THE ABC’S OF ASSET BUILDING IN TRIBAL COMMUNITIES PRESENTED BY: N. IRIS FRIDAY, NATIVE AMERICAN PROGRAM SPECIALIST NW OFFICE NATIVE AMERICAN PROGRAMS

PRESENTATION OBJECTIVES Why Asset Building Matters Options for Asset Building Asset Inventory Coalition Building

WHY ASSET BUILDING? Proactive vs. Reactive Acquisition vs. Consumption Security vs. Instability Provides Options

WHAT IS ASSET BUILDING? “Asset-building is the process by which individuals, families, and communities identify, acquire, control, leverage, and preserve meaningful assets for the benefit of themselves and others.“ Assets bring a sense of security, prosperity, and hope to individuals, families, and communities who own and control them.

WHAT ARE ASSETS? Assets in Native communities include: People Family, Friends, and Community Financial capital Money, Savings, and Investments, Education College, Specialized Training and Acquired Life Skills Land & Natural Resources Water, timber, and minerals Meaningful Occupations Thriving businesses Livable Homes

WHY ASSETS MATTER Assets are essential to economic security & prosperity Assets provide a foundation for families to fall back on in tough times Assets help move families move up the economic ladder Assets provide families with control over resources, financial security, and the ability to meet unanticipated costs.

ASSET POVERTY RATES IN WASHINGTON

SUSTAINING FAMILIES In order to survive an economic downturn:  Families ideally would have enough savings to survive at 75% of current living expenses for 9 months  Educational attainment of a BA degree or higher  Income that makes it possible to afford quality housing and other needs  Health care coverage Where do you rank? Family & Friends? Co-workers? What do we need to do reach this level of financial security?

SELF-SUFFICIENT FAMILIES Options Financial Skills Budgeting & Savings Short and Long Term Goals Wealth Building thru Assets

STARTING AN ASSET BUILDING COALITION

WHY ORGANIZE? Is it better collaboration among departments? Is it to better leverage resources? Is it to provide a more cohesive service to families? Is it to strengthen partnerships? Is it to build tribal capacity/individual capacity?

TRIBAL ASSET INVENTORY Which departments offer services to support families? Education – scholarships/training Energy – Low Income Heating Assistance TANF – Funds for families Headstart – Prepare youth for grade school WIA – Workforce Development Housing – Affordable housing Health Youth Elders Human Resources

PARTNER INVENTORY HUD Approved Counseling Agency County Asset Building Coalitions Headstart Dept. of Labor Internal Revenue Service HUD’s Office of Native American Programs Community Action Agencies Tribal Colleges

WHAT WOULD COLLABORATION LOOK LIKE? LIHEAPHOUSINGHEALTHTANFWIAHEADSTART Youth Elders Family

OUTCOMES Discussions about what each dept. brings to the table Eliminate duplication of services Leverage resources

COLLABORATION GOALS Develop and strengthen the capacity of coalition through partnerships, training, and clear policy development Engage tribal leadership in Asset Building Coordinate Free Tax Preparation Sites in tribal communities; Disperse Tax Season Materials & educate on refund anticipation loans Develop a long term strategy for sustainability

ONGOING GOALS Work with existing resources and networks to get the word out Capitalize on local talents and infrastructure Organize workshops on consumer credit counseling, college scholarships, and small business development for Native families Share your successes!

CLOSING COMMENTS Get started by taking baby steps Everyone has some resource or expertise that they bring to the table – tap into it Identify your champions and supporters Plant the seeds Just do it!