Ways to Work Making a Difference, Changing Lives

1. Ways to WorkMaking a Difference, Changing Lives Powerful market-based intervention for low-income families Leverages expertise of high performing local human service agencies with national office economies of scale Evidence-based program with strong outcomes Lasting, meaningful change in economic status & quality of life for most clients and their families “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

2. Ways to Work At a Glance Unique asset development, economic self-sufficiency program Serves hard working families with challenging credit status/histories with a demonstrated will to advance themselves and their families Combines financial education, counseling, affordable loans and case management with high expectations and real-world accountability WtW loans range up to $6,000 for up to 30 months at a flat 8% interest rate resulting in typical monthly payments of $150-$220 Clients save between $750 and $3,000 or more in interest alone versus their alternatives (Buy Here, Pay Here dealers)

3. Ways to Work Approach Focused financial education for all applicants – Prepares client for car loan experience and documents their readiness. The process includes: “Just-in-time” classroom-based financial education session with pre/post testing One-on-one household budgeting and credit report review/repair education Car serves family and program – Clients come to program to gain affordable transportation but leave receiving the support and guidance needed to succeed in future credit experiences Ongoing human intervention is critical –Successful clients are significantly impacted by quantity and quality of case management support during repayment period (~10% default rate in the program vs. a 35% or higher “normal” default rate.)

4. Selected Results from 2011 Evaluation Ninety-four percent (94%) of WtW clients indicate that their car helped them maintain or improve their employment circumstances (44% got a promotion or raise) Eighty-two percent (82%) of clients sustain themselves without TANF cash assistance after their loan despite having received it before participating in WtW Twenty-six percent (26%) of clients indicate that they have increased their educational attainment since receiving their WtW loan Fifty-eight percent (58%) of clients reported becoming banked by conventional financial institutions since participating in the program – checking and savings accounts, new car loan or other credit Nearly all participants indicate that the car has helped them provide better care for their children and do more things for and with their children Taking into consideration the combined benefits for borrowers, employers and taxpayers, WtW yields an approximate 250 percent return, or $2.50 for every $1 invested