2011 DC EITC Campaign Savings Promoter / Intake Specialist Training

Goals for the Day  Learn about the DC EITC Campaign  Understand your role as a volunteer  Learn about tools to help clients take positive financial action  Leave feeling ready to help ANY client take one positive financial step 2

DC EITC Campaign: A building block to a brighter financial future  3 Primary Goals: Promote awareness of tax credits Provide tax preparation Encourage taxpayers to TAKE ACTION  11 Tax Sites in DC, MD, VA  Key Partners

Savings Promoters: Our Goal Promote FINANCIAL FREEDOM What does that mean? 4

Savings Promoters: Our Goal 5

Our Clients  Income- up to $22k single up to $42k families  Average Income: $15,968  Claim EITC: 37%  No Bank Account: 18%  Report Saving ANY Money: 21%  Report Saving Regularly: 4%

Agenda  About the Campaign  How Tax Sites Work  Screening & Intake Break  Financial Products & Resources Break  Framing & Messaging 7 You Are Here

Your Role at the Tax Site  Screening, Intake, & Exit  Introducing Financial Resources & Opportunities  Registering Clients for Additional Services Money Management / Financial Coaching Savings Bonds Bank Accounts PNC Prepaid Debit Cards and Free Check Cashing (Selected sites) The Key: Encourage EVERY client to take ONE POSITIVE STEP

Your Resources  Savings Promoter Guide  Site-specific Materials  Financial Resource Marketing Materials  Campaign Team  YOUR OWN INITIATIVE

How Tax Sites Work: Site Staff

How Tax Sites Work: Client Flow

Working with Clients: Potential “Speed Bumps” Previous Experiences Language Confusing Forms & Literacy Issues Disabilities and Physical Limitations Finances are Sensitive Homelessness Grumps Potential Speed Bumps?

Screening & Intake 13 Goals Ensure we can serve the client Build trust Prepare the Preparers

Greeting / Screening & Intake 14

Screening: Campaign Requirements  Income Limits $22,000 or $42,000  Documentation Social Security Cards / ITINs ID W-2s, 1099s, Other Tax Documents 15

Screening: Campaign Requirements II  Need to File? Earned income Any withholdings Kids Educational expenses Unsubsidized rent  Complexity Limits No business owners No sales of property No rental property No capital gains Some sites may have other limitations 16

Intake: After Forms are Completed oIntake oIf Client Doesn’t Qualify, Explain WHY oSavings Discussion oExplain Process oUpdate Sign In Sheet 17 Advanced IssuesNot Served Today self- empl oyme nt pensi on home owne r educ ation expe nses other "advanced" issues, please specifiy Not Pres ent when calle d Missi ng pape rwork Over Inc. or too comp lx Will Retur n  

Screening & Intake is Done!  Time for practice See page 29 in your handbook 18

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Money Menu Savings Bonds Money Management 101 Pre-Paid Debit Card and Check Cashing Bank on DC Financial Coaching E-Newsletter

Savings Bonds Page 24 in your handbook

Savings Bonds- Quiz How many Americans own U.S. Savings Bonds? Over 1 million Over 10 million Over 50 million Which of the following are true about Series I U.S. Savings Bonds: They pay a competitive interest rate (.74% currently). They can be purchased for as little as $50. They can only be redeemed where they were purchased. They can be purchased as gifts for anyone else – all you need is the gift recipient's name.

Savings Bonds- Target Audience  Parents & Grandparents 70% of buyers bought for others  Larger Refunds $3.4k for average buyer $1.7k for average non-buyer  Specific Savings Goals Education Retirement

Savings Bonds- How it Works  “Client Wants to Buy a Bond” form  Follow up with Tax Preparer Form 8888

Money Management 101  Target audience: everyone  Information for clients: helps you take control of your money 5-week course at MLK or Benning Library Free, interactive class

CAAB e-newsletter 26  Financial tips and tricks  Upcoming events and classes  Target audience: every client with address

Prepaid Debit Cards- PNC Bank  Jubilee Jobs and MLK Library  Benefits: Faster refund Avoid check cashing fees Completely free at PNC Track expenditures Establish relationship with bank

Prepaid Cards- Info for Clients  Enables direct deposit  Spends like a regular debit card  Free online / phone balance inquiries  Non-reloadable  Fees: - ATM fee withdrawal (at a non-PNC or Allpoint ATM) $ Statement Generation Fee $ Teller Cash Advance Fee $ Card Replacement Fee $ Inactivity Fee (after 3 month of inactivity) $3.00 per month - Live Agent Fee $2.50

29 PNC Card Ordering Process Step #2: Login to PNC System

30 Step #3: Select ‘Enrollment’ Menu Option PNC Card Ordering Process

31 Step #4: Confirm ‘Program’ Selection & Select ‘Continue’ PNC Card Ordering Process

32 Step #5: Enter Taxpayer Information (SSN is required) PNC Card Ordering Process

33 Step #6: Select ‘Preview Cardholder’ to Verify Entry PNC Card Ordering Process

34 Step #7: Select ‘Submit’ After Data Verified PNC Card Ordering Process

35 Step #8: Review Successful Card Order, Note ‘Account’ & ‘Card’ Numbers PNC Card Ordering Process

36 Note: If Data Entry Error, Return to Menu and Select ‘Find Cardholder’ to Edit PNC Card Ordering Process

37 Step #9: Order Next Card or Signoff PNC Card Ordering Process

Prepaid Cards- How it Works  Application & direct deposit  Card mailed to client  Refund deposited onto card  Client activates card

PNC Bank- Free Check Cashing  Jubilee Jobs, MLK Library, UPO  Client receives 2 letters  Client will need: Letter Refund check Picture ID If Married Filing Jointly, both spouses

Bank On DC  Target audience – clients not direct depositing  Information for clients:  Bank on DC Accounts are offered by 11 financial institutions  No monthly fees, low opening balance  Second chance accounts  Banks may be at tax site

Financial Coaching  On-site Arlington & Alexandria  Off-site Financial Cafes CAAB’s Money Management 101

Earned matching funds from CAAB $3,000 Client savings $1,000 $4,000 HOME SMALL BUSINESS EDUCATION or JOB TRAINING Target audience: those working and saving for a home, education or business Matched Savings Program – Individual and Marriage Development Accounts

Other Site Services

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Discussion Flow Chart

Framing & Messaging 1. Small talk 2. Transition to savings promotion 3. Conversation starters 1. Ask a question 2. Pitching one option 4. Share something personal 5. Close the deal

Small Group Presentations  Choose one topic to discuss  Make it engaging and friendly  Encourage people to talk with you afterwards to ask questions

Measures of Success  Savings bonds purchased  Money Management 101 enrollments  CAAB e-newsletter enrollments  Success stories 48