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October 2018 Newsletter

RAISE Texas News

Do YOU Want to be Featured in a RAISE Texas Monthly E-Newsletter?

RAISE Texas sends monthly e-newsletters to our network of over 3,600 to relay important information about what is going on in the asset-building field locally, statewide and nationally. We want to highlight some of our NEW MEMBERS in our 2019 e-newsletters. Becoming a member in October gives you a chance at being featured in one of our e-newsletters next year! We would like to share your story about the great work you are doing in the community and the innovative ways you are helping Texans become more financially successful. Join today!

Only Two Years Ago, RAISE Texas Officially Launched its CSA Work in Texas

With the passage of the statewide mandated financial education in grades K-8 in Texas schools, RAISE Texas and partners conducted two pilot feasibility studies in two school districts to expand Children’s Savings Accounts (CSAs) for College into schools throughout Texas while using the financial education as a tool to increase knowledge and skills about saving, saving for college, bank accounts, etc. These feasibility studies have helped us launch new CSA efforts in the state to increase the amount of Texas students that attend and complete college. Click here to read the research findings or here for more about our work throughout the past 10 years. #RT10

Texas News

What the heck is fintech? Find Out at the AFN Event on October 4

Join North Texas Asset Funders Network (AFN) to learn more about the role of nonprofits and philanthropy in the promising global trend that is expanding financial inclusion: fintech- the use of innovative technology that connects consumers to digital financial service platforms such as online and mobile banking. The event, Catalyzing INCLUSION: Financial Technology (Fintech) & the Underserved, will be held on October 4 at the United Way of Metropolitan Dallas from 8:30am- 10:30am. Guest speaker Jess Dorrance, University of North Carolina, Center for Community Capital, will share her expertise and perspective on successful models of fintech inclusion. Register today!

Houston Financial Inclusion Summit on October 9

Join National Disability Institute, the Federal Deposit Insurance Corporation and the City of Houston, Mayor’s Office for People with Disabilities on October 9 in Houston for the Financial Inclusion Summit: Assuring People with Disabilities Access to Mainstream Financial Services. This Summit will be held at the Metropolitan Multi-Services Center from 10:00am - 3:00pm. Come and join the discussion on strategies for improving financial access for individuals across the spectrum of disabilities. Registration is required so please REGISTER NOW! Space is limited and available on a first come first served basis.

National News

AFCPE Job Opportunity for an AmeriCorps VISTA

AFCPE is looking for an AmeriCorps VISTA member for the November 2018/2019 service year! Benefits include: Living Allowance, Relocation Allowance, Choice of Education Award or End of Service Stipend, Childcare assistance (if eligible), Training, and Health Coverage*. Apply online by October 17. Click here to fill out the application.

Upcoming Webinar on New Empowered Cities Partnership

Empowered Cities is a partnership between Citi Community Development (CCD) and National Disability Institute (NDI) that will engage municipalities and community partners across the U.S. to design, test and deliver innovative and scalable solutions for expanding financial empowerment and financial inclusion in the disability community. NDI is hosting a webinar to discuss this work on Tuesday, October 23 from 2-3 pm Central Time. The webinar, Defining Financial Inclusion for Persons with Disabilities and Why It Matters, will provide an overview of Empowered Cities, identify common myths about disability that sometimes limit financial empowerment, provide insight into this growing demographic, identify the need for financial empowerment and financial inclusion for persons with disabilities and highlight key strategies from the field. Register today!

Report: Average Student Loan Debt Continues to Climb

The Institute for College Access & Success released a new report that shows average student debt for American college graduates continued to grow in 2017. Student Debt and The Class of 2017 reports that 65 percent of graduates are in debt and owing an average of $28,650. The report also finds that student loan burdens are disproportionately borne by low-income students, students of color, and first generation college students. Read the report here.

Chapters of New Book to Improve Outcomes for Workers and Employers Available

A collaboration among the Federal Reserve System, the Heldrich Center, the Ray Marshall Center, and the Upjohn Institute have come out together with a new book, Investing in America’s Workforce: Improving Outcomes for Workers and Employers, which will offer research, best practices, and resources for workforce development practitioners and policymakers. Each chapter identifies specific workforce development programs and policies that provide positive returns to job seekers, to employers and to society. The book is divided into three volumes but the full book release is not until November 9, 2018. There are select chapters available for preview here.

New Report on Expanding Retirement

The Aspen Institute Financial Security Program has released a Rapporteur’s Report from the Second Annual Aspen Leadership Forum on Retirement Savings, entitled “Expanding Retirement Security Through Public and Private Innovation.” The report explains the urgent need for public and private innovation in the retirement arena, and how the Aspen Leadership Forum on Retirement Savings is building the leadership network to achieve universal retirement security. Click here to read the report.

Blog Post: College Debt Can Limit 401(k) Saving
Recent Squared Away blog post discusses the growing amount of student debt and what research found about the impact these financial debt obligations might have on people’s ability to prepare for retirement. Click here to read the post.