Financial Empowerment Loan Program: Ways to Work

1. Financial Empowerment Loan Program:Ways to Work Today’s Webinar is Sponsored By

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5. Submitting Questions For Q&A: Please use the chat box or Q&A box to send any questions you have during the webinar to Jamie Robinson or NakiaMatthews and we will direct the questions accordingly during the Q&A portion. • If you are listening by phone and not logged in to the webinar, you may also ask questions by emailing questions to nmatthews@ndi-inc.org Please note: This webinar is being recorded and the materials will be placed on the National Disability Institute website at www.realeconomicimpact.org

6. Technical Assistance • If you experience any technical difficulties during the webinar, please use the chat box to send a message to the host Nakia Matthews, or you may also email nmatthews@ndi-inc.org.

7. Welcome & Introductions Jamie Robinson Manager, Financial Empowerment & Workforce Training & Technical Assistance Team National Disability Institute

8. Special Thank You To Our Sponsors National Disability Institute would like to recognize and thank its sponsors:

9. National Disability Institute A national research and development organization with the mission to promote income preservation and asset development for persons with disabilities and to build a better economic future for Americans with disabilities.

10. NDI’s Real Economic Impact Network • An alliance of organizations & individuals dedicated to advancing the economic empowerment of people with disabilities. • Consists of more than 900 partners in more than 100 cities in US. • Includes non-profits, community tax coalitions, asset development organizations, financial education initiatives, corporations & private-sector businesses, federal/state/local governments & agencies, and individuals & families with disabilities. • All partners join forces to embrace, promote & pursue access to & inclusion of people with disabilities in the economic mainstream.

11. Presenter Linda Brost Vice President of Business Development and Marketing Ways to Work, Inc.

12. Moving Families toward aBrighter Future Funded by:

13. For One Day….. Imagineyour life without a car… Imagine that, starting tomorrow, you had to find a different way to work… How long would it take you to get to work if you had to ride a bus…or multiple buses to get there? How would you get your children to daycare…to school…to the doctor if they were sick?

14. What is Ways to Work? Build financial knowledge, capability, and improved credit scores Overcome transportation barriers to access additional education and job training Solidify position in the workforce and access improved employment opportunities Attain greater financial stability and economic self-sufficiency A unique economic empowerment program that helps hard-working, credit-challenged families:

15. Ways to Work Program Model Focused financial education for all applicants “Just in time” curriculum based training at a teachable moment Brought to the individual level through personal coaching An affordable, character-based loan with real-world expectations for repayment, most often used to purchase a reliable used car 24-36 month loan repayment period serves as a practicum to apply lessons learned and practice new behaviors, with case management support

16. The Ways to Work Loans Character-based loans approved via Host agency staff recommendations Local volunteer loan committee review Loan values up to $8,000 – flat 8% interest rate Loans carry 24-36 month repayment terms Typical monthly payments of $150 to $240/month Borrowers commonly save $750 to $3,000 versus predatory options

17. Who are Ways to Work Clients? The typical borrower: A single mother, one or more children Employed, meets low to moderate income standards Poor or non-existent credit history Dedicated to improving family economic prospects

18. Ways to Work Structure • National Office • program model • lending capital • central lending system • training, technical, and operational support • Local Non-profit Host Agency • staffing • partnership development • program oversight, implementation and operational funding • Community Support • local United Ways, foundations, employers and JARC provide funding, collaborations, committee members, etc.

19. The Ways to Work Network Over $63 million in loans Supporting more than 32,000 families Provided 125,000 financial education experiences Current 24-month repayment rate is ~90% WOW Launch July 2012

20. The Ways to Work Network Currently 52 Offices in 21 States

21. 2011 Evaluation Summary Impressive Results 94% reported WtW car helped them maintain or advance in their employment 82% of borrowers sustain themselves without TANF cash assistance despite receiving it prior to their WtW loan 90% of borrowers reported WtW education and counseling helped them improve their financial situation. Credit scores improved during and after program participation 2011 Evaluation of the National Ways to Work Program

22. National Media Coverage

23. Changing Lives “Having a car has been a very big help to me, and to the entire family. Ways to Work helped me repair my life—not just my credit.” – Ways to Work Client

24. Moving Families toward aBrighter Future Thank You! Linda Brost 414.213.3045 / lbrost@waystowork.org

25. Presenter Dawn Lockhart President & CEO Family Foundations

26. Building Assets: A Framework for Moving Families from Poverty to Self-Sufficiency March 20, 2013

27. Broad Definition • Assets are more than financial • Families must have multiple resources to succeed • Conducted Pilot Program to test what assets are significant

28. Framework

29. What We Learned • Social • Child Care • Housing • Transportation • Parenting Skills • Human • Job Training • Criminal Background not a barrier • Financial • Earned Income Tax Credit • Accountability

30. Questions & Answers

31. Wrap-Up &Thank You Join us for our next webinar: Wednesday, April 10, 2013 3p.m. – 4p.m. EST Check out future webinars as well as archived webinars (such as today’s recording) by going to our website www.realeconomicimpact.org

32. Special Thank You To Our Sponsors National Disability Institute would like to recognize and thank its sponsors:

33. Find us at:www.realeconomicimpact.org twitter.com/realeconimpact facebook.com/realeconimpact youtube.com/user/RealEconomicImpact flickr.com/photos/realeconomicimpact/ realeconomicimpact.tumblr.com