Opportunity and Hope 25 years: Putting Dreams to Work

Statewide economic development organization 25 th year! 501 © 3; founded in 1987 Offices in Milwaukee, Madison, Racine and Kenosha Local, Regional, National and International Partnerships Emphasis: women, low-income individuals and minorities Wisconsin Women’s Business Initiative Corporation (WWBIC) We assist men and women!

Services WWBIC Offers Quality Business Education Access to Fair Capital Economic Self-Sufficiency Business Assistance Start Smart Graduate

Disability and Poverty People with disabilities are more likely to be unemployed and live in poverty than any other single demographic group in the United States today In 2010, for individuals in between the ages of –12.8% of people without disabilities had income below the poverty level –27.3% of people with disabilities had income below the poverty level Source: U.S. Census Bureau, 2010 American Community Survey

Economic Empowerment-What is It? Economic Empowerment is a series of strategies designed to: –help people with disabilities improve economic stability –decrease stress and financial crisis in an individual’s life –expand opportunities for community participation, and –positively impact an individual’s quality of life experience. The notion that employment is one goal NOT the only goal. (NDI, 2012)

Economic Empowerment-Why is It Important? For people with and without disabilities, saving money and developing assets produces choices that directly impact quality of life, especially regarding: –mental and physical health –positive self-concept and level of community participation –expectations and status with other community stakeholders (NDI, 2012)

5 Principles of Asset Development & Economic Empowerment 1.Self-determination/Self Direction 2.Asset-Building 3.Full Accessibility to Services and Supports 4.Peer Support/Recovery 5.Leverage available Infrastructure

Individual Development Accts (Traditional) IDAs are matched savings accounts that enable low-income American families to save, build assets, and enter the financial mainstream. IDAs reward the monthly savings of working families who are building towards purchasing an asset. 2:1 Match Asset Building Home ownership, education, business

Pilot Program Offered to people with disabilities Up to 8:1 match o You save $500.00= $4, Expanded asset goals o Automobile/Transportation o Pay down debt o Start a business o College o Assistive Technology o Other In partnership with State of WI/UW- Stout

Money Management Series Make Your Money Talk, a Financial Education Series designed to educate, motivate, and assist you in creating a spending and savings plan. We Focused on: ¤ Determine Need vs. Want ¤ Consumer Rights and Responsibilities ¤ Creating a Savings and Spending Plan Met monthly for 2 hrs One-on-One Counseling

Participant Reflections Empowerment & Pride “It really brought me from nothing to something” “My confidence has grown considerably” “..it’s made me look at myself and my spending habits and my finances more closely, and realize that I’ve got more control over them than I might have thought”

Participant Reflections Important for Youth “I would try to make it available for high school kids. They should have this-then all their life they wouldn’t have to, you know, learn the hard way. I wish I knew this before I ever left high school.”

Participant Reflections Need for better collaboration “I learned more about what’s available-I had no idea that service was out there”

Initiatives in Wisconsin AEI, Alliance of Economic Inclusion, partnership with FDIC o 2 nd chance checking and savings accounts Wisconsin Saves o Social marketing campaign o

Initiatives in Wisconsin Money Smart Week 2013 o April 20-27, 2013 o o Statewide! Money Conference o April, 2013 o o Statewide! o Madison, Milwaukee, Appleton, Racine/Kenosha, Shawno & Wausau

Next Steps & Goals Follow-Up on Participant Recommendations: – Improve asset development awareness with disability “system partners” – Expand Enhanced IDA option in Wisconsin – Empower more people with disabilities to save in traditional IDA accounts

Questions? Amber Miller, MBA, MHEA Project Director Wisconsin Women’s Business Initiative Corp N. Dr. Martin Luther King Jr. Dr. Milwaukee, WI Office: Check us out at