The Facts

» Approximately 25 percent of residents are a paycheck away from being on the street. » One third of our region’s residents don’t make enough to meet their basic needs. » Our region’s residents are spending $20 million in payday lending/check cashing fees because they don’t have a relationship with a banking institution and lack important financial knowledge. » Mortgage foreclosures have increased 143% in the past year.

Increasing stability across the region

Financial instability affects everyone in a family and can lead to poor school attendance, crime, poverty, and an inability to meet basic needs. Individuals and families have the right to support themselves, which means being smart with their money, building savings, and gaining assets like a home.
We’re helping people overcome the cycle of poverty and become financially independent by:

• Helping people increase their income
• Helping people maximize expenses and build savings
• Helping people gain and sustain assets

Our Work

Our Financial Stability Partnership is a regional collaboration that seeks to help people make the most of their money and build savings and assets. It includes financial education hubs that provide a host of resources including financial education courses and assistance with building a relationship with a financial institution.

In partnership with Detroit LISC , we’ve launched The Greater Detroit Centers for Working Families. This proven business model helps families move out of debt by providing coordinated one-on-one services like workforce development, financial counseling, and access to income and benefit supports.  Learn more about this work.

As part of the Regional Asset Building Coalition, we provide free tax preparation at IRS-certified sites throughout the community. Volunteer tax preparers also help clients claim important tax credits like the Earned Income Tax Credit. Learn more about this work.

You can also learn more about the work of the Regional Asset Building Coalition by visiting their online work space on Google Groups.

Our Individual Development Account (IDA) program has helped hundreds of individuals learn to save for a home, education, or small business while providing a financial match from program partners. Learn more about this work.