History of RAISE Texas
In July 2008, RAISE Texas received its 501(c)(3) status and has continued to build and grow asset-building activities across Texas. On November 16-17, 2009, RAISE Texas held a summit at the Federal Reserve Bank of Dallas to continue moving our action campaigns (Matched Savings Accounts, Community Tax Centers, Alternative Small Dollar Consumer Loans, and Access to Education) forward. In 2010, RAISE Texas sponsored four regional meetings around the state to expand asset-building activities in underserved markets. RAISE Texas also established a partnership with the Office of the Consumer Credit Commissioner, who spoke at our annual statewide summit at the end of the year.
The history of RAISE Texas goes back to 2002 when we began the Texas IDA Network (TIDAN). TIDAN was created to support and expand individual development accounts (IDAs) programs in Texas.
By late 2005, we decided to change our name to the Texas Asset Building Coalition (TABC) to reflect the increased number of asset-building products and activities our members were delivering alongside their IDA programs.
In November 2005, TABC held its first statewide summit. It was titled, RAISE Texas, with “RAISE” standing for Resources, Assets, Investments, Savings, and Education. Local and state partners attended the meeting and engaged in a dialog to develop initial recommendations for new or expanded public policies and programs in support of asset development in Texas.
These recommendations were followed up with seven regional RAISE Texas meetings in 2006 to engage local asset-building stakeholders from around the state and to gather their recommendations on how to move asset-building work forward.
Through these regional meetings and the initial asset-building summit, an action agenda was developed and formalized in late 2006.
The following year in late 2007 key stakeholders met at a retreat and it was decided to formally create RAISE Texas, a statewide network of non-profit organizations, for-profit corporations, public institutions and individuals working to increase the financial stability of Texans through asset building.
In 2008, RAISE Texas became the first independent 501(c)(3) state asset-building coalition in the country.