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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)

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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
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
ida program results
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
building blocks to financial success1
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
building blocks
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
funding and support
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
building blocks scope
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
online ida doorways to dreams
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
2005 evaluation findings
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
user quotes
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.
building blocks next steps
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
thank you
Thank you!

Marcia Leithauser

Women’s Opportunities Resource Center

2010 Chestnut Street

Philadelphia, PA 19103

215-564-5500 x216

mleithauser@worc-pa.com