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January 2020 Newsletter

RAISE Texas News

Happy New Year from RAISE Texas!

RAISE Texas is excited to start the new decade by focusing efforts on expanding financial coaching services through the Texas Statewide Financial Coaching Hub, and increasing savings opportunities for more Texas families! A New Year can mean a new start, but for those of us working in the asset building field in Texas, it means continuing to provide innovative programs, products and services to increase the financial stability of Texans. In such a BIG STATE, we need lots of dedicated partners and sponsors supporting and expanding these efforts. Are YOU involved? If not, start the year off right and join the RAISE Texas Network! Let’s RAISE Texas together!

RAISE Texas Discusses Ways to Increase Financial Stability with Community Leaders

RAISE Texas held its 6th meeting of community leaders in Dallas in November 2019. These Community Leadership Meetings bring together key partners from around the state to discuss how to increase the financial stability of more Texas families in each community and collectively throughout the state. This year’s discussions focused on expanding financial coaching through the Texas Statewide Financial Coaching Hub, and savings programs that are accessible and scalable to reach more Texans. Thank you to all of the individuals and organizations that took part in this important 2-day meeting. And, a special thanks to the Federal Reserve Bank of Dallas for hosting the meeting and JPMorgan Chase for funding this important work.

Texas News

Texas Statewide Financial Coaching Hub (Hub) Update

The Hub had a successful first year of expanding financial coaching in Texas. This is done through a comprehensive financial coaching training and on-going support services for financial coaches, including local Huddle meetings. We are happy to report that the first regional training in Texas took place in San Antonio. Twenty-nine financial coaches were trained and will be putting their coaching skills to work as they provide financial coaching services in the San Antonio region. In Austin, the local Huddle was launched and three huddle meetings took place in 2019 bringing together financial coaches to practice their coaching skills and network with each other. In 2020 we are planning two more regional trainings and hopefully work with local community partners to prepare to start huddles in their communities. Thank you to Foundation Communities, WiNGS, United Way of Greater Houston, United Way for Greater Austin, San Antonio Area Asset Funders Network, JPMorgan Chase, Wells Fargo, Texas Women’s Foundation, Annie E Casey Foundation and San Antonio Area Foundation for all of the hard work and support in 2019!

National News

Applications Due Next Week for New AdvancingCities Challenge

The new AdvancingCities Challenge by JPMorgan Chase & Co. will provide three-year grants of up to $5 million each to collaborative efforts focused on finding solutions to opportunity gaps in communities. For Texas cities already focused on this issue, this RFP could be a great way to get connected to other cities and resources to assist in the efforts. The deadline for applications is quickly approaching on January 15, 2020. Click here for more information!

New Rule Tightens Work Requirements for Snap Benefits Take Effect April 1, 2020

The Trump Administration is implementing a new rule that will tighten work requirements for able-bodied adults seeking access to Supplemental Nutrition Assistance (SNAP) benefits. Currently able-bodied adults without dependents can receive SNAP benefits for up to three months during a three-year period, unless they are working or enrolled in a training or education program for 80 hours a month. States are able to waive the time limit to ensure that individuals receive food stamps while working to reenter the workforce. The new rule will limit the states’ ability to extend the SNAP benefit period for adults during times of economic instability. The US Department of Agriculture estimates that 688,000 individuals would be dropped from SNAP as a result of the changes. The new rule is set to take effect on April 1, 2020. Read the Washington Post article about this new rule here.

New Blog Shares Tips from a Financial Coach to College Graduates about Money
Maggie Germano, a financial coach, was featured in a recent Squared Away Blog as she answered students’ questions at a recent personal finance session at Boston College. She shares her five best money tips: Pay attention, Get a credit rating- or fix it, Student loans are hard work, The secret to not overspending, and Goals. Read about these tips in detail here.