Did you make less than $58,000 last year? If so, you can file your taxes for free online. Check out www.MyFreeTaxes.com/sem

Labels: Financial Stability

I attended a terrific conference this week – co hosted by CEOs for Cities and United Way for Southeastern Michigan – on reducing poverty. The mission was to identify local actions that can significantly reduce poverty over the next two to four years. In my presentation, unfortunately, I said we don’t know how to do that.

Nationally there are two areas that can make a big difference in reducing poverty in the short term: full employment and an expanded safety net. Both are powerful tools for large scale poverty reduction. Local efforts that can achieve at scale poverty reductions are hard to identify. Yes we should do whatever we can to boost job creation. But as I have written in previous blogs state, regional and local levers to do that are not strong. And yes we should build a regional transit system so that city residents – where poverty is concentrated – can access jobs in the suburbs.

Labels: Financial Stability

http://www.theoaklandpress.com/articles/2010/02/28/news/local_news/doc4b89d90ab9506778471377.txt

The United Way for Southeastern Michigan's Regional Asset Building Coalition is offering free tax preparation assistance to low-income individuals and families.

Three tax assistance sites are open, through April 10, in Pontiac at the following locations:

• Accounting Aid Society at Lighthouse Community Development, 46156 Woodward Ave. Hours: 10 a.m. to 2 p.m. on Wednesdays and Saturdays. Closed on April 3. E-File available by appointment only. Call 248-920-6200.
  
  
• Accounting Aid Society at Oakland Livingston Human Service Human Service Agency, 196 Caesar Chavez. Hours: 5 to 8 p.m. on Wednesdays; 10 a.m. to 2 p.m. on Saturdays. E-File available in February only.
  
  
• Accounting Aid Society at Pontiac Consumers Energy, 1030 Featherstone. Hours: 10 a.m. to 2 p.m. on Saturdays.

In addition, the coalition, in partnership with the Wal-Mart Foundation, provides a online tool for individuals who earned less than $58,000 in 2009 to prepare and file state and federal income taxes themselves, free of charge. To access this tool, known as The Beehive, visit www.myfreetaxes.com/sem. An e-mail address is required to take advantage of this service.

For additional free tax preparation sites throughout metro Detroit or more information, visit www.michiganeic.org/freetaxprep or call United Way at 2-1-1 or 800-552-1183.

- Special writer Leah English

Labels: Financial Stability, InTheNews

By Sherri Welch
http://www.crainsdetroit.com/article/20100226/FREE/100229892

The Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative this morning launched a new Web portal to provide homeowners with a single source for foreclosure prevention and assistance.

Convened by United Way for Southeastern Michigan in 2008, the collaborative was charged with developing a regional solution to the foreclosure crisis.

The collaborative has 40 members including representatives from: the Detroit Office of Foreclosure, Prevention and Response; Wayne County; Detroit Local Initiatives Service Corp.; Southwest Housing; Greenpath Inc.; Michigan Mortgage Lenders Association; Fannie May; Detroit Real Estate Brokers Association; Charter One and Michigan State University's-Wayne County extension.

In 2009, there were more than 65,000 foreclosures in Wayne, Oakland, Macomb and Washtenaw counties, and only about half of those former homeowners sought foreclosure prevention assistance, the collaborative said.

Based on technology created by Wayne County, the new Web portal at http://www.fightmortgageforeclosure.com/ creates a standardized approach to foreclosure prevention assistance that improves the efficiency of staff and organizations offering assistance, which will enable counselors to assist more homeowners, the collaborative said.

The online Web portal is designed to connect homeowners facing foreclosure with the best services to assist them and to track delivery of those services and outcomes, with a goal of helping at least 30 percent of those calling for help to avoid foreclosure.

It also has the ability to track homeowners through each stage of assistance to ensure that people do not fall through the cracks, the collaborative said.

Labels: Financial Stability, InTheNews

Labels: Financial Stability, InTheNews

By Sherri Welch
http://www.crainsdetroit.com/article/20100226/FREE/100229866

National poverty experts will be in Detroit Tuesday, March 2, to discuss ways to cut the poverty rate by one percent in the country’s largest 51 metropolitan areas over the next two to four years.

The daylong series of presentations at United Way for Southeastern Michigan was sparked by CEOs for Cities research that identifies $13 billion in public benefit program savings from just a one percent drop in the poverty rate in those regions.

Chicago-based CEOs for Cities is a nonprofit network of businesses, nonprofits and mayors dedicated to building the next generation of great American cities.

The poverty research is part of a larger CEOs for Cities study, “City Dividends,” which identifies $166 billion in economic benefits from decreasing poverty rates and increasing college degree attainment rates by just one percent. It also proposes decreasing the number of miles driven by each person by one mile per day.

CEOs for Cities plans to present the recommendations from the daylong, Detroit summit at a strategy session in New York later this year and on its Web site.

United Way also plans to make the recommendations available on its Web site.

Labels: Financial Stability, InTheNews

From WDET News
http://wdet.org/article/four-counties-team-up-to-fight-foreclosure

The United Way is teaming up with four Southeast Michigan counties to help prevent foreclosure.

Wayne, Oakland, Macomb and Washtenaw Counties are joining the United Way to form the Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative. Through the use of a new website and 2-1-1 phone service, homeowners can get help navigating the foreclosure counseling process.

Charles Pugh is Detroit City Council President. He was facing a foreclosure during last fall’s election. Pugh says families need to come forward and get help… no matter how embarrassed they may feel.

“You have to come forward. I think part of the fear and embarrassment is what keeps people from seeking help. And let me tell you, there’s nothing more embarrassing than having your business on the front page of the paper. So, that will not happen to most families.”

In 2009, 1 in 27 homes in Southeast Michigan were in the foreclosure process totaling about 65,000 homes.

Labels: Financial Stability, InTheNews

Originally published February 2010
ASE's Everything People
http://www.aseonline.org/images/everythingpeopleFebruary10.pdf

By Joe DeSantis and Mary E. Corrado

An Eagle Eye Interview With Mike Brennan of United Way for Southeast Michigan

All HR professionals know why they need to care about social issues in their communities. There is a widely accepted business case for good corporate citizenship, particularly when the social issues are extreme, as they are today in Southeastern Michigan. Persistent and high levels of unemployment in a region, and the fallout from that unemployment-widespread poverty, failed school systems, failed local governance-eventually bounce back on local businesses, especially in the long term. Clearly, social awareness and good corporate citizenship are sound long-term business strategies.

Yet we all sense, down deep, that the business case isn't really enough; there needs to be more to it than that. Thankfully, there is. In the end, the best business people care about social issues not just because it is good business but also because they are human. When they are surrounded by human suffering and they have the wherewithal to do something about it, the simple human impulse to act, or at least support those who act, kicks in.

We are seeing that impulse deployed on a massive scale today in Haiti. But the earthquake in Haiti was a traumatic event that made the travails of that destitute country unimaginably worse all at once. Here in Southeastern Michigan, the troubles have had more of a creeping character, going from sad to grim to desperate incrementally, over the course of a full generation or longer. No earthquake here; instead a corrosive, metastatic disease that over time has claimed the lives, both literally and figuratively, of people and institutions as well.

That is why we have organizations like United Way for Southeastern Michigan. About 3½ years ago the Eagle Eye interviewed Mike Brennan, United Way's CEO. At that point in time, United Way had just made a strategic decision to become more than simply a collector and dispenser of funds, and head cheerleader, to various human service agencies in the area. The social problems were becoming too acute. United Way decided it needed to identify the most acute problems in the area and put its hands more directly on them by more aggressively "aligning resources with needs," as Mike put it. They decided it was time to lead from the front, rather than merely supply financial wherewithal and encouragement from behind.

Last month the Eagle Eye sat down again with Mike and invited him to update us on how things have gone since then, when, as he told us, United Way "bet the farm" on adopting a new leadership role and making it work.

Brennan: Four years ago we bet the farm on the direction of the organization. We took two 100-year-old organizations, dissolved them, had 150 Board members resign, formed a new one and seated a new 30-member Board in a mission that said we are going to define success not by how much money we raise but by how much progress we make on key social issues.

We had always been in a kind of a call-and-response mode, where you simply aggregate financial resources and distribute them to a set group of non-profits. But what was happening was, first, the value proposition of that was not enough in terms of attracting financial resources, and second, we weren't seeing measurable progress on key social issues in our community. We were finding that simply taking financial resources and forwarding them to non-profit organizations that did good work is not a very efficient way to effect social change. You have to take a more holistic approach.

I have long viewed United Way not as a charity and not as a recipient organization, which is how it has been most defined. I view United Way as a leadership organization. And when we put money into something, it should be something that gives us the ability to get things done.

Now, are we interested in growing the private contributions that are given to the community through the United Way? Absolutely. We work every day on that. It is a piece of the puzzle. But what we are betting the farm on is more actively aligning those resources with what we know to be the community's most urgent social needs, and measuring our success by whether or not we see changes in those conditions.

Where has this new approach taken you?

Brennan: Once we decided on that strategy, we went about the task of finding out what was most important in the community. We did a large survey of residents in the tri-country area, basically asking, of all the things that we could put energy into, what would be most important to you? Where do you think we could make the greatest progress? And out of that, along with looking at best practices across the country and interviewing other stakeholders, we formed our Agenda for Change. That agenda centered around three issues: education, financial stability (i.e., building financial assets in families), and third, basically a safety net.

On the education front, we really landed on two areas. One is early childhood development, meaning having kids ready for school by age five. Do you know that 80% of your mind was developed by age three? There is no more powerful place where you can put your dollars than early childhood development. For every dollar you put there, you see $17.00 on the other end of the line in reduced incarceration rates, better health metrics, etc. But we found that early childhood development is the least organized area of the community and of the state. We felt we could go about that in a better way, and today we have five Early Learning Centers established around the area, designed to give caregivers in the home access to early childhood training materials, early childhood tools, ageappropriate reading materials, and so on. The idea is to better prepare childcare-givers to change the quality of childcare that is taking place in the home.

The other area is high school graduation rates. Do you know that in just the tri-county area, there are 30 high schools that have dropout rates of 40% or more? Now, map that in your mind... Where did you map it? The fact is that one-third of those schools-ten of them-are outside the city of Detroit. There is a 20/10 split going on there. We've got a really important initiative that we've put in place to help address that issue.

Regarding family financial stability, as you have families going from the old economy to the new economy with the huge workforce displacement that we have had, there are fundamental capabilities that are simply missing in households and individuals and in communities. We can bring those to bear for families if we organize and work better together. For us, financial stability is families going from negative net worth to positive net worth. Our work in this area is about finding the best ways to help individuals and families navigate their financial framework in a better, more meaningful way and a more productive way.

Let me just give you an example-in the state of Michigan we have $900,000,000 that gets left on the table every year. This is public benefit money that is available to individuals who qualify for it but fail, for various reasons, to access it.

And then there is the safety net. The last time we talked, we had relatively recently put in the 211 help line. I think the most important development with the 211 of late is that it has documented a very clear shift in the need priorities of our callers. In an earlier study we had identified that there were about 600,000 people in the tri-county area who are "food insecure," meaning they know where one meal is coming from, but they don't know where the second or third meals are going to come from. We projected that number to grow to 900,000 by the time we get to 2011 and 2012. For 3½ years running, the number one reason people were calling into the 211 was for utility assistance. But then, two quarters ago, 211 data confirmed for us that a shift had happened. The number one reason people are now calling in is for food.

If someone asked me eight months ago to describe the local food system, the carrying system of food that comes into a community, I-and I would consider myself fairly knowledgeable on the topic-I would describe probably first and foremost the Gleaners, Forgotten Harvest, pantry systems, Focus Hope, Salvation Army, etc. One of our critical learnings was that of all the food that gets distributed to those who need it in the region, the food distribution system that I just described represents about 7% of the total; 50% of it comes through public benefit, federal benefit mostly, things like Food Stamps, women and their children (WIC), free and reduced lunch, breakfast programs. Another 20% is just the informal network of friends and family and neighbors that just help one another. So 7%, 50%, 20%, and then you had this gap. We estimate about a 120,000,000 pound gap of food on an annual basis.

You can improve the 7% part. We are working with great partners like Gleaners and Forgotten Harvest and others. We learned from the 211 data that instead of bricks and mortar, we needed to run a more mobile strategy. So we partnered with Ford Motor Company, which has given us five transit vehicles that can run 24 hours a day and move an extra 2,000,000 pounds throughout the region. But if you are going to make a really significant impact, you have to improve this uptake of the state and federal benefit, this 50%. And so as I said, you have $900,000,000 of untapped resources every year in that public benefit; the same thing was true on food access. We had pretty good penetration of individuals using things like food stamps but, for example, breakfast programs that are available to children at schools, in some cases only have an 8-10% take up rate. So you can impact a lot of families, a lot of kids, by just improving that.

When the new economy hits its stride, Michigan employers will need to draw their workers from Michigan's own citizenry. You can only import so much talent, and you cannot survive in the long run without a well-supplied pipeline of top-notch local talent. It means that Michigan's educational system has to prepare Michigan's students for employment in the new economy. It is not news that, on the whole, the state's K-12 schools are not meeting that challenge right now. United Way has targeted a particularly devastating aspect of the problem, drop-out rates, and begun a concentrated, cooperative initiative to do something about those rates, starting with three of the most troubled high schools in Southeast Michigan.

Brennan: Over two years ago we invited the 30 high schools that had that low performance to a Turnaround Summit. These were basically 30 drop-out factories. We brought in the very best turnaround agents in the country. These are intermediaries that specialize in working with large high schools to improve their performance from graduation rates of 20%, 30%, 40% to 60%, 70% and 80% and above. The Gates Foundation has put a lot of money into a whole range of intermediaries. We invited in the highest performing group, a group called the Institute for Student Achievement (ISA). ISA is a consulting group that works specifically with large high schools, typically in urban areas where there is high density of poverty, to change the performance rate.

These are people with a proven track record and a proven methodology. We introduced them to these 30 non-performing high schools. We also went out and raised $5,000,000 and created a Detroit Venture Fund, which is private money raised to be invested in the intermediaries to work with the high schools.

We invited the 30 schools to apply for a grant out of the Venture Fund that could be used to purchase the services of the intermediary. In essence, we would take Venture Fund money and give it to the intermediary, not to the school, to work and partner with the school. About a dozen schools applied and out of that, five got selected and three are on the clock right now. So, we have Cody and Osborn in the city of Detroit and Melvindale High in Melvindale. These are schools that spent a year getting ready-you can't just flick a switch at a school like Cody, with 2,000 kids, and all of a sudden be in a ready state.

In each of these schools we moved from one school to four academies, each one targeted to specific interest areas like technology, health, etc., and instead of one principal over 2,000 kids, you now have four principals, each over a class of 100. So, the incoming (current) class is just 9th grade, next year it will be 9th and 10th grade, the third year it would be 9th, 10th and 11th grade, the fourth year it would be 9th, 10th, 11th and 12th. At that point Cody as a single entity of 2,000 students will be gone and there will be four academies standing there, all inside the physical plant that was Cody High School.

Currently there is still a principal over the upper school, but over time that is just going to phase out.

Each academy principal had the right to choose the teachers for his or her school, working with the union.

That is part of the deal. They had to have the buy-in from the union, to allow the principals to select their teachers, in order to sign on with the intermediaries. Yes, there was a lot of turnover among teachers, but that was part of the arrangement. Today, all the teachers at Cody and Osborn are all members of DFT (Detroit Federation of Teachers, the teachers' union in the district).

One really important aspect of this is that Robert Bobb is a close partner in this project. When Mr. Bobb spoke to United Way Board 60 days ago, he said that what he saw going on at Cody and Osborn is what he wants going on in every high school in the city of Detroit. So, he is very supportive of the work. From the get-go we have had the administration, we have had the principals, we have had the union involved with it, and we have had parent networks involved, because that is the only way you get to a changed result.

That is the proof of concept here-that Robert Bobb wants to accelerate this concept into the other Detroit schools.

Now, these are not charter schools, this is not a charter strategy, it is not just a turnaround strategy of the DPS, it is the collective. It is not just having a Robert Bobb, who is probably a once-in-a-generation leader to arrive in that role, but you have to also have community organizations like United Way, and champions like Skillman Foundation (which has been on our Board for 20 years) and the Detroit Parent Network. Changing the education of our children requires a full community response. And that is complicated work. But it does us no good for us to say "Boy, this is really complicated, it is really hard." So what. That is our job.

We wanted to know if the national United Way organization has adopted the same approach that the Southeast Michigan organization has.

Brennan: Yes, we have adopted this strategy at the national level as well. Remember that I spent several years with the national-that is where I came from. We have been very intentional nationally on a transformation effort, aligning resources against set targets. You could go to a lot of United Ways and you would see the same kind of realignment taking place. I think, though, most United Ways would agree that our work here in Southeast Michigan has been bolder, and there is a rigor in how deep we are going. It is not just like a rewrap of the old organization; I mean we dissolved the old organization, so it has been a robust change here.

In all of this, what has happened to the annual campaign that we are all so familiar with?

Brennan: Of course we continue to run our annual campaign. And we are eager to widen it and expand it. We have about 100 non-profits that are funded partners for us. But the difference today is that those partners are aligned against the change result. So, one of the shifts that happened four years ago is that instead of asking what the agencies need, the question that now comes down into the center of the table for our Board is "What does the community need?... Let's get clear about that, and let's get clear about the strategies that we think can accomplish it, and then let's find the very best partners that can help us accomplish it." So the partners, the 100 non-profits that we work with today, help us get to this change condition. In the old days we used to refer to the process as "suck and blow'" where you "suck" in the resources as through a straw and then aim the straw at someone else and "blow" those resources to them. No more of that; today the agencies we work with are aligned in terms of impact on the issues that are most critical to the area.

You know, when someone is entrusting us with a discretionary dollar, my job is to make sure that it is the most impactful gift they can ever give. If we can't say that, then they should give the dollar somewhere else. But I say it now, and you have heard me say it publicly, I really don't think there is a more powerful gift someone can give right now than to the United Way, and if you do know of where there is, then I would say give the money there and the only thing I ask is tell me where that is, because then I want to go learn from that. But if I were to walk you through a 211 center, if I were to walk you through the work that is being done to put more food on the streets for individuals, if I were to walk you through a Center for Working Families, or a turnaround at a high school, or one of our Early Learning Centers, you would be able to see that your investment helped drive that. I don't believe there is another place where you could give your discretionary dollar that could come close to that.

Labels: basic needs, Educational_Preparedness, Financial Stability, InTheNews, Michael_Brennan

Originally published February 2010
ASE's Everything People
http://www.aseonline.org/images/everythingpeopleFebruary10.pdf

By Dona Ponepinto, Guest Contributor

Tax season can be a stressful time for everyone. From understanding all of the forms, to gathering all the necessary information and worrying over what you
might owe, it is a headache few enjoy.

Yet, for many Michigan workers, tax time also means an opportunity to significantly increase their household income, and employers can help them take advantage of it without incurring any additional employment costs. For employers and their employees, it is a clear, straightforward Win-Win.

At United Way for Southeastern Michigan, we believe that all families should have the tools and resources to become financially stable. That means the ability to make a livable income, to save, and to build assets. Every day, we're working with key partners in the government, nonprofit and corporate arenas to make this a reality.

Interestingly, a key first step to financial stability for many families lies in their annual income tax return. Tax credits like the Earned Income Tax Credit (EITC) can add thousands of dollars to a household's income. The EITC is a refundable tax credit offered at both the state and federal levels for working individuals and families. The credit allows taxpayers to reduce the amount of taxes they owe and, in most cases, provide a refund. Either way, it translates into more disposable income in the taxpayer's pocket.

This year's federal tax credit ranges between $450 and $5,650, depending on family size and household income. In 2007, the average federal tax credit for Michigan residents was $1,975. The Michigan EITC, a separate credit from the federal EITC, provides an additional tax credit of 20% of the taxpayer's federal credit.

The additional money workers receive is often used to pay down debt, meet basic needs, or save for the future. It is a fact that the EITC lifts more families out of poverty than any other federal aid program.

Not only does the EITC help individuals and families, but its benefits extend to employers and the community as a whole. For employers, the EITC presents tremendous opportunities. It offers an incentive to work and provides a chance for individuals to significantly increase their disposable income without having to receive an increase in pay. In a difficult economy where pay raises are no longer the norm, this is critical to helping families continue to meet their needs.

At a community level, the value is seen in the millions of dollars pumped into the local economy. The economic impact on neighborhoods and cities is felt as refund recipients pay bills, invest in their homes and neighborhoods, and purchase goods and services.

Unfortunately, there are still millions of EITC dollars left unclaimed each year. Estimates show that approximately 25% of eligible taxpayers do not claim the EITC because they do not know they are eligible or they do not understand its benefits. That translates to approximately $220 million that is left unclaimed across the state of Michigan.

Our state legislators are making strides to increase awareness and the amount of tax credits workers receive. HB 5296, a bill introduced in the Michigan House of Representatives late last year, would require employers with five or more paid employees to provide information about the EITC to their entire staff. The bill would also provide tools to help organizations effectively communicate to their employees about the EITC and its benefits. It has passed in the House Labor Committee, and is currently making its way through the House. If passed, this bill would go a long way in educating workers about this important income booster.

Labels: Financial Stability, InTheNews

Press release

Contact(s):
Julia Klaiber, CEOs for Cities
202.420.9451

Laura L Rodwan, United Way for Southeastern Michigan
313.226.9484 or 313.477.2750

Cara I. Belton, United Way for Southeastern Michigan
313.226.9484 or 313.520.8454

[DETROIT, MI] – National experts on the challenges of poverty will gather in Detroit March 2 at the invitation of CEOs for Cities and the United Way for Southeastern Michigan to engage in a renewed dialogue on one of the nation's most intractable problems.

The Opportunity Dividend Summit is aimed at capitalizing on research published by CEOs for Cities, a national network of urban leaders, that indicates a one percentage point reduction in poverty rates in the nation's 51 largest metropolitan areas would yield a $13 billion savings to public benefits programs. This "Opportunity Dividend" is calculated by direct savings to public programs such as Medicaid, food stamps and Temporary Assistance to Needy Families (TANF).

"The Opportunity Dividend Summit is bringing innovative thought leaders together to address the challenges of poverty and its effect on public benefit programs, and we are pleased to host this important event here in Detroit," said Michael J. Brennan, CEO and president of United Way for Southeastern Michigan. "The goal of the Summit underscores the commitment we share in exploring solutions to this critical issue effecting so many individuals and families in our region, and our nation."

In this one-day summit, national experts will present their best recommendations on how to achieve the Opportunity Dividend within 24-48 months using the unique Pecha Kucha method of 20 slides in six minutes. This format allows for a large number of good ideas to be presented succinctly and creatively, along with the rationale and evidence of their effectiveness.

"We urgently need to re-start the conversation on how to tackle poverty in America, and we need to do it in a way that grabs the attention of urban leaders," CEOs for Cities President and CEO Carol Coletta said. "We have to move from a recitation of the problem, stop treating urban leaders as non-actors in solving this problem and bring new energy to the task."

Outcomes from the Opportunity Dividend Summit will be presented to CEOs for Cities' national network of partners at its upcoming Strategy Session 2010 in New York City. Presentations will also be made available online by both CEOs for Cities and United Way for Southeastern Michigan for use by urban leaders and United Way practitioners nationwide.

The Opportunity Dividend Summit has been made possible by generous support from the Annie E. Casey Foundation and GMAC Financial Services/Ally Bank.

About City Dividends

The research behind the Opportunity Dividend is part of a larger body of work by CEOs for Cities called City Dividends, which calculates the monetary value of: increasing college attainment rates by one percentage point (Talent Dividend); decreasing vehicle miles traveled per person per day by one mile (Green Dividend); and decreasing poverty rates by one percentage point (Opportunity Dividend) in the largest 51 metropolitan areas in the U.S. The cumulative economic benefits of realizing the City Dividends are equal to $166 billion annually.

About CEOs for Cities

CEOs for Cities is a national cross-sector network of urban leaders from the civic, business, academic and philanthropic sectors dedicated to building and sustaining the next generation of great American cities.

Additional information is available at www.ceosforcities.org.

United Way for Southeastern Michigan

United Way for Southeastern Michigan mobilizes the caring power of Wayne, Oakland and Macomb counties to improve lives in measurable and lasting ways throughout the region. The organization is led by a diverse group of volunteers from business, labor, government, human services, education and the community. United Way provides opportunities to invest in the metropolitan Detroit community through its annual Campaign and is a leader in convening partners to impact local residents each year by increasing economic self-sufficiency, protecting children and youth at risk, strengthening families, empowering neighborhoods and communities, and promoting health and wellness. Additional information is available at www.UnitedWaySEM.org.

Labels: Financial Stability

Tax season is just around the corner. Volunteer to prepare taxes and help low-income families gain additional income by claiming important tax credits. Training is provided. Volunteer today!

Labels: Financial Stability, monthly enewsletter, Volunteering

Now what?

It’s an agonizing question facing a record 10,000 jobless people in metro Detroit who will exhaust their unemployment benefits over the next month and a half. A whopping 43,000 residents are expected to confront the same fate by year’s end, according to the state’s Unemployment Insurance Agency.

United Way for Southeastern Michigan: Provides help with rent, utilities, food, legal assistance, shelter, support groups and more. Call 211 anytime.

Click here to continue reading.

Labels: basic needs, Financial Stability

PRESS RELEASE

Media contacts:

• Laura L. Rodwan, (313) 226-9484 or cell, (313) 477-2750, lrodwan@sbcglobal.net
• Cara I. Belton, (313) 226-9484 or cell, (313) 520-8454, cara.belton@liveunitedsem.org
• Nicole Casal Moore, News Service, (734) 647-1838, ncmoore@umich.edu
• Jay Jackson, School of Information, (734) 763-0074, jacksonj@umich.edu

United Way partners with the University of Michigan to create online discussion forum and widget; an innovative tool for connecting the unemployed to one another

Unemployed workers have a new tool to help them find the resources they need to get through difficult times. Created in partnership between the United Way for Southeastern Michigan and the University of Michigan School of Information, Neighbors4Neighbors is an interactive online program that uses social computing technology to connect unemployed workers with each other.

Neighbors4Neighbors is an interactive online application that helps people help each other deal with unemployment. People who visit N4NMichigan.org can get and give advice on the things that matter when someone loses a job. The application has two components, an online discussion forum that lets people share advice with each other, and a “widget,” or online program, that allows users to add their own comments to partner web sites that have information for people who are unemployed. Questions and comments that are created on partner web sites via the widget will be mirrored on the Neighbors4Neighbors discussion forums.

Neighbors4Neighbors is a project of Gov. Jennifer M. Granholm’s Keep Michigan Working Task Force. Michael Brennan, president and CEO of United Way for Southeastern Michigan, is chair of the task force’s community outreach committee.

"These are tough economic times in Michigan, and Neighbors4Neighbors offers an innovative way to address the problem of unemployment in a non-traditional way. Service providers in our region are currently overloaded with requests for assistance in this time of economic crisis,” Brennan said.

“Neighbors4Neighbors is a program that helps people help themselves right away—and eliminates the wait. This collaborative online resource and community discussion forum will be a catalyst for leading social change in the region.".

Neighbors4Neighbors is the result of a successful collaboration between United Way and the University of Michigan. In pooling resources and talents, the two organizations have developed an innovative way to tap informal networks, allowing unemployed workers the power to communicate with one another in real time.

U- M School of Information professor Paul Resnick is the primary architect of the Neighbors4Neighbors website.

“This site demonstrates an efficient, low-cost application of social computing,” said Resnick. “Many websites already aim to help unemployed workers find information or job leads, but they don’t have a way to connect everyone who is visiting the page. Neighbors4Neighbors pulls people and information together to create a community.”

The widget enables all service and community-based organizations to add a “commenting feature” to the web pages of their own sites. (See below for more information on how to link). Michael Hess, an adjunct lecturer in the School of Information, is the developer of the widget. School of Information master’s students Meico Whitlock, Jeremy Canfield and Kathleen Ludewig also contributed.

“The widget is another rapid response to crisis from the School of Information,” said Martha E. Pollack,” dean and professor in the School of Information. “This project demonstrates how the School of Information continues to live up to its motto of ‘connecting people, information, and technology in more valuable ways.’

For more information:

• United Way for Southeastern Michigan: http://www.uwsem.org
• Neighbors4Neighbors: http://www.n4nMichigan.org
• Widget partner registration: http://partners.n4nMichigan.org
• Paul Resnick: http://www.si.umich.edu/~presnick/
• U-M School of Information: http://www.si.umich.edu/

About United Way for Southeastern Michigan

United Way for Southeastern Michigan mobilizes the caring power of Wayne, Oakland and Macomb counties to improve lives in measurable and lasting ways throughout the region. The organization is led by a diverse group of volunteers from business, labor, government, human services, education and the community. United Way provides opportunities to invest in the metropolitan Detroit community through its annual Campaign, and is a leader in convening partners to impact local residents each year by increasing economic self-sufficiency, protecting children and youth at risk, strengthening families, empowering neighborhoods and communities, and promoting health and wellness. Additional information is available at www.LiveUnitedSEM.org

About University of Michigan School of Information

The School of Information (si.umich.edu) is internationally recognized as a leader in educating information professionals and in conducting research into the fundamental role of information and information technology in society. Faculty explore the many ways in which information is created, collected, managed, preserved, accessed, and presented, applying multi-disciplinary perspectives to discover new knowledge about the interplay between people, information, and technology. The work of SI faculty can be found in numerous Web 2.0 applications, such as reputation and recommendation systems. The School is the premier institution studying and using technology to improve how people work together in virtual collaborations. The incentive-centered design approach to system development was created at SI. In addition, SI researchers continue to be instrumental in raising awareness of the importance of cyberinfrastructure as a national asset and have helped elevate it to priority status at the National Science Foundation.

Labels: basic needs, Financial Stability, Neighbors4Neighbors, Press_Releases, programs and initiatives

I remember like it was yesterday the day my Dad came home in the summer of '81. He called us four kids into the living room to tell us that Ford had laid him off--but we were going to be OK. I didn't hear anything after the "but." I remember going up to my room and vowing that I would turn my paper route and lawn mowing money into groceries to provide for our family. It turned out my dad was right. He got a job teaching that fall at University of Detroit High again, and our family was fine. But the pain I felt that day, and the responsibility I assumed that day, would stay with me for a long time.

Twenty-four years later, on June 26, 2005, I lost my own job unexpectedly. I called my wife from the office and told her the news. Read More >>

Labels: Employee Voices, Financial Stability, Michael_Tenbusch

Families in metro Detroit will get a little more support as they strive to build assets in this tough economy thanks to a new partnership between United Way and Detroit LISC.

The Greater Detroit Center for Working Families (CWF) is an innovative partnership between United Way and Detroit LISC to advance community economic development in Southeast Michigan. The two organizations will serve as the intermediary of the CWF and manage it in partnership with the organizations delivering the program's services.

CWF is designed to provide a comprehensive set of services to the working poor that help them learn to save, build assets, and eventually move from negative net worth, or debt, to positive net worth and financial independence. To make this happen, the Centers focus on three components: one-on-one financial coaching to help individuals learn how to manage their debt and begin to save; career coaching to help individuals find the right job or training program to suit their long-term goals; and assisting with finding additional supports such as tax credits and other public benefits that provide additional income.

Continue reading.

Labels: Financial Stability

Over the past several years, homeowners in Southeast Michigan have been feeling the effects of decreasing home values. The glut of unsold homes -- many put on the market as the result of job loss and a subsequent move out of this region – coupled with the foreclosure crisis, have served to drive down the value of our homes. Homeowners who must sell are finding that they cannot get out of the house what they still owe, unless they have been in the house for a number of years or made a large down payment at the outset. Property tax bills, while showing a decreasing assessed value, are often still going up thanks to the Headlee Amendment. This is seen as “adding insult to injury” and homeowners, as well as legislators, are fighting to make sure taxes cannot increase unless assessments increase as well.

Click here to read more.

Labels: Financial Stability

More than 67,000 people in Wayne, Oakland and Macomb Counties still haven’t claimed their Economic Stimulus Payment (ESP). This amounts to more than $20 million that residents in our region are entitled to. United Way and the Regional Asset Building Coalition (RABC) are working hard to ensure people claim their refunds and bring important assets to our region.

Read more.

Labels: Financial Stability

PRESS RELEASE

Media Contact:
Sally Fabens
sally.fabens@uwa.unitedway.org
W: 703-836-7112, x 401
C: 703-946-3638


Alexandria, VA (June 5, 2008) – Three hundred and fifty corporate, government, nonprofit and faith-based leaders gathered this week at the 2008 Financial Stability Leadership Summit in Chicago, where United Way
announced one new and several ongoing, innovative partnerships toward the goal of cutting in half the number of lower income working families who are financially unstable over the next ten years. As part of the
United Way Financial Stability Partnership™, strategies being discussed aim to provide hard working individuals and families with tools and resources to maximize their income, build savings and acquire assets for stable housing, continued education, small business development, and retirement planning.

At the Summit on June 5, United Way and the Federal Deposit Insurance Corporation (FDIC) publicly signed an agreement to promote long-term financial stability for unbanked and underserved individuals and families. This agreement will facilitate collaborative outreach and programs with financial institutions and other partners on ways to bring unbanked and underserved clients into the financial mainstream through low-cost products and services and expanded financial education efforts. Strategies include increasing financial literacy and access to transactional accounts, affordable small dollar loans, individual development accounts, savings deposits from Earned Income Tax Credits, split tax refunds, individual development accounts and savings campaigns, as well as other bank products and services.

United Way and the Bank of America Charitable Foundation have expanded a partnership that helps to build the capacity of Earned Income Tax Credit (EITC) outreach and free tax preparation efforts in 44 areas across the country and to support the development of one-stop financial stability centers. Bank of America associates support this work at the local level through thousands of hours of volunteer work. The partnership has yielded significant results, with grantees reporting over $653,000,000 in total tax returns over the first two years. The second year has seen a 43 percent increase in total tax returns from year one – and a 79 percent increase in EITC refunds claimed.

Another innovative partnership in the effort is with Nets to Ladders, Inc. (N2L), whose webbased software platform, the Benefits Enrollment Network (BEN™), simplifies the benefits screening and enrollment process and the ability to access financial institutions, products and services easily. Over the next year, communities across all fifty states will reinvent how needed benefits are accessed, screened and claimed, which will impact thousands of hardworking individuals and their families.

United Way also has partnered with the National Fund for Workforce Solutions™ to help identify communities across the country that have the capability, capacity and need to strengthen the workforce development and advance system in that community. The National Fund’s workforce initiative seeks to leverage $50 million to help at least 1,000 employers recruit, train, and move employees into as many as 50,000 new, family-supporting jobs annually.

United Way Vice President of Community Impact Development Dr. Madye Henson stated, “These ground-breaking partnerships are critical to help working families earn, save, and build assets. We are all connected and interdependent and, working together, we can ensure that more hard-working families get off the financial tightrope and onto solid ground.”

United Way and partners have come together at the Summit to make a commitment to cutting in half the number of lower income working families who are financially unstable over the next ten years. This effort is reflected in United Way’s recent report entitled, Goals for the Common Good: The United Way Challenge to America, which announced bold ten-year national goals in the three priority areas of education, income and health.

Speakers at the Summit include Brian Gallagher, president and CEO of United Way, Andrew Plepler, president of Bank of America Charitable Foundation, Martin Gruenberg, vice chairman of the FDIC, Marc Ferguson, CEO and founder of Nets to Ladders, Senator Bill Bradley, Barbara Ehrenreich, author of Nickel and Dimed: On (Not) Getting By in America, Stacey Davis Stewart, senior vice president of Fannie Mae Corporation, Josephine Robinson, director of the Federal Office of Community Services, Administration for Children and Families, U.S. Department of Health and Human Services.

The 2008 Financial Stability Leadership Summit is being hosted and supported by the United Way of Metropolitan Chicago. Platinum Sponsor of the Summit is Bank of America and other sponsors include HSBC, N2L and the Marguerite Casey Foundation.


About United Way
United Way is a global network, including nearly 1,300 local organizations in the U.S. that advance the common good, creating opportunities for a better life for all by focusing on the three key building blocks of education, income and health. The United Way movement creates long lasting community change by addressing the underlying causes of problems that prevent progress in these areas. LIVE UNITED is a call to action for everyone to become part of the change. For more information about United Way, please visit: LIVEUNITED.org.

Labels: Financial Stability

Economic stimulus checks began hitting bank accounts this month and many families are deciding how to best use the added bump to their incomes. We’ve come up with 10 options for spending your rebate check.

The options that follow could help you and your family move closer to financial independence by getting rid of debt, paying for an education or meeting vital basic needs.

1. Pay down debt. Debt is one of the biggest obstacles to financial independence. Give serious consideration to paying down credit card or student loan debt. Americans have doubled their debt over the past decade to $2.5 trillion (this excludes mortgage-related debt). The sooner you eradicate your debt, the sooner you can build assets, which will put you on the road to financial stability.
2. Apply toward mortgage principal. Consider making an extra payment to your principal. Although the short-term benefit may seem small the impact over 30 years could result in noticeable mortgage interest savings.
3. Avoid fees and get your whole check. If you don’t have a bank account, avoid cashing your rebate check at check cashing outlets that aren’t affiliated with a financial institution because they will charge high fees that eat into your rebate. Wal-Mart is offering the opportunity to cash your check for free at their stores and no purchase is necessary. Once you do this, you should also consider our next option...
4. Get banked. More than 28 million Americans do not have a bank account and an additional 44.7 million are under-banked, hindering them from becoming financially stable. If you are one of millions without a bank account, consider starting a savings account with your rebate. If you have a bank account, consider directing some or all of your rebate toward beefing up your rainy day fund.
5. Start (or add to) your child’s college fund. Individuals who are college educated are likely to make $1 million more in their lifetime than those with only a high school diploma. Help your child attain a full education and be better prepared to succeed in life.
6. Build you retirement nest egg. If you plan to stop working at some point you need to put money away. The money you invest in your retirement today is going to carry you even further down the road when the interest in your investment grows. Consider a Roth IRA or other investment vehicle.
7. Further your education. Have you been thinking about finishing a degree or receiving training in a different career field? Use your rebate toward that goal and in turn you can increase your employability.
8. Support others in need. If you have all you need, consider helping others thrive by donating some of your rebate to United Way.
9. Update your home. A home is a person’s greatest financial asset, so it’s important to keep it in good condition. Many home improvement stores are offering discounts if you use your rebate check toward merchandise.
10. Take advantage of retail savings. Once you have carefully covered all of your savings, investing and charitable giving bases consider taking advantage of discounts retailers are currently offering to consumers in hopes of getting some of their stimulus cash. National and local retailers are offering discounts, gift cards and other incentives to get you to shop. Now may not be a bad time to take advantage of the extra buying power to get clothes for the children or an item you really need.

Labels: Financial Stability, monthly enewsletter

For most families, a home is the largest investment they have. But too many families are struggling in these tough times to make mortgage payments.

As part of our financial stability work, United Way is teaming up with a group of community partners to help local homeowners get some relief. We are hosting two seminars that deal with navigating credit and foreclosure issues in order to avoid falling into the trap of foreclosure.

Home owners will learn money management strategies to protect their home and gain financial independence, including smart budgeting, credit and debt management and steps needed to avoid mortgage delinquency and foreclosure. If you are struggling to make payments each month, the experts on hand will also help you locate options to make it more manageable for you.

You will not be required to share personal financial information at these seminars. At the conclusion of the seminar you will have the opportunity to discuss your individual situation with mortgage and money management professionals.

Both seminars are free and open to the public, but reservations are advised because space is limited. Please call Stephanie at 248.370.9440 to reserve your spot today.

Join us:

Thursday, May 22, 6 p.m.
Oakland County Credit Union
1375 N. Oakland Blvd.
Waterford, MI

This seminar is hosted by T&C Federal Credit Union, GreenPath Debt Solutions, Oakland County Housing Counseling and United Way for Southeastern Michigan.

Wednesday, June 11, 6:30 p.m.
Auburn Hills Community Center
1827 N. Squirrel Rd.
Auburn Hills, MI

This seminar is hosted by Cornerstone Community Financial, GreenPath Debt Solutions, Oakland County Housing Counseling, United Way for Southeastern Michigan and the City of Auburn Hills.

Labels: Financial Stability, monthly enewsletter

Several dozen people got together at the Detroit Branch of the Federal Reserve Bank of Chicago recently to learn more about a partnership aimed at helping under-served populations in our region become financially stable.

The event was the first CEO Breakfast held by the Alliance for Economic Inclusion, of which United Way for Southeastern Michigan is a partner, and it was intended to encourage more executives of area banks and credit unions to get involved in a coordinated effort to bring the un-banked and under-banked back into the financial mainstream. Representatives from 11 institutions attended, and they heard discussions on potential products and services for low- and moderate-income households. UWSEM President and CEO Michael Brennan opened the session by stressing that reaching out to these populations is the right thing to do. These consumers too frequently turn to payday lenders and check cashing outlets that charge high fees. In fact, the Center for Financial Services Innovation reports that Americans spend at least $10.9 billion on more than 324 million alternative financial transactions a year.

Click here to continue reading.

Labels: Financial Stability, monthly enewsletter

As the economic stimulus checks start going out and the IRS continues their efforts to reach individuals who may still be eligible for these payments, be aware that scam artists are actively making the rounds using the proposed rebates as bait. The most recent scams brought to IRS attention are described below.

Rebate Phone Call
At least one scheme using the word “rebate” as part of the lure has been identified. In that scam, consumers receive a phone call from someone identifying himself as an IRS employee. The caller tells the targeted victim that he is eligible for a sizable rebate for filing his taxes early. The caller then states that he needs the target’s bank account information for the direct deposit of the rebate. If the target refuses, he is told that he cannot receive the rebate.

Refund e-mail
The IRS has seen several variations of a refund-related bogus e-mail which falsely claims to come from the IRS, tells the recipient that he or she is eligible for a tax refund for a specific amount, and instructs the recipient to click on a link in the e-mail to access a refund claim form. The form asks the recipient to enter personal information that the scamsters can then use to access the e-mail recipient’s bank or credit card account.

Audit e-mail
Using a technique calculated to get almost anyone’s attention, the e-mail notifies the recipient that his or her tax return will be audited. This is the first scam of which the IRS is aware that uses this to get the victim to respond. This e-mail is a phony. The IRS does not send unsolicited, tax-account related e-mails to taxpayers.

Changes to Tax Law e-Mail
This bogus e-mail is addressed to businesses, accountants and “Treasury” managers. It instructs them to download information on tax law changes by clicking on a series of links to publications on businesses, estate taxes, excise taxes, exempt organizations and IRAs and other retirement plans.

Paper Check Phone Call
In a current telephone scam, a caller claims to be an IRS employee who is calling because the IRS sent a check to the individual being called. The caller states that because the check has not been cashed, the IRS wants to verify the individual’s bank account number. The caller may have a foreign accent.

What to Do
Those who have received a questionable e-mail claiming to come from the IRS may forward it to a mailbox the IRS has established to receive such e-mails, phishing@irs.gov, using instructions contained in an article titled How to Protect Yourself from Suspicious E-Mails or Phishing Schemes. Following the instructions will help the IRS track the suspicious e-mail to its origins and shut down the scam.

Those who have received a questionable telephone call that claims to come from the IRS may also use the phishing@irs.gov mailbox to notify the IRS of the scam.

Labels: Financial Stability

A lot of things come along with money -- influence, security and strings, among others -- but instructions aren't one of them. Regardless of how much money you have, learning how to save, spend and borrow it a little more wisely is something everyone benefits from. That is precisely the premise behind Money Smart Week.

United Way for Southeastern Michigan is once again teaming up with the Federal Reserve Bank of Chicago-Detroit branch and more than 125 financial institutions, nonprofits, schools, libraries and other organizations to host the fifth annual Money Smart Week Michigan, April 20-26.

Click here to continue reading.

Labels: Financial Stability

Educational seminars for homeowners

You worked hard to buy your house and now it has become your home. In these uncertain economic times you want to be sure to keep your home. The experts from GreenPath Debt Solutions will show you strategies you can use to manage your money to protect your American dream. You’ll learn how to take control of your money by setting goals and creating a realistic budget that will allow you to keep abreast of your mortgage payments.

You’ll also learn from Cornerstone Community Financial about credit and debt issues and steps you can take to protect your house from mortgage delinquency and foreclosure. And, if you are struggling to make your house payments or behind on payments, there are specific options available to help you keep your home.

You will not be required to share personal financial information at these seminars. At the conclusion of the seminar you will have the opportunity to discuss your individual situation with mortgage and money management professionals.

Seminar dates and times are as follows:

May 22nd at 6 p.m.
Oakland County Credit Union
1375 N. Oakland Blvd., Waterford
This seminar is hosted by T& C Federal Credit Union, GreenPath Debt Solutions, Oakland County Housing Counseling and United Way for Southeast Michigan

June 11th at 6:30 p.m.
Auburn Hills Community Center
1827 N. Squirrel Rd., Auburn Hills
This seminar is hosted by Cornerstone Community Financial, GreenPath Debt Solutions, Oakland County Housing Counseling, United Way for Southeast Michigan and the City of Auburn Hills.

Both seminars are free and open to all community members. Please call Stephanie at 248-370-9440 to reserve your spot to ensure we have room for you. Walk-ins are welcome if the seminar is not filled.

Labels: Financial Stability

Ty Townsend has had a long career in the entertainment industry. As a Casting Director, he has worked on films and numerous stage productions. In addition, he has been an Artist Manager and Tour Manager. This 45 year old, Detroit native has saw one thing that was consistent in that business, the need for advertising and promotions.

One of the entertainment industry’s primary routes of promotion over the years has been merchandising. If you attend a concert, in the lobby you are likely to find stands where you can buy a T-shirt, Water Bottle or other item emblazoned with their face or logo. Known as Merchandising, these items are key in the promotion of a new artist. But, they are not just for artists, businesses, colleges, even non-profit organizations benefit from the creation of original merchandise with their name, logo and website information on it.

“By working in the entertainment industry, I realized that we were always purchasing these materials from someone else,” Townsend states, “I decided to partner with people who had the means of production and be able to provide the materials for less.” Starting his business, Next Level Promotions has been a learning process for Townsend. He began by reaching out to potential clients via email, however, he soon decided to open a showroom with the assistance of a grant from the State of Michigan due to his disability, he suffers from Herniated Disc Disease, and with a money from the United Way IDA Matching Grant program.

Townsend his happy to tout the United Way who helped him through a program that matches low-income applicants four dollars to every one dollar that they earn or raise to start a business, pay for college or buy a home. More information on the program can be obtained by calling the United Way by dialing 211 from a landline phone.

Townsend, who is the father of three, is using his unique merchandising background to help numerous companies and agencies. His business has worked with Wayne County Community College District, Comcast Cable, and recording artists, Slum Village and Dwele. He is proud of his status as a minority owned and operated business who is local and guarantees his work. He promises that he will save his clients money, offering specials to readers of The Michigan Citizen 20% off a new order when they mention this article. Next Level Promotions has a different special every month, for March, he is offering 100 T-Shirts with a one color imprint for only $300.

T-Shirts are a specialty of Next Level Promotions. He is proud to offer glitter screening, digital processing, heat transfer, metallic ink, embroidery, and more. Townsend enjoys doing family reunion shirts that are a part of bringing families together. Next Level Promotions can also create 10,000 other promotional items, ranging from ashtrays to water bottles. Customers can visit the showroom to see samples of his products. Townsend is looking to build relationships with other Detroit area business owners and collaborate for success.

As a small business owner in the City of Detroit, Townsend knows what it takes to succeed, “You have to see it, and the build it. Businesses need to create a brand identity. If you are in business, you have to advertise, in some way. Without advertising, a very bad thing happens… nothing.”

Ty Townsend
Next Level Promotions
4731 Grand River Ste. 102
Detroit, MI 48208

(800) 520-0853
www.nextlevelpromotionalproducts.com

Labels: Financial Stability, programs and initiatives

The mission of Leadership Next is to engage emerging leaders to create vibrant and caring communities in the Detroit region. The group is doing this by equipping these leaders with the skills, connections and environment conducive to making a positive impact in southeast Michigan. The members of Leadership Next, a United Way for Southeastern Michigan program, believe in walking the talk.

LN took a significant step toward fulfilling its mission March 4, with the announcement of plans to implement financial stability projects to help individuals and families in the area. Educational preparedness, financial stability and basic needs are the three focus areas of United Way's Agenda for Change, the organization's business plan for the next 10 years, and LN has been looking at ways to align its efforts with that work.

Click here to continue reading.

Labels: Financial Stability, leadership_next

Michigan residents have spoken and our elected officials are listening. House Bill 4645, which requires clarification for people seeking refund anticipation loans, also known as rapid refunds, is moving through the state legislature and on its way to becoming law. This bill is an important step in regulating predatory lending practices that target low-income individuals and families.

State Rep. Steve Tobocman (D-Detroit) introduced the bill, and the Michigan House of Representatives approved it in February. United Way, the Earned Income Tax Credit Coalition, and other partners have worked with Tobocman to spread the word and urge Michiganders to voice their support for the bill.

Click here to continue reading.

Labels: Financial Stability

United Way of America and the Bank of America Charitable Foundation today announced a $2 million grant to support an asset building strategy to help low- and moderate-income individuals achieve financially stability. The United Way Financial Stability Partnership™, launched in 2007, was designed to provide working individuals and families in communities across the country with tools to increase their income, build savings, and develop and maintain their assets. A fundamental component of this initiative is to help people obtain free tax preparation assistance and unclaimed tax refunds through the Earned Income Tax Credit (EITC).

>> Click here to continue reading.

Labels: Financial Stability

Effecting positive change in the life of someone around you is easier than you think. In fact, over the next couple of months you can help improve the financial outlook for hundreds of metro Detroiters by donating your time or an older computer to the United Way Earned Income Tax Credit initiative.

By participating in this program, known as the EITC Initiative, you can help low-income individuals claim up to $4,700 in tax rebates and credits. Through the end of January, United Way for Southeastern Michigan is recruiting volunteers to assist metro Detroiters with tax preparation at a number of Volunteer Income Tax Assistance sites throughout the region.

Click here to read more.

Labels: Financial Stability, monthly enewsletter

One of the major components of United Way for Southeastern Michigan’s Agenda for Change centers on providing the tools and resources area residents need to achieve financial stability. While the projects and programs that we support and develop in this area will cover a wide range of issues and populations, our primary targets will be low- to moderate-income residents.

Our emphasis will center on those falling below 200 percent of the federal poverty guidelines – about $40,000 annually for a family of four. According to estimates from UWSEM researchers, there were about 1.2 million residents – better than one in four – living below the line in 2006. Many of these individuals fall into the category of “unbanked,” which means they have no relationship with a bank and are often vulnerable to opportunistic check cashing vendors and their inflated fees, along with other costly money traps. United Way is working to help these residents establish bank accounts, and to teach them how to save and manage money wisely. We also recognize the importance of taking action now.

Click here to read more.

Labels: Financial Stability, monthly enewsletter

According to the latest Moneytrack/IPT Investing Secrets Survey, just one-percent of American investors grasp financial basics, and only about a third know more than half. To avoid falling victim to investment scams and to develop a comprehensive financial plan, you need to educate yourself on basics of how to succeed when it comes to your personal finances.

Sign up for a free workshop at a library near you. Investor Education @ your library­­® is a first-of-its-kind, non-commercial national public education and awareness campaign designed to help individuals make informed investment decisions.

Please visit WWJ's website to learn more about these classes and to find dates scheduled in your area.

Interested in more Investor Education information? Listen to these podcasts from WWJ.

Investor Education 11/27 In this Making the Grade report, WWJ's Greg Bowman talks with Bernie Margolis about the free program 'Investor Education at Your Library.'

Investor Education 11/2 Are you worried about the latest stock market dip? WWJ Newsradio 950's Beth Fisher talks with Mark Robinson of Investing Fundamentals to put things in the proper perspective.

Investor Education - Feldman Report 9/14 Michigan families are coming together to learn how to better their financial future. WWJ and Fox 2 Business Reporter Murray Feldman explains in the Feldman Report.

Investor Education - Feldman Report 8/27 A free seminiar could help you become a better investor -- it worked for OFIS Commissioner, Linda Waters. WWJ and Fox 2 Business Reporter Murray Feldman explains in the Feldman Report.

Labels: Financial Stability

United Way seeks 200 volunteers to help eligible workers receive the Earned Income Tax Credit (EITC) refund

DETROIT– United Way for Southeastern Michigan, in partnership with the Southeast Michigan Regional Asset Building Coalition, is recruiting 200 volunteers by Jan. 31 to assist with tax preparation to help eligible low-income working families receive the Earned Income Tax Credit (EITC). EITC is a federal tax refund that allows eligible individuals and families to build assets by increasing savings and reducing debt.

Eligible volunteers will have the opportunity to receive free training and gain a marketable skill. The training will provide valuable information on tax issues and tax credits, and instruction on using tax software. Those who successfully complete the training will earn certification as a tax preparer. Volunteers must:

• be at least 18 years of age
• be familiar with operating a computer
• be willing to make a difference in the lives of others

Once trained and certified, participants will volunteer their time at one of the 30 free tax preparation sites in southeastern Michigan. Working individuals who received less that $12,590 in 2007 would be eligible to receive up to $428 in tax credits; families consisting of one parent and one child who earned less that $33,241 in 2007 would be eligible for a credit up to $2,853. EITC tax refunds could go as high as $4,700 based on the number of dependents in working families.

“We have an opportunity to help thousands of people gain greater financial independence,” said Michael J. Brennan, president & CEO, United Way for Southeastern Michigan. “EITC lifts more families out of poverty than any other federal aid program, providing families with increased savings, reduced debt and the ability to enroll in financial training and education programs. I encourage all companies, universities, retirees and community groups to support this volunteer effort, which will make a significant financial difference in the lives of others.”

Help working families gain financial stability. Sign up to volunteer by Jan. 31. Call United Way at 2-1-1, or go to www.uwsem.org/eitc to register.

Labels: Financial Stability

• Did you have a bank account that was mismanaged and now it is hard for you to get another one?
• Do you have questions about FORECLOSURES?
• Need answers on what to do next?
• Would you like to know how to KEEP $400 (or more) of your tax refund?

Our Financial Fitness Fair can help! Learn smart money skills that can help you move toward a brighter financial future.

• Open Bank Accounts ON THE SPOT from Banks and Credit Unions
• Meet one on one with a foreclosure counselor
• Make an appointment to get your taxes done for FREE
• Learn about foreclosure, bankruptcy, utility assistance, budgeting, and many more asset development tools

This event is free and open to the public. Participants will receive a free pass to skate at the Warren Civic Center Ice Rink

The Financial Fitness Fair is 10 a.m. to 2 p.m. Saturday, Jan. 12, at Warren City Hall, 1 City Square, north of 12 Mile Road and east of Van Dyke Avenue.

The event is sponsored by the United Way for Southeastern Michigan, Macomb County Community Services Agency, Macomb County Michigan State University Extension Service, Macomb County Asset Building Coalition, IRS, Accounting Aid Society, the cities of Warren and Roseville and other community organizations.

Labels: Financial Stability

Most first time homebuyer, I would venture to say, are ingnorant of the processes that are involved in buying a home. There are two areas of home buying that the United Way's Idividual Development Account develop in you. Under the umbrella of financial literacy there is personal finance literacy and then there is home buying literacy. Both are essential to you in making a home purchase.

Personal Finance
The overwhelming number of foreclosures in the Southeast Michigan is no doubt connected to this lack of undestanding of either personal finances or mortgage lending. Don't go any futher with your home buying purchase without seeking some unbiased counsel. And the IDA program has it. First, you will need to go through some objective counseling about your ability to purchase a home. You'll need to report your income, determine your credit history, and assess that amount of income you have to afford a home mortgage. The better you budget and the condition of your finances determine how quickly you can move through the program. Remember the IDA program wants you to be an educated, endowed and financially responsible home owner, so they expect you to have your finances in order. The good thing is they'll help you in that area too.

The IDA program is run by the United Way, but they leave the financial matters to experts in the field. You will meet professionals in the field of life insurance, savings, and investments. The representatives that work with you are full of advice and they will not push you into some financial situation that is harmful to you. Furthermore they are accountable to you and your United Way IDA laison Sharon Davis. Talk to her if you have any issues.

The Home Buying Process
When you finish examining your personal finances you'll learn the matters of home buying. The classes are offered through another agency,(i.e. Faith Home Buyers)and they consist of credit assessment, mortgages,tax responiblity, and or course how to find a home. Even at this level you will be exposed to professionals in the field you can choose to work with them or not. However, I found that the professionals that work with the United Way seemed to be more communicative with prospective home buyers and have a heart to help you make an educated home purchase.

These are the two parts of the IDA programs financial literacy program that will qualify you for the match grants.

Labels: Financial Stability, programs and initiatives

So you're looking for assistance with your first home purchase. Well, the United Way of Southeast Michigan (UWSEM) has a program that will equip you to be an educated, endowed, and financially responsible homeowner. I am qualified to make this statement because I have gone through the Individual Development Account for first time home buyers, and I have found myself in a great home due to the blessings I received.

Research the Information

I found out about the IDA program through reading some Housing and Urban Development literature (HUD), which I received from my brother-in-law. This information is available free from the Federal Government and provides important information about the home buying process. I wanted to be prepared for my home buying purchase,and I'm sure you do too. So, I strongly suggest that you avail yourself of this information as well. Simply go to www.hud.gov and peruse the resources section they'll be glad to send you the information. Anyway, I read the material and on the last page there was a section that dealt with housing grants. The page said the I could go to www.idanetwork.org to find local programs which will give a "matching grant" to low income families interested in buying a home. (United Way offes one of the highest grant matches of 4:1.) On the site I found out about the Individual Development Account (IDA)program. It is a program operated by many agencies, and I called several of them in my area. But the United Way of Southeast Michigan was the first to really offer me a coherent and prompt response, so I went with them. Two years later I don't regret that choice.

The IDA program encourages you to save $1,000 towards your first home purchase, and requires you to take several financial literacy classes. After you do your part, they will match your savings 4:1. (The maximum amount of the grant is $4,000.) Then you can use the money to purchase you own home.

In later blogs I will deal with the financial literacy programs, challenges to procuring the matching grants, and finding other grant programs that can help you find greater assistance.

Labels: Financial Stability, programs and initiatives

Source: The Detroit Free Press
By: Hansen Clarke
Published: August 12, 2007

We can no longer tolerate a lending environment that puts profits over the well-being of borrowers. For years, this was the easy thing to do, as low interest rates, loose underwriting standards, and a booming housing market enabled lenders to sell mortgages to just about anyone who wanted one -- regardless of their actual financial situations.

Many lenders were much more interested in making a quick buck than finding out if their customers were actually going to be able to handle future payments. Not all of them were predatory lenders, but quite a few of them were overzealous, to say the least.

Now that we're seeing the consequences of such a carefree lending environment, we must commit ourselves to fighting predatory lending and tightening things up for legitimate lenders.

This would obviously start with education programs for potential borrowers. Education should become a mandatory part of the mortgage process, from the first time a future home owner walks through the door right up to the moment that he or she signs the papers.

Even after that, having counseling services available for when times get tough could do wonders for most families. Instead of thinking that they don't have options, they could see that there are many ways to hang on to their homes. One missed payment does not automatically have to lead to mortgage foreclosure a few months down the road.

We can certainly change things for the better without having a negative impact on business. I know this, because perhaps the biggest lender of them all, Freddie Mac, has already embarked on major initiatives that will both mitigate the effects of this crisis and prevent a recurrence.

At the very outset, Freddie Mac voluntarily stepped forward to tighten its underwriting standards and strengthen its award-winning education programs on smart borrowing and predatory lending. Then, just a few weeks ago, Freddie Mac announced $20 billion in new products that will provide lenders with more choices for subprime borrowers. These fixed-rate and hybrid adjustable-rate products will limit payment shock by offering reduced adjustable rate margins, longer fixed-rate terms, and longer reset periods.

Freddie Mac has definitely set the pace -- which makes it all the more disappointing that so many other institutions have failed to step up and make similar changes. We are going to need all hands on deck if we're going to truly change things for the better, and that includes lenders of all sizes, in every community.

It's not just in the borrowers' interest to hold on to a home. And it's not just in lenders' interest, either. It's important for all of us, as Detroiters, as Michiganians, and as Americans. We can't afford to do nothing. We can't afford to let this happen on our watch.

We're all in this together, and we'll all be better off if we fix these problems and preserve affordable housing for the next generation of home owners.

State Sen. HANSEN CLARKE, D-Detroit, represents Michigan's 1st Senate District.Write to him in care of the Free Press Editorial Page, 600 W. Fort St., Detroit 48226 or oped@freepress.com.

Labels: Financial Stability, InTheNews

Press Release

MEDIA CONTACTS:
Cara I. Belton, 313-226-9484 or cell, 313-520-8454
Laura L. Rodwan, 313-226-9484 or cell, 313-477-2750

COMMUNITY ORGANIZATIONS COME TOGETHER TO PROVIDE ASSISTANCE, ANSWERS, AND HOPE TO RESIDENTS

Given the alarming rate of foreclosures in Macomb County, many families are finding themselves in need of assistance and answers from experts. In an effort to address residents’ needs, community organizations, government and human service organizations, and financial institutions will host a free foreclosure and financial assistance fair on Saturday, June 9 from 9am – 2pm at the Warren City Hall, One City Square, ¼ mile north of 12 mile, east of Van Dyke.

The event, “Keeping Your Home in Troubling Times,” is designed to provide options and essential information to those experiencing financial challenges. Guests will able to meet with foreclosure counselors from Michigan State University Extension and Lighthouse Community Development. In addition, the fair will feature family activities such as learning how to garden or cook on a budget. Guests may also attend any of 15 presentations during the morning and afternoon, including “Selling a Home When Faced with Foreclosure” and “Negotiating with Mortgage Companies.”

Information will also be available on:

Bankruptcy
Budgeting
Credit Repair
Emergency Assistance
Foreclosure
Identity Theft
Predatory Lending
Responsible Borrowing

“We’re finding that many individuals are not only facing foreclosure, but struggling to manage a number of other issues at the same time,” said Greg Sterns, Manager Financial Education Counseling, Lighthouse Community Development. “We’re hosting the fair in order to help consumers feel empowered, and realize that there are solutions and valuable resources available to them.”

Throughout Southeast Michigan, foreclosure rates have increased dramatically over the past year. Wayne County experienced a 143% increase, Oakland County – 64% increase, and Macomb County experienced a 234% increase. The State of Michigan experienced an overall increase of 141% in its foreclosure rates.

According to Michael J. Brennan, president and CEO of United Way for Southeastern Michigan, the June 9 fair is an example of the type of proactive approach that is needed to combat high foreclosure rates in Macomb County and the region overall. “This fair is part of United Way’s ongoing effort to develop a unified approach in educating the community about the root causes of financial crisis. We believe that collaboration is a key component to preventing foreclosure, and we remain committed to addressing the underlying causes of our region’s most pressing issues.”

WHAT: A Fair on Foreclosure and Financial Assistance

WHEN: Saturday, June 9, 9am – 2pm

WHERE: Warren City Hall, One City Square, ¼ Mile north of 12 Mile east of Van Dyke

For information on foreclosure assistance please call United Way’s 2-1-1 by dialing 2-1-1 or 800-552-1183.

Donations Provided by:

C & G Newspapers • Central Macomb Credit Union • Fifth Third Bank • First State Bank • Flagstar Bank • Huntington Bank• Metro Credit Union• Metropolitan Consolidated Association of REALTORS •National City Bank • Paramount Bank • United Way for Southeastern Michigan• Warren Bank

Community Partners

City of Warren • City of Roseville •Department of Human Services • Good Shepherd Coalition • Internal Revenue Service• Leaps and Bounds Family Services• Legal Aid and Defender Association •Lighthouse Community Development • Macomb County Asset Building Coalition • Metropolitan Consolidated Association of REALTORS •Macomb County Department of Planning and Economic Development •Macomb County Community Services Agency• Macomb Care Connect •Macomb County Michigan State University Extension • United Way for Southeastern Michigan•

Labels: Financial Stability, Press_Releases