1 / 13

Building Blocks to Financial Success

Building Blocks to Financial Success. Financial Management Training for Low Income Families 2006 Assets Learning Conference – Phoenix, AZ . Women’s Opportunities Resource Center. Self Employment Training Micro-enterprise lending 3 IDA programs: PA Family Savings Account (FSA)

kyne
Download Presentation

Building Blocks to Financial Success

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Building Blocks to Financial Success Financial Management Training for Low Income Families 2006 Assets Learning Conference – Phoenix, AZ

  2. Women’s Opportunities Resource Center • Self Employment Training • Micro-enterprise lending • 3 IDA programs: • PA Family Savings Account (FSA) • Office of Refugee Resettlement (ORR) IDA • Philadelphia Housing Authority (PHA) IDA

  3. IDA program results • Over 630 graduates • saved $1.2 million • matched $1 million • leveraged with • $1.5 million in grants and other resources • $12.7 million in mortgages and loans

  4. Building Blocks to Financial Success • Online financial management training program, live since 2003 • Selected for inclusion on the American Express and National Endowment for Financial Education's (NEFE) Economic Independence Clearinghouse (www.nefe.org) • Awarded the Association for Enterprise Opportunity (AEO) 2005 Innovation in Technology Award

  5. Building Blocks • Seven chapters focusing on self-sufficiency and asset development: • Savings and Money Management • Debt Management and Credit Repair • Banking Products and Services • Loan and Grant Options • Taxes • Investments • Insurance

  6. Funding and Support • U.S. Dept. of Commerce’s Technologies Opportunities Program • PA Dept. of Community & Economic Development • Ongoing support from local bank partners (PNC Bank), the Philadelphia Foundation • Agency and individual fees • Created in partnership with Cinemagic, a media technology & design company

  7. Building Blocks’ Scope • Over 600 registered • Partnered with more than 10 agencies nationwide: • Action Housing, Pittsburgh • Impact Services, Philadelphia • South Oregon Goodwill, Medford, OR • Beans and Rice, VA • Faith in the City, MN • Mile High United Way, Denver, CO

  8. DEMO

  9. Online IDA:Doorways to Dreams • Partnership to offer an all online IDA program • 20 participants in our refugee and state IDA programs • Online banking and online classes

  10. 2005 Evaluation Findings • 80% of respondents said they chose online classes because of the convenience and flexibility of taking classes when and where they wanted. • Almost 90% of respondents reported applying knowledge or skills learned in the courses to their personal life. • Most respondents believed it improved their computer skills/knowledge • Two-thirds of respondents used a computer at home

  11. User quotes • I learned how to budget better, how important it is to have good credit, and to leave those fast cash companies alone. • My time is valuable. I have kids at home and I work full-time. I wanted to take every course that was offered, and I could only do that if I could take them on my schedule. • I have a 401K at work…I have always put some money into it, but now I save more because I see that it is a great way to make money. • With these courses I got the experience I needed to be ready for additional online education.

  12. Building Blocks: Next Steps • New platform • ADA compliant • Enhanced client tracking capability • Customized versions • Other languages (Spanish, Russian, Indonesian) • New curricula for other sectors (workforce development agencies, housing counseling agencies, or employers) • More admin control and efficiency • Built-in evaluations

  13. Thank you! Marcia Leithauser Women’s Opportunities Resource Center 2010 Chestnut Street Philadelphia, PA 19103 215-564-5500 x216 mleithauser@worc-pa.com

More Related