March 2016 Newsletter
RAISE Texas News
It is never too late for YOU to Join the Movement!
RAISE Texas launched its annual Membership Drive last month. We are very close to reaching our goal of 20 new members and we hope that your organization will be a member of RAISE Texas this year. Thanks to all of the organizations and individuals that have joined RAISE Texas! YOUR membership will increase our success, and all of you are an essential part of our work around the state.
Membership has many benefits, and is easy and affordable, starting at as little as $100 for a Basic Nonprofit Membership. Join the RAISE Texas Network today!
The RAISE Texas Summit is Coming Up on May 11-12, 2016
The 2016 RAISE Texas Summit and workshops “Building Financial Success for Texans: In Schools, The Workplace and Our Communities” will be held on May 11- 12, 2016 at the Federal Reserve Bank of Dallas in Dallas, Texas. We will be discussing the latest cutting-edge information on:
- Financial Coaching
- Children’s Savings Accounts for College through Texas schools
- Small Dollar loan alternatives available in our state
- Implementing asset-building products and programs in the Workplace
Registration will be opening in the coming week, so keep your eyes open for our email announcement. All hotel information and an agenda for the summit will be linked in the email announcement.
Scholarships will be available to RAISE Texas members, with information on how to apply for a scholarship sent out with the registration information in the next week. We will see you there!Texas News
Payday and Auto-Title Lending Events in Lubbock
There are two Payday and Auto-Title Lending: Listening, Education, & Alternatives events scheduled in Lubbock. All non-profit case workers or clients, consumers of payday lenders and parishioners are invited to attend.
- March 9 from 11:00am-12:30pm at St. Joseph Catholic Church (click for flyer)
- March 9 from 7:00pm-8:30pm at Our Lady of Guadalupe Church (click for flyer)
To attend one of these events, please RSVP to Dario Rendon Jr at 806-252-0127 or email djr58@netzero.net.
Applications Being Accepted for the $mart Kid Essay Contest-Austin
Financial Fitness Greater Austin and Capital One Bank are hosting the $mart Kids Essay Contest, which aims to help students develop knowledge of financial concepts, recognize the importance of financial planning, and become better prepared for future roles as consumers, investors and employees. Middle school and high school students in the Greater Austin area are encouraged to write an essay answering this year’s question: “You want to make a difference in the world and your dream is to attend college. However, your family does not have enough money to pay for your education. Together, you and your family need to find ways to afford college.” Submit the essay by Thursday, April 14, 2016 to be eligible to win one of six scholarships. For more information, click here.
League of Women Voters Take on Predatory Lending in Texas
The League of Women Voters of Texas released its official position on payday and auto-title lending. According to its official statement adopted in January 2016, “The League of Women Voters of Texas supports policies, legislation, and programs that enable a small dollar loan market that maintains access to affordable credit while safeguarding consumers. Payday and auto title loan businesses should be regulated so that they can function both as a consumer service and a successful business.” To read the entire position, click here.
Longview City Council Approves Local Payday Lending Ordinance
The city of Longview has joined a growing list of cities in Texas to take action against payday lending. On February 25, the Longview City Council approved a payday lending ordinance that limits the amount of payday and auto title loans and how often these loans can be refinanced. Click here to read about the vote and testimony around it.
Job Openings LISC San Antonio
Local Initiatives Support Corporation (LISC) is opening a new branch in San Antonio, Texas and is looking for some qualified candidates to apply for two new positions. If you are interested in applying for either of the positions, please click on the links below for more details.
National News and Resources
New Brief Uses Texas Small Dollar Loan Program as Case Study for Consumer Engagement
The Asset Funders Network recently released a new brief, Consumer Engagement: Helping People Want What They Need, which describes a new approach to promoting financial empowerment that ensures low- to moderate-income consumers use and benefit from the financial empowerment services and products that organizations are offering to them. This brief defines this approach and key terms, uses case studies to illustrate the ideas and provides a set of recommendations. The Community Loan Center Small Dollar Loan Program developed and offered here in Texas is one of the case studies in the new brief. And, Timothy Flacke, the author of the brief, will be our lunch speaker on May 12th at the RAISE Texas Summit! Click here to read the entire brief.
JPMorgan Chase Institute Releases Report on Income Volatility
Paychecks, Paydays, and the Online Platform Economy: Big Data on Income Volatility, a new report by the JPMorgan Chase Institute, explores the demographics and sources of income volatility and the implications that online platforms have on this increasing issue. One of the key findings from this report is that the following groups of individuals experience more than a 30% month-to month change in total include on average:
- 70% of people aged 18-24,
- 74% of individuals in the bottom income quintile,
- and 60% of people living in the West.
Click here to read more findings from the report.
