September 27, 2012 With Support from The Ford Foundation Hosted b y

MODERATOR Melissa Wells Policy Assistant, Joint Center for Political and Economic Studies

Working to enrich the dialogue and research to support asset building and wealth accumulation while addressing issues related to racial wealth disparities

Supports policy education of Ford Foundation grantees about best practices and strategies for asset building, using a variety of media and venues

Director Melbah Smith

IABG Coordinator  Senior Policy Associate, Heartland Alliance Lucy Mullany

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Empowering Mississippians How We Came Into Being

Empowering Mississippians

Diversity in Partnerships Institutions of Higher Learning Public Policy Advocates Financial Institutions State Legislators Social Service Agencies Agriculture Agencies Faith-Based Coalitions Entrepreneurs

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field

Empowering Mississippians CPM Structure

Empowering Mississippians Challenges Encountered/Resolved Unlikely Allies Stakeholder Organizations Organizational Growth/Development

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field

Empowering Mississippians Sustaining Engagement

Hi! I’m a Senior Policy Associate with Heartland Alliance and the Coordinator of the Illinois Asset Building Group!

Our Beginning Heartland Alliance Shriver Center

Coalition Structure Steering Committee Community Leadership Councils Working Groups

Challenges  Communicating Effectively About Asset Building  Engaging a Stakeholders Needed to Move Our Policy Agenda Forward: Statewide Diverse Constituency  Creating Opportunities for Sustained Engagement  Political Environment

Unlikely Allies & Stakeholder Organizations

Sustaining Engagement ….When Change is not ImmediateWhen Change is not Immediate

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Our Policy Agenda & Environment

Empowering Mississippians Policy Agenda 2012 Farm Bill 2012 IDA Legislation Cooperative Statute Non-Custodial Father Initiative

Empowering Mississippians DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE FIELD The State of Things Agenda Setting Drivers The Process Asset-Building: Barriers/Opportunities

Empowering Mississippians DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS FROM THE FIELD Politics in Mississippi

Policy Agenda 2013  Children’s Savings Accounts  Automatic IRAs  Safe Banking Products (Bank On & Safe Alternative Small Dollar Loans)  Payday Lending Reforms  Asset Limit Reforms

Automatic IRA Policy Require Illinois businesses with more than 10 employees and that have been established for more than 2 years to provide their employees with access to an Individual Retirement Account (IRA). Employees may opt-out of the Automatic IRA program and adjust their contribution at any time. To reduce administrative costs, the IRA accounts will be pooled accounts administered by the State Treasurer’s Office.

Automatic IRA Strategy Building Political Will  Legislation introduced in 2012 & 2012  Subject Matter Hearing in the House in 2012 Research  Report was released in September that addressed key questions from legislators Mobilization & Outreach

Automatic IRA Next Steps 1.Dissemination of Research 2.Media Outreach 3.Continued Education of Legislators 4.Outreach to the Business Community

Children’s Savings Accounts Policy 1.Universal Children’s Savings Accounts (CSAs) created at birth (long term campaign) 2.Increase Access to the State’s 529 College Savings Account program (series of administrative & legislative changes)

Children’s Savings Accounts Strategy & Next Steps Mobilization: Hosting community trainings and roundtables on 529 college savings and CSAs Communications: Collecting video testimonials for a larger marketing & outreach campaign Research: Collecting data on current 529 College Savings Account participants in Illinois Building Political Will: 1. Illinois General Assembly created a CSA task force in Working with key state offices to implement incremental changes. 3. Possibly Introducing CSA or 529 Legislation in 2013

Banking the Unbanked Policy  State and local governments should encourage financial institutions to offer products and services that meet the needs of lower-income communities, encouraging more people to participate in mainstream banking.  Mainstream financial institutions should be encouraged to offer low-cost alternatives to payday loans and check cashing to begin developing relationships with clients unfamiliar or uncomfortable with them.

Banking the Unbanked Bank On  Mobilizing & Outreach: Engaging more banks and service providers  Research: Collecting data during the first year  Building Political Will: Working with other Treasurer’s to create similar programs across the state

Banking the Unbanked Alternative Payday Loans  Research: Profitability Model & Toolkit  Building Political Will: Working with the State Treasurer’s office & Chicago Treasurer’s office to disseminate toolkit.  Mobilization: Training Community Spokespersons

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field

Empowering Mississippians CPM Policy Agenda Policy Setting Process Challenges Lessons Learned Mississippi: Asset-Building Policy

Empowering Mississippians

Developing an Asset-Building Agenda: Lessons From The Field

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field

Moving Our Agenda Forward Policy Change Communicati ons Research Building Political Will Building Political Will Mobilization

Engaging Members In Agenda Creation Formal Informal  Surveys  Focus Groups  Leadership Meetings  One-on-One Community Meetings  Brown Bag Lunch Series  Story Collection

Political Environment in Illinois  Democrats controlling the State General Assembly with Concentrated Power  Republican State Treasurer  Many New State Legislators in 2013  Difficult Budget Environment

Moving Policy in this Environment Advocating for Small Changes with Limited Cost Example: Children’s Savings Accounts  529 Account Access  Default Investment Type  Exemption from Asset Test on TANF  Requiring Data Collection on Applicants  Acceptance of ITINs

Moving Policy in this Environment Advocating for Small Changes with Limited Cost Example: Alternative Small Dollar Loans & Payday Reforms  Zoning Legislation  Linked Deposit Ordinances

Moving Policy in this Environment Building a Case for Future Change Example: Automatic IRA  Informational Hearing  Retirement Savings Report  Media Campaign

Recognizing Opportunities Examples:  Leveraging National Initiatives to Affect Change (i.e. GEAR UP CSA Pilot Program)  Partnership with Department of Child Support Services

Empowering Mississippians Developing an Asset-Building Agenda: Lessons From The Field Asset-Building Policy Development In Mississippi

Empowering Mississippians Strategy for policy advancement Overcoming Obstacles Implementation Asset-Building Policy: The Process

Empowering Mississippians Cooperative Statute Expansion Bill Payday Lending Legislation Educated constituency Powerful Lobbyist Civic Engagement Campaign Submit Bill in 2013 Legislative Session Policy Campaign

Measuring Progress Made Toward Goal Meetings with Legislators Number of Policy Champions – decision makers participating in events, co-sponsors Number of Advocates participating in a campaign Spokesperson trainings on the issues Media exposure Communication “Hits” – downloads of a report, shares on social media, website traffic, etc. Administrative & Legislative Changes

Empowering Mississippians

Lucy Mullany IABG Coordinator Senior Policy Associate, Heartland Alliance Learn More: