Asset Building: A Community Organizing Approach from Washington State

1
Asset Building A Community Organizing Approach
from Washington State

• Paul Knox
• Asset Building Managing Director
• WA State Department of Community, Trade and
  Economic Development
• September 12, 2008

2
Asset Building in WA State Recent History

• Statewide Washington Asset Building Coalition
• Creating local coalitions New and existing
  asset building coalitions in 14 local regions 4
  start-ups and NW Native ABC
• Individual Development Accounts
• TANF funding 1999-2004 State funded since 2005
  -- 1 million per biennium
• Presently local projects in 12 counties
• Earned Income Tax Credit campaign
• Promoting EITC filing and free tax prep
  statewide, local focus where coalitions exist

3
Washington Asset Building Coalition (WABC)
Background

• August 2006 Summit brought together 140 private
  and public leaders from across the state led to
  formation of WABC
• Goals and work plan
• Promote asset building services products
  build local and statewide delivery capacity
• Develop and promote public and lending policies
  for asset building
• Market savings, smart borrowing and benefits like
  the EITC and
• Expand financial fitness, counseling and related
  opportunities and outcomes

4
Washington Asset Building Coalition
Steering Committee
Local Coalitions Statewide Institutions
5
WABC members

• Community action, housing social service
  agencies
• United Ways
• Federal, state local government agencies
• Banks, credit unions and regulatory groups
• Advocacy and organizing groups
• Native and tribal entities
• Micro-enterprise providers

6
WABC Resources

• Quarterly e-newsletter 1000 recipients
• June 2008 Building Assets-Strengthening
  Communities Conference 280 attendees
• Regular meetings, webinars
• State CTED staff and support role learning
  and program elements
• Poverty Action policy advocacy element

7
WABC Policy Principles

• Expand Financial Skills For Success
• Increase financial fitness in schools and for
  adults integrate into public services
• Help People Save And Invest
• Support small biz development, IDAs, home
  ownership, savings and EITC
• Remove Barriers To Gaining And Keeping Assets
• Expand lower cost lending alternatives, regulate
  predatory lending, eliminate asset limits

8
Local Asset Building Projects

• In 2005, only one community had organized around
  asset building now, 12 coalitions are planning
  and taking action
• Actions include promoting savings and banking,
  providing financial literacy and help with credit
  repair, marketing EITC, and promoting home
  ownership and business start-up
• 620,000 awarded each year to expand start-up and
  existing activities

9
Asset Building Activity 2006 - 2008

• A164
• TARGET
• Create 300 accounts by December 2006
• ANALYSIS
• Target groups large families, households, very
  low income and limited English
• ACTION
• Use 50,000 for direct mail handouts to reach 1
  million potential filers
• Support and coordinate with 9 local campaigns
• Done by April 15, 2007

2005-06 2007-08
Local Coalition and EITC Campaign
IDA Activity
10
Suggestions

• Think and act like an organizer
• Find champions be inclusive
• Ensure multiple needs are met learning, policy
  development/promotion and program improvement
• Build on strengths in your state be
  opportunistic
• Involve wide range of constituencies