sustainable employment

updates

Financial Literacy (continued)

In this early stage of the field, studies report favorable behavior results from financial education programs linked to services for low-income households. UWMB and Bank of America are striving to create a community tool for agencies seeking to increase economic self-sufficiency via financial education.

As a first step, a survey was launched in the fall of 2006 to help us better understand the breadth and depth of current community efforts in this field, and inform us on areas for program development and capacity building. Thirty-three agencies funded by UWMB and Bank of America were surveyed. Results are available at the following link: http://www.uwmb.org/agencies/se/index.html.

Using the conclusions and suggestions drawn from the survey, UWMB has moved forward with developing a set of guidelines for quality financial education programming via an affinity group of representatives from eight UWMB and/or Bank of America partner agencies. The group engaged in working sessions between January and March to establish core competencies around quality and consistency across common themes, develop criteria by which to measure the success of financial education programs, and create a community tool that relates to agency outcomes and financial industry standards. Partnering with other stakeholders to offer a train-the-trainer session is the next step.

Affinity Group Participating Agencies

Nuestra Comunidad
Allston-Brighton Community Development Corporation
Asian American Civic Association
Dorchester Bay Economic Development Corporation
Urban Edge
YWCA Malden
One Family Scholars
Organization for a New Equality