Says Cordray, "the thread that ties us together" is the drive to improve the lives of the financially vulnerable. In recent years, we've seen household wealth shrink. Census shows 46 million living in poverty today.

8:24 am
On a more personal note, Andrea shares the notion of Tikkun Olam, translated from the Hebrew as "repairing the world." This is the guiding notion in Andrea's life, and the spirit driving the work of everyone here today.

8:22 am
Plank #7: It takes a movement. We need a better way to collaborate nationally and test strategies together. This is what the Assets & Opportunity Network will do.

8:21 am
Plank #6: Remember protection, or risk losing it all.

8:20 am
Plank #5: Mainstream asset building where we live, work, learn and shop. It's the "supervitamin" to anti-poverty programs (shout out to Jonathan Mintz!).

8:20 am
Plank #4: Build "rightside up" policies to fix upside down policies. As CFED Founder Bob Friedman says, current policy "rewards the rich, misses the middle and penalizes the poor." Let's not just leave this to Congress, though - the willingness to make these policies is clear in cities and states everywhere.

8:18 am
Plank #3: Savings is essential. It's not just what you make, it's what you own. Savings make college more likely. Our task now is to ensure that every child has a savings account, and that every household has the products and incentives to save.

8:17 am
Plank #2: We must emphasize knowledge, as it informs behavior and decisions. Financial education isn't enough anymore; it's about financial capability.

8:15 am
Seven planks comprise the new American capitalism. Plank #1: It starts with financial inclusion. Levere: "Financial opportunity requires inclusion."

8:13 am
Cities for Financial Empowerment will receive the 2012 Assets & Opportunity award later this afternoon, signaling a recognition of the strength cities have shown in their efforts to create pathways to financial security. Cities are now outpacing Congress in many ways, and are showing the rest of the country lessons that impact our work.

8:11 am
Levere: "We have ideas that no one else can offer, and people are finally paying attention...Financial security now affects everyone."

8:09 am
Levere: "We are going to remake the foundation of economic opportunity in America."

8:06 am
The support from our sponsors this year has been unprecedented. If you see representatives from these organizations, please stop for a moment and thank them for making it possible.

8:05 am
Of the nearly 1,300 attendees here, 665 are at the ALC for the first time. We've got folks from 4 countries...including Benin!

8:03 am
Andrea's just taken the stage. Can you believe it's been 21 years since asset building became a field?

8:01 am
Five-minute warning! Quick tip: use the Comments option at the bottom of this blog post to leave your thoughts about this morning's Opening Plenary.

7:58 am
Getting ready for the Opening Plenary and Andrea's State of the Field address! Quick tip: Hit your browser's refresh button to get the latest updates to this live blog.

By Blair Benjamin, Guest Contributor on 09/19/2012 @ 07:45 PM

Tags: ALC 2012, Entrepreneurship

As a practitioner whose asset-building program has had a laser focus on one thing – providing a matched savings account program to low-income artist-entrepreneurs – I’ve always been a bit intimidated by the concept of “integrated service delivery.”

That idea of integration was the focus of the Tax, Savings & Entrepreneurship Institute that I attended on day 1 of the ALC.

Thankfully, Lauren Williams of CFED led off with a definition of integrated service delivery: “it’s a practice of offering a suite of services in a coordinated way to solve multiple problems.”

We learned about several versions of integrating services, particularly in the context of Volunteer Income Tax Assistance (VITA) programs, which serve a large volume of clients and can act as an entry point to other services. For many VITA programs, that possibility to use the tax moment as a gateway to other financial interventions has been the holy grail.

I thought the most provocative comment of the afternoon came from Luis Granados, Executive Director of Mission Economic Development Agency in San Francisco, who urged the institute attendees: “Do not confuse referrals with integrated services.” Not exactly fighting words, you say. Perhaps not by the standards of cable news shows, but it felt almost like he was throwing down the gauntlet to other panelists who talked, without shame, about providing referrals to achieve integration.

Luis was gentlemanly enough to acknowledge that the “process” by which a referral is made can define whether that action is “just a referral” or rather a form of vertical integration. If there’s an ESL class offered by a partner organization, and at the end there’s an opportunity for the students to actually apply for certain financial empowerment services that may be offered by a different organization, then that’s a referral that qualifies as service integration because of the explicitness and the clear pathway for follow-through.

Still, I sensed a philosophical difference. Luis seemed inclined to build capacity internally to offer the most critical integrated services in-house in order to assure staff quality, while the panelist that followed him, Anne Johnson of AccountAbility Minnesota (AAM), had developed a sophisticated system of partnerships to offer appropriate financial services and products in coordination with AAM’s “core” tax preparation services. Anne’s model is effectively a referral model, but a tightly structured one. She shared an “Integrated service mapping activity” worksheet that she finds helpful in evaluating the opportunities for integrated services and the pool of providers who could potentially serve as partners to meet a particular need. For her, it comes down to being very selective in developing partnerships (including clear MOUs outlining exactly how and when partners will respond after a referral is made – which Anne offered to share with any attendees in template form), and it’s critical to make sure that staff and volunteers at the VITA sites are well trained to identify what partner services should be recommended to particular clients.

There was also the question of whether service integration can be achieved much more seamlessly with an emphasis on technology, as in the case of the ResourcesMatch software product developed by Mission Asset Fund in San Francisco and the Efforts to Outcomes software used by LISC’s Financial Opportunity Centers, or whether there’s a danger in relying too much on software, which might mean that staff are not as well grounded in the various services that are part of the service integration model.

Daniel Lau of MAF made a strong case for the powerful ResourcesMatch software tool compared to the dreaded “resource binder” that has been a staple of social service delivery, and the ETO software described by LISC’s Jennifer McLain seemed equally impressive (although more focused on case management than on making referrals to other services). But again it was Luis Granados of MEDA who cautioned that technology, while it can add efficiencies, should be seen as a complementary tool that helps knowledgeable staff guide clients to other programs and services that will meet their needs.

Another point that came up repeatedly was the importance of securing staff and volunteer buy-in when you’re developing a more integrated service model. There needs to be buy-in from the top, to begin with. And then it needs to be supported at other levels through staff discussions, volunteer presentations, and a process of exploring and documenting how clients can benefit from service integration. AccountyAbility Minnesota, for example, developed a “Share your Story” campaign to find out “What my refund means to me.” They now use those stories, which often involve an act of aspiration and transformation (college savings, debt reduction, etc.), to help build understanding among their staff, volunteers and partners about how important it is to integrate other financial services with tax preparation.

This workshop has definitely spurred me to think more about the possibility of adding additional services or partners to offer a more integrated range of services in my own asset-building program. In some ways, I think that my program’s focus on artists (who are not typical clients of other services like VITA) might make it an excellent candidate for increased service integration. But it will take a lot more research on the ground in my own region to better understand the existing gaps and how to fill them with increased internal capacity and/or carefully selected partnerships. I’m sure I’ll be following up with some of the panelists to learn more of what has worked for them.

By Jennifer Brooks on 09/19/2012 @ 07:30 PM

Tags: ALC 2012, Assets & Opportunity Initiative

On Wednesday, 200 Assets & Opportunity Network members and coalition leaders participated in the A&O Network’s Advocates College, designed to increase the capacity and comfort level to engage in policy advocacy.

The half-day session took on the familiar sentiments: “I’m too busy to meet with policymakers” … “I’m not ‘allowed’ to lobby” … “I wouldn’t know what to say.” It explored ways social service providers can act as agents of social change—building on existing ways of working, rather than adding a new item to your “to do” list. It demystified IRS lobbying rules and provided practical guidance on what nonprofits CAN do. And it provided concrete advice on how to communicate with policymakers at the local, state and federal levels.

The Assets & Opportunity Network launches publicly at the ALC closing plenary on Friday. We encourage you to share your thoughts about how the Network can continue to provide opportunities like this one for learning and sharing on issues that are relevant to you. Leave a comment and share you ideas!

By Sean Luechtefeld on 09/19/2012 @ 06:30 PM

Tags: ALC 2012

Our full Conference programming kicks off tomorrow, with two Plenary Sessions, four Concurrent Session blocks and the return of the popular ALC Networking Reception.

Tomorrow’s breakfast starts at 7 am, with the morning Plenary, including Andrea Levere’s State of the Field address, to take place at 8. Then, Concurrent Sessions continue throughout the day. Of particular interest is the Applied Research Forum Kickoff at 9:30 in Washington 4, Capitol Hill Visit training at 11 in Washington 1, and the Lunchtime Plenary at 12:30 pm in the Marriott Ballroom, where we’ll present the Assets & Opportunity Award to Cities for Financial Empowerment.

Programming continues after lunch, where (shameless plug alert!) I encourage you to check out a session I’m moderating called “How to Talk About Assets” (2 pm; Virginia B). There, we’ll explore what messages resonate well with policymakers, media and potential assets allies. Finally, allow me to recommend “Behavioral Economics 101” at 3:30 in Washington 4. In 2010, this was one of the most popular sessions and we expect an even more exciting discussion this year.

Finally, wind down after a long day of learning and sharing with some dancing and networking at the Conference-wide Networking Reception from 5 – 9 pm in the Marriott Ballroom. As always, we’ll have live music and plenty of food, so bring your dancing shoes and get ready to have a blast!

By Sean Luechtefeld on 09/19/2012 @ 03:45 PM

Tags: ALC 2012

We are proud to present our Applied Research Forum, a two-day event showcasing new and exciting research and data in the asset-building field. The Applied Research Forum brings together the best and brightest minds in the field today, with representatives from the Treasury, Federal Reserve System, FDIC, Center for Financial Security and academic institutions from all across the country, among other organizations, in attendance.

The Forum will feature eleven separate discussions over five concurrent sessions Thursday and Friday, as well as a Kickoff event Thursday morning. The Research Forum Kickoff includes a panel discussion – moderated by Sarah Rosen Wartell, President of the Urban Institute and CFED Board Member – between Ray Boshara (Federal Reserve Bank of St. Louis), J. Michael Collins (Center for Financial Security, University of Wisconsin – Madison) and Clifford Rosenthal (CFPB). The Kickoff will also feature presentations of assets-related data, including the FDIC’s 2011 National Survey of Unbanked and Underbanked Households, which was released Wednesday, September 12.

With eleven discussions over the course of the Conference, there truly is something for everybody at the Applied Research Forum. Drop by, prepared to engage in thought-provoking dialogue with fellow practitioners, researchers and developers. We’ll see you there!

By Jimmy Crowell on 09/19/2012 @ 03:00 PM

Tags: ALC 2012, Individual Development Accounts

The Assets for Independence (AFI) Institute at the 2012 Assets Learning Conference kicked off this morning with over 200 practitioners convening for a day filled with great discussions and activities. The robust and diverse group of Individual Development Account (IDA) providers heard about the incredibly positive impact of savings and building assets for low income individuals from Al Fleming, AFI Program Manager with the Office of Community Services. During the welcome plenary, Mr. Fleming highlighted the fact that AFI has over $30 million in active grants going directly to savers striving to become homeowners, to start small businesses or to obtain educational certifications.

Mr. Fleming reinforced the importance of every grantees' work by inviting a local IDA participant to share her story. Patricia Baker energized the room of practitioners by sharing the benefits she reaped from participating in an IDA program. Not only was Patricia Baker able to save to start her own publishing business, she also took part in financial education classes and learned about her negative financial behaviors. Through her participation in an IDA program, Ms. Baker was able to get herself into the financial mainstream, strengthen her household finances and achieve her dreams of running her own business.

Lorna Moore, an IDA practitioner from Interfaith Housing Services in Kansas, also shared pictures and stories from her savers. She described how important her IDA program is for her community in Kansas and how it is currently serving more than 200 savers. The stories shared during the welcome plenary at today's AFI Institute really empowered the room and gave grantees an important tool to support their work. The energy and drive from grantees at the very front lines of asset building has inspired and reinforced the field.

By Sean Luechtefeld on 09/19/2012 @ 02:00 PM

Tags: ALC 2012

This summer, CFED asked Americans what they’re saving for by challenging them to send in their savings stories and photographs as part of the American Dream Photo Challenge. We received over 60 entries from contestants all over the country hoping to win the $500 grand prize. On display at our Conference are the top finalists. So, take a walk just to the right of the registration desk and enjoy the photo gallery. Let us know your favorite on Twitter with the hashtag #ALC2012. The top three winners will be announced on Friday morning during the Breakfast Plenary by CFED President Andrea Levere.

By Sean Luechtefeld on 09/19/2012 @ 12:30 PM

Tags: ALC 2012

Just added: Washington Post columnist E.J. Dionne to deliver keynote during Saturday's Closing Plenary!

If you haven’t heard, the second national Poverty Summit kicks off at the conclusion of the ALC, and registration is free for ALC participants. If you haven’t yet signed up, don’t worry; you can still register onsite at the Registration Desk located outside the Thurgood Marshall Ballroom here in the Washington Marriott Wardman Park Hotel.

The Poverty Summit kicks off Friday evening at 5 with an opening ceremony and reception. There, you’ll hear remarks from leaders in the poverty field, including Catholic Charities USA President Father Larry Snyder and CFED President Andrea Levere. On Saturday, we’re offering three Plenary Sessions, which will include high-profile speakers such as Peter Edelman, Georgetown University Law Center; David Erickson, Federal Reserve Bank of San Francisco; Nancy Andrews, Low-Income Investment Fund; and Michael Morris, National Disability Institute.

In addition to the exciting Plenary Sessions, the Poverty Summit will also offer two opportunities for Breakout Sessions, each of which will include some of the field’s leading organizations such as the Society of St. Vincent de Paul and the Coalition on Human Needs.

The Poverty Summit will bring together over 300 professionals committed to reversing the national trend of growing endemic poverty. We hope you’ll be part of that group by joining us at the close of the ALC.

By Bank of the West on 09/19/2012 @ 11:15 AM

Tags: ALC 2012, Individual Development Accounts

To help families achieve the goal of homeowner¬ship, Bank of the West has partnered with CFED to match the money that low-income individuals saving for a down payment and to support the nonprofits that provide financial education to these savers. This is the second story in a six-part series featuring Individual Development Account (IDA) program graduates from across the country. This story comes from the IDA program at Prosperity Works in Albuquerque, NM. Be sure to look out for more IDA Success Stories at the ALC.

Kayla’s Story

Kayla Resendez’s family of seven lived in a two-bedroom apartment. Her goal: to someday purchase a home big enough for all of them. A school principal’s receptionist, Kayla learned about a financial literacy program through the Albuquerque Public Schools family liaison. She and some of her colleagues decided to take the class.

During the course, she discovered Prosperity Works’ Individual Development Account (IDA) program. After learning more about the 3:1 matched savings program, Kayla opened an IDA at a local bank and began saving for a home with a new strategy. “Any money I made from overtime I put into our IDA account,” Kayla explained. “I could save money and still take care of our bills.”

The IDA program provided valuable lessons in day-to-day money management. “This program challenged my family to save not only for things that we would like to have but for unexpected emergencies as well. Saving can still be a challenge, but after the program, we feel we have definitely been given the tools to help us make reliable decisions. The program has allowed us to think about our savings, retirement and the big picture.”

Kayla realized her dream of purchasing a home in February 2011. Her IDA savings covered the down payment and closing costs. Even after her home purchase, Kayla has retained the important lessons she learned in the IDA program, and plans to remain financially stable, debt free and living within her financial means. “We purchase items in bulk, stay away from vending machines, pack lunches and car pool as much as possible. I thank the Prosperity Works IDA program for all it has done for me, my life and my family!”

By Kim Pate on 09/18/2012 @ 06:00 PM

Wells Fargo continues to show tremendous support for community development programs that work to strengthen families through asset building strategies. As our Assets & Opportunity Sponsor at the Assets Learning Conference, they’re sponsoring sessions that tackle important issues in the field, such as predatory lending, diminishing sources of funding and asset tests . Please see full session descriptions below.

• Assets & Opportunity Network Advocates College
  September 19, 2012  12:30 - 5:00 pm
• Opening Plenary: State of the Field
  September 20, 2012  8:00 - 9:30 am
  
  The Opening Plenary will begin with an official welcome to the Conference by CFED President Andrea Levere, followed by her always highly anticipated “State of the Field” address. Using CFED’s Household Financial Security Framework as a frame, Andrea will introduce the three keynote speakers for the plenary: Richard Cordray, Director of the Consumer Financial Protection Bureau; Jon Campbell, Executive Vice President, Director of Government and Community Relations, the Conference’s Assets & Opportunity Sponsor; and Lisa Mensah, Executive Director, Aspen Institute Initiative on Financial Security. After their keynote remarks, Andrea will moderate a panel discussion among the three, highlight connections and themes, and remind attendees to seek out opportunities to turn Ideas Into Action throughout the rest of the Conference.
• Eliminating Asset Tests: New Research, Challenges and Approaches
  September 20, 2012 9:30 - 10:45 am
  
  Many public benefit programs – those that provide cash assistance, food assistance, public health care and disability income – limit eligibility to those with few or no assets. Asset limits discourage families from accessing critical income-boosting benefits and from building up the personal savings and assets that would allow them to move off public benefit programs. Important progress has been made in the past decade, particularly on Medicaid and Supplemental Nutrition Assistance Program (SNAP) asset tests. Yet, with budget shortfalls at the state and federal levels, that progress is in jeopardy. This session will provide new research on the impact of eliminating assets tests on caseloads, cost savings and error rates in the Temporary Assistance for Needy Families and SNAP programs; lessons from recent set-backs and challenges to the elimination of SNAP asset tests; and a charge for advocates to protect and expand policy gains.
• State and Local Strategies to Curb Predatory Small Dollar Lending
  September 21, 2012  11:00 am - 12:15 pm
  
  Predatory small dollar lending strips wealth from financially vulnerable families and leaves them with fewer resources to devote to building assets and climbing the economic ladder. This session will provide an overview of the latest approaches – and industry counter-approaches – to curbing predatory small dollar lending; a concrete example of one newer state-level approach, statewide ballot initiatives; and an example of how local strategies, such local zoning ordinances, can not only curb abusive lending locally, but also build the case for state-level change.
• Winning Strategies for State Asset Policy Change in a Time of Budget Shortfalls
  September 21, 2012  11:00 am - 12:15 pm
  
  Faced with budget shortfalls and continued high unemployment, federal, state and local policymakers, are focused on trimming spending and creating jobs. Anti-poverty advocates want to protect funding to address immediate needs. Assets advocates (who may also care about those same programs) want to protect spending on assets, but are also still looking for the “big win” that would require new spending on asset-building incentives. This session will explore three strategies to win on an assets agenda in the current environment – building broader alliances with “revenue coalitions”; framing your issues in policymakers’ terms; and focusing on what is achievable now, while teeing up bigger investments for down the road – and a concrete example of one asset coalition’s success.

The 2012 Assets Learning Conference is possible thanks to the generous support of our sponsors. We’re deeply grateful to Wells Fargo, our Assets & Opportunity Sponsor. To see our full program agenda, please visit the conference site here.

By Bank of the West on 09/18/2012 @ 04:30 PM

Tags: ALC 2012, Individual Development Accounts

To help families achieve the goal of homeowner¬ship, Bank of the West has partnered with CFED to match the savings of low-income Individual Development Account (IDA) participants saving for a new home and to support the nonprofits that provide financial education to these savers. This is the first story in a six-part series featuring Individual Development Account (IDA) program graduates from across the country. This story comes from the IDA program at Interfaith Housing Services in Hutchinson, KS. Be sure to look out for more IDA Success Stories at the ALC.

The Hopkins Family’s Story

Emily and John Hopkins work hard for their family of five. Renting a house big enough for themselves and three children was a monthly struggle, despite John’s long hours at a feed yard and Emily’s job at a local gas station, plus babysitting.

They needed their own home, but homeownership seemed impossible. Their assets consisted of only a savings account with a very low balance. Emily and John considered buying a home on a land contract, but that meant the Hopkins wouldn’t own the land until the contract was fully paid off. They brought their contract to Interfaith Housing Services (IHS) where IHS staff reviewed the document and explained its risks given Emily and John’s financial status at the time.

Empowered with better information, Emily and John chose to sign up for the Individual Development Account (IDA) program. Through the program and its workshops, they learned to identify identifying “spending leaks” in their budget. They dedicated themselves to reducing their debt and building new credit. And they were able, at last, to start saving.

Emily and John finally reached their savings goal. “We couldn't have done this without Interfaith Housing Services matching our savings and providing help to repair and build our credit,” says Emily. The Hopkins found a home that was big enough for their family and more affordable than renting.

Emily and John just moved into their new home. Now, with better tools and strategies for spending and saving, they are working towards new goals to provide a better life for their children.

By Kim Pate on 09/17/2012 @ 04:30 PM

Tags: ALC 2012

is dedicated to strengthening neighborhoods and helping individuals and families gain greater financial stability. Don’t miss their sponsored session – Integrated Service Delivery Essentials – aimed at highlighting how Integrated Service Delivery, a new approach being used by many in the field, can improve service delivery for clients.

• Integrated Service Delivery Essentials
  September 20, 2012  2:00 pm - 3:15 pm
  
  Integrated Service Delivery creates streamlined service delivery for clients and leverages scarce resources for organizations. This seamless delivery of services and supports that address all of the issues impacting a given individual/family is a promising approach that is being used by a number of national organizations including the Annie E. Casey Foundation, Local Initiatives Support Corporation (LISC), the U.S. Department of Labor and many more organizations and units of government. In this session, participants will hear from organizations that have learned how to integrate services, create efficiencies and assist families in achieving their financial goals.

The 2012 Assets Learning Conference is possible thanks to the generous support of our sponsors. Please join us in extending our deep gratitude to Bank of America. For the full ALC agenda, click here.

By Kim Pate on 09/17/2012 @ 01:30 PM

Tags: ALC 2012, Children's Savings Accounts

The W.K. Kellogg Foundation recognizes the importance of building strong communities by helping families save for their children’s futures, particularly for education. That’s why they’re sponsoring the 2012 Assets Learning Conference as a way to promote the creation of pathways to financial security for millions of low- and moderate-income families.

As part of these efforts, they’re sponsoring sessions at the 2012 ALC that touch on children’s savings accounts and college affordability. Don’t miss the Conversation with Savers Breakfast Plenary, sponsored by W.K. Kellogg Foundation, and featuring speaker Sterling Speirn, their President and CEO. For complete session descriptions, take a look below:

• Children's Savings Account Institute
  September 19, 2012  9 am - 4:30 pm
  
  Our Children’s Savings Account Institute will provide all the details needed to design and launch your own savings accounts for higher education, including how to engage families, design and manage accounts, and create powerful savings incentives.
• Partnerships to Promote College Affordability, Enrollment and Success
  September 20, 2012  2 - 3:15 pm
  
  The College Board’s Advocacy and Policy Center’s mission is to ensure that students from all backgrounds have the opportunity to succeed in college and beyond. The Center, working with partners committed to similar goals, has developed innovative approaches to inform students and parents about the benefits of postsecondary education and how to pay for it. Learn about three creative projects that have successfully translated data and facts into accessible and understandable messages; and delivered that information using student-centered, parent friendly tools and materials. Panelists will review the results of these projects implemented during the past year that will reach hundreds of thousands of low- and moderate-income students and their families.
• Piggy Banks and the Public Sector
  September 21, 2012  11:00 am - 12:15 pm
  
  The concept of Children’s Savings Accounts (CSAs) is beginning to gain real traction in the public sector. In recent years, the vast majority of emerging children’s savings programs have included one or more public entities – such as partnerships with school districts, city or county governments, Head Start centers, or other federal programs. In this session, experts will share their experiences in advancing children’s savings initiatives, both legislatively and through agency or administrative partnerships, and describe recent breakthroughs at the local, state and federal levels. Attendees will leave the session with ideas they can take home and start using to connect with agency heads, legislators, child-serving programs, educational entities and others to advance children’s savings strategies.

The 2012 Assets Learning Conference is possible thanks to the generous support of our sponsors. We’re deeply grateful to the W.K. Kellogg Foundation, our Child and Family Savings Sponsor. To see our full program agenda, please visit the conference site here.

By Blair Benjamin, Guest Contributor on 09/17/2012 @ 11:45 AM

Tags: ALC 2012

Blair Benjamin at the Innovation Marketplace during the 2010 Assets Learning Conference.

We’re just a couple of days from the start of the 2012 Assets Learning Conference and I’m so excited to be returning as a blogger.

In 2008, I attended my first ALC by persuading the good people at CFED that they should invite me – a relative novice in the asset-building field, and someone who had never before attended the ALC – to be their first-ever official conference blogger. I promised that enthusiasm and fresh eyes would help me convey the excitement of the conference. I was given the position, worked my butt off at the conference, and was treated as an interesting, if somewhat alien, presence – “Why is this guy typing furiously on his laptop when he could be chatting with his state’s leading policy makers and funders in the buffet line?” I learned more than I could have imagined, probably developed some inflated notions of what I would accomplish during the following years, but returned to my day-to-day work with renewed energy.

I returned to the next ALC in 2010, this time with the more honorific title of “Innovative Idea Champion.” I and the other champions were carefully positioned to hob-nob and network as part of the “Innovation Marketplace” – no more hiding in the shadow of my laptop screen. I hawked the possibilities of my “Assets for Artists” project, which I’d been piloting for a couple of years in the remote Berkshires of western Massachusetts, and which I intended to scale up. Again, the conference was nothing less than invigorating, and opened a number of doors for me. I came just short of adding “Innovative Idea Champion” to my business card as I spent much of the next two years trying to do what I had told CFED I was planning to do. Looking back at my innovation@cfed profile, I see that I’ve managed to move quite a ways in the direction of what I had envisioned, including an expansion to additional states that we’re about to roll out and some experimentation with “crowd-sourced fundraising” (shameless plug – we’ve got about 35 days to go on our first-ever crowdfunding campaign on Indiegogo, so check out our great video and give $5 of $10 if the idea inspires you).

Which brings me to 2012, and yes, I’ve been invited to put my “blogger” hat back on for the ALC that kicks off in just a couple of days. Now, perhaps more like the typical conference attendee than I was in 2008 or 2010, my job is pulling me in more directions than I seem able to manage, and I wonder how I can afford to spend four straight days out of the office when there’s so much happening back home. But I also know this: how can I afford not to be at the ALC? Where else can I find over a thousand people who are just as excited by the things that excite me? I wouldn’t miss it for the world.