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2011 DC EITC Campaign Savings Promoter / Intake Specialist Training

2011 DC EITC Campaign Savings Promoter / Intake Specialist Training. Goals for the Day. Learn about the DC EITC Campaign Understand your role as a volunteer Learn about tools to help clients take positive financial action Leave feeling ready to help ANY client take one positive financial step.

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2011 DC EITC Campaign Savings Promoter / Intake Specialist Training

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  1. 2011 DC EITC CampaignSavings Promoter / Intake Specialist Training

  2. Goals for the Day • Learn about the DC EITC Campaign • Understand your role as a volunteer • Learn about tools to help clients take positive financial action • Leave feeling ready to help ANY client take one positive financial step

  3. DC EITC Campaign:A building block to a brighter financial future • 3 Primary Goals: • Promote awareness of tax credits • Provide tax preparation • Encourage taxpayers to TAKE ACTION • 11 Tax Sites in DC, MD, VA • Key Partners

  4. Savings Promoters: Our Goal Promote FINANCIAL FREEDOM What does that mean?

  5. Savings Promoters: Our Goal 5

  6. Our Clients • Income- up to $22k single up to $42k families • Average Income: $15,968 • Claim EITC: 37% • No Bank Account: 18% • Report Saving ANY Money: 21% • Report Saving Regularly: 4%

  7. Agenda • About the Campaign • How Tax Sites Work • Screening & Intake • Break • Financial Products & Resources • Break • Framing & Messaging You Are Here

  8. Your Role at the Tax Site • Screening, Intake, & Exit • Introducing FinancialResources & Opportunities • Registering Clients for Additional Services • Money Management / Financial Coaching • Savings Bonds • Bank Accounts • PNC Prepaid Debit Cards and Free Check Cashing (Selected sites) The Key: Encourage EVERY client to take ONE POSITIVE STEP

  9. Your Resources • Savings Promoter Guide • Site-specific Materials • Financial Resource Marketing Materials • Campaign Team • YOUR OWN INITIATIVE

  10. How Tax Sites Work:Site Staff

  11. How Tax Sites Work: Client Flow

  12. Working with Clients:Potential “Speed Bumps” • Previous Experiences • Language • Confusing Forms & Literacy Issues • Disabilities and Physical Limitations • Finances are Sensitive • Homelessness • Grumps Potential Speed Bumps?

  13. Screening & Intake Goals • Ensure we can serve the client • Build trust • Prepare the Preparers

  14. Greeting / Screening & Intake 14

  15. Screening:Campaign Requirements • Income Limits • $22,000 or $42,000 • Documentation • Social Security Cards / ITINs • ID • W-2s, 1099s, Other Tax Documents

  16. Screening:Campaign Requirements II • Need to File? • Earned income • Any withholdings • Kids • Educational expenses • Unsubsidized rent • Complexity Limits • No business owners • No sales of property • No rental property • No capital gains • Some sites may have other limitations 16

  17. Intake:After Forms are Completed • Intake • If Client Doesn’t Qualify, Explain WHY • Savings Discussion • Explain Process • Update Sign In Sheet

  18. Screening & Intake is Done! • Time for practice • See page 29 in your handbook

  19. Break

  20. Money Menu Savings Bonds Money Management 101 Pre-Paid Debit Card and Check Cashing Bank on DC Financial Coaching E-Newsletter

  21. Savings Bonds Page 24 in your handbook

  22. Savings Bonds- Quiz How many Americans own U.S. Savings Bonds? • Over 1 million • Over 10 million • Over 50 million • Which of the following are true about Series I U.S. Savings Bonds: • They pay a competitive interest rate (.74% currently). • They can be purchased for as little as $50. • They can only be redeemed where they were purchased. • They can be purchased as gifts for anyone else – all you need is the gift recipient's name.

  23. Savings Bonds- Target Audience • Parents & Grandparents • 70% of buyers bought for others • Larger Refunds • $3.4k for average buyer • $1.7k for average non-buyer • Specific Savings Goals • Education • Retirement

  24. Savings Bonds- How it Works • “Client Wants to Buy a Bond” form • Follow up with Tax Preparer • Form 8888

  25. Money Management 101 • Target audience: everyone • Information for clients: • helps you take control of your money • 5-week course at MLK or Benning Library • Free, interactive class

  26. CAAB e-newsletter • Financial tips and tricks • Upcoming events and classes • Target audience: every client with email address

  27. Prepaid Debit Cards- PNC Bank • Jubilee Jobs and MLK Library • Benefits: • Faster refund • Avoid check cashing fees • Completely free at PNC • Track expenditures • Establish relationship with bank

  28. Prepaid Cards- Info for Clients • Enables direct deposit • Spends like a regular debit card • Free online / phone balance inquiries • Non-reloadable • Fees: - ATM fee withdrawal (at a non-PNC or Allpoint ATM) $2.00 - - Statement Generation Fee $5.00 - Teller Cash Advance Fee $5.00 - Card Replacement Fee $10.00 - Inactivity Fee (after 3 month of inactivity) $3.00 per month - Live Agent Fee $2.50

  29. PNC Card Ordering Process Step #2: Login to PNC System 29

  30. PNC Card Ordering Process Step #3: Select ‘Enrollment’ Menu Option 30

  31. PNC Card Ordering Process Step #4: Confirm ‘Program’ Selection & Select ‘Continue’ 31

  32. PNC Card Ordering Process Step #5: Enter Taxpayer Information (SSN is required) 32

  33. PNC Card Ordering Process Step #6: Select ‘Preview Cardholder’ to Verify Entry 33

  34. PNC Card Ordering Process Step #7: Select ‘Submit’ After Data Verified 34

  35. PNC Card Ordering Process Step #8: Review Successful Card Order, Note ‘Account’ & ‘Card’ Numbers 35

  36. PNC Card Ordering Process Note: If Data Entry Error, Return to Menu and Select ‘Find Cardholder’ to Edit 36

  37. PNC Card Ordering Process Step #9: Order Next Card or Signoff 37

  38. Prepaid Cards- How it Works • Application & direct deposit • Card mailed to client • Refund deposited onto card • Client activates card

  39. PNC Bank- Free Check Cashing • Jubilee Jobs, MLK Library, UPO • Client receives 2 letters • Client will need: • Letter • Refund check • Picture ID • If Married Filing Jointly, both spouses

  40. Bank On DC • Target audience – clients not direct depositing • Information for clients: • Bank on DC Accounts are offered by 11 financial institutions • No monthly fees, low opening balance • Second chance accounts • Banks may be at tax site

  41. Financial Coaching • On-site • Arlington & Alexandria • Off-site • Financial Cafes • CAAB’s Money Management 101

  42. $1,000 Client savings ASSET HOME SMALL BUSINESS EDUCATION or JOB TRAINING $3,000 Earned matching funds from CAAB Matched Savings Program – Individual and Marriage Development Accounts $4,000 Target audience: those working and saving for a home, education or business

  43. Other Site Services

  44. Break

  45. Discussion Flow Chart

  46. Framing & Messaging • Small talk • Transition to savings promotion • Conversation starters • Ask a question • Pitching one option • Share something personal • Close the deal

  47. Small Group Presentations • Choose one topic to discuss • Make it engaging and friendly • Encourage people to talk with you afterwards to ask questions

  48. Measures of Success • Savings bonds purchased • Money Management 101 enrollments • CAAB e-newsletter enrollments • Success stories

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