Developing an Asset-Building Agenda: Lessons from the Field

DEVELOPING AN ASSET-BUILDING

AGENDA: LESSONS FROM THE FIELD

September 27, 2012

With Support from The Ford Foundation

Hosted by

MODERATOR

Melissa WellsPolicy Assistant,Joint Center for Political and Economic Studies

DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE

FIELD

Howard UniversityCenter on Race and Wealth (CRW)

Working to enrich the dialogue and research to support asset building and wealth accumulation while addressing issues related to racial wealth disparities

Supports policy education ofFord Foundation granteesabout best practices andstrategies for asset building,using a variety of media andvenues

Asset-Building Policy Initiative

Coalition for a Prosperous Mississippi

DirectorMelbah Smith

Illinois Asset Building Group

IABG Coordinator Senior Policy

Associate, Heartland Alliance

Lucy Mullany

http://www.illinoisassetbuilding.org/content/lucy-mullany

7

Empowering Mississippians

Developing an Asset-Building Agenda: Lessons From The Field

How We Came Into Being


DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE FIELD



Diversity in Partnerships

Institutions of Higher Learning Public Policy AdvocatesFinancial Institutions State LegislatorsSocial Service Agencies Agriculture AgenciesFaith-Based Coalitions Entrepreneurs





CPM Structure



• Challenges Encountered/Resolved

• Unlikely Allies

• Stakeholder Organizations

Organizational Growth/Development





Sustaining Engagement

Lucy Mullany

Hi! I’m a Senior Policy Associate with Heartland Alliance and the Coordinator of the Illinois Asset Building Group!

Our Beginning

www.illinoisassetbuilding.org

Heartland Alliance

Shriver Center

Coalition Structure


Steering

Committee

Community Leadership

Councils

Working

Groups

Challenges


Communicating Effectively About Asset Building

Engaging a Stakeholders Needed to Move Our Policy Agenda Forward:

• Statewide

• Diverse Constituency

Creating Opportunities for Sustained Engagement

Political Environment

Unlikely Allies & Stakeholder Organizations

Sustaining Engagement

….When Change is not Immediate

http://vimeo.com/48346070



Our Policy Agenda & Environment



Policy Agenda 2012

Farm Bill 2012IDA Legislation

Cooperative StatuteNon-Custodial Father Initiative



The State of Things

Agenda SettingDrivers

The Process

Asset-Building: Barriers/Opportunities



Politics in Mississippi

Policy Agenda 2013

Children’s Savings AccountsAutomatic IRAsSafe Banking Products (Bank On & Safe Alternative Small Dollar Loans)Payday Lending ReformsAsset Limit Reforms

Automatic IRA

Policy

Require Illinois businesses with more than 10 employees and that have been established for more than 2 years to provide their employees with access to an Individual Retirement Account (IRA). Employees may opt-out of the Automatic IRA program and adjust their contribution at any time. To reduce administrative costs, the IRA accounts will be pooled accounts administered by the State Treasurer’s Office.

Automatic IRA

Strategy

Building Political Will Legislation introduced in 2012 & 2012 Subject Matter Hearing in the House in 2012

Research Report was released in September that addressed key questions from legislators

Mobilization & Outreach

Automatic IRA

Next Steps

1. Dissemination of Research2. Media Outreach3. Continued Education of Legislators4. Outreach to the Business Community

Children’s Savings Accounts

Policy

1. Universal Children’s Savings Accounts (CSAs) created at birth (long term campaign)

2. Increase Access to the State’s 529 College Savings Account program (series of administrative & legislative changes)

Children’s Savings Accounts

Strategy & Next StepsMobilization: Hosting community trainings and roundtables on

529 college savings and CSAsCommunications: Collecting video testimonials for a larger

marketing & outreach campaignResearch: Collecting data on current 529 College Savings

Account participants in IllinoisBuilding Political Will: 1. Illinois General Assembly created a CSA task force in 2010.2. Working with key state offices to implement incremental

changes.3. Possibly Introducing CSA or 529 Legislation in 2013

Banking the Unbanked

Policy

State and local governments should encourage financial institutions to offer products and services that meet the needs of lower-income communities, encouraging more people to participate in mainstream banking.

Mainstream financial institutions should be encouraged to offer low-cost alternatives to payday loans and check cashing to begin developing relationships with clients unfamiliar or uncomfortable with them.


Bank On Mobilizing & Outreach: Engaging more banks and service providers Research: Collecting data during the first year Building Political Will: Working with other Treasurer’s to create similar programs across the state


Alternative Payday LoansResearch: Profitability Model & ToolkitBuilding Political Will: Working with the State Treasurer’s office & Chicago Treasurer’s office to disseminate toolkit.Mobilization: Training Community Spokespersons





CPM Policy AgendaPolicy Setting

ProcessChallenges

Lessons Learned

Mississippi: Asset-Building Policy



Policy-Agenda-Setting Process





Moving Our Agenda Forward

Policy Change

Communications Research

Building Political Will Mobilization

Engaging Members In Agenda Creation

Formal Informal Surveys Focus Groups Leadership Meetings

One-on-One Community Meetings

Brown Bag Lunch Series Story Collection

Political Environment in Illinois

Democrats controlling the State General Assembly with Concentrated Power

Republican State TreasurerMany New State Legislators in 2013Difficult Budget Environment

Moving Policy in this Environment

Advocating for Small Changes with Limited Cost

Example: Children’s Savings Accounts 529 Account AccessDefault Investment TypeExemption from Asset Test on TANFRequiring Data Collection on ApplicantsAcceptance of ITINs



Advocating for Small Changes with Limited Cost

Example: Alternative Small Dollar Loans & Payday Reforms Zoning Legislation Linked Deposit Ordinances



Building a Case for Future Change

Example: Automatic IRAInformational HearingRetirement Savings Report Media Campaign



Recognizing Opportunities

Examples:Leveraging National Initiatives to Affect Change (i.e. GEAR UP CSA Pilot Program)Partnership with Department of Child Support Services




Asset-Building Policy Development In Mississippi



Strategy for policy advancementOvercoming Obstacles

Implementation

Asset-Building Policy: The Process



Cooperative Statute Expansion BillPayday Lending Legislation

Educated constituencyPowerful Lobbyist

Civic Engagement Campaign Submit Bill in 2013 Legislative Session

Policy Campaign

Measuring Our Impact

Measuring Progress Made Toward Goal• Meetings with Legislators• Number of Policy Champions – decision makers

participating in events, co-sponsors• Number of Advocates participating in a campaign• Spokesperson trainings on the issues• Media exposure• Communication “Hits” – downloads of a report, shares on

social media, website traffic, etc.• Administrative & Legislative Changes


Melbah SmithDirectorCoalition for a Prosperous Mississippi

Lucy MullanyIABG CoordinatorSenior Policy Associate, Heartland Alliance


http://www.illinoisassetbuilding.org/content/lucy-mullany

Contact

Lucy MullanyIABG Coordinator

Senior Policy Associate, Heartland Alliance312-870-4939

[email protected]

Learn More: www.illinoisassetbuilding.org

mailto:[email protected]

http://www.illinoisassetbuilding.org/

Documents

Developing an Asset-Building Agenda: Lessons from the Field