Promoting Financial Stability and Financial Independence
United Way of McLean County is focused on Income. Working with our community, we will provide individuals and families realistic solutions that increase their financial stability. We recognize that the outcomes for programs focused on income must be addressed within a specific order and in a step-like manner. Individuals and families must have family-sustaining employment before they can be expected to obtain and maintain safe, affordable housing. In the same manner, individuals and families must have manageable household debt and expenses before they can be encouraged to increase their savings and gain assets. Individuals and families can take steps forward as well as backward, depending on several individual and community factors.
Outcome 1: Individuals and families maximize the income supports they receive.
Outcome 2: Individuals and families obtain and maintain family-sustaining employment.
Outcome 3: Individuals and families obtain and maintain safe, affordable housing.
Outcome 4: Individuals and families have manageable debt and expenses.
Outcome 5: Individuals and families have the necessary financial assets to avoid financial crisis.
Based on input from key stakeholders in our community, United Way has identified specific strategies for each of these critical points that have the best chance for getting individuals and families on track for financial stability wherever they may fall on the stair step model. These outcomes and strategies will be used to evaluate the effectiveness of direct service programs and community impact initiatives funded under the Income area.
Individuals and families maximize the income supports they receive.
Strategies:
- Provide awareness and education of available resources and benefits
- Assist clients with enrollment and maintenance
- Provide awareness and education of system navigation, opportunities for enrollment
- Identify and address barriers to client enrollment
- Advocate on behalf of clients to ensure fair access to eligible benefits
- Facilitate information sharing among all service providers
Low income individuals and families obtain and maintain family-sustaining employment.
Strategies:
- Provide basic education, occupational training and career education to low-income workers
- Provide occupational training and targeted career development opportunities to the unemployed and under-employed
- Remove client barriers to retaining employment
- Provide education and training on career counseling and career advancement opportunities
- Engage employers for job placement partnerships
- Provide employment placement following training
Low income individuals and families obtain and maintain safe, affordable housing.
Strategies:
- Assist clients to minimize the number of moves they make
- Work with tenants and landlords to maintain housing Increase usage and awareness of tenant rights
- Educate clients on tenant responsibilities
- Assess and address safety risks of current client housing
- Provide awareness and education on affordable housing options
- Provide referrals and follow-up to all programs client is eligible for regarding safe, affordable housing
- Provide advocacy to help individuals maintain their primary residence through mortgage and foreclosure modification programs
- Assist clients in locating and securing safe, affordable housing
Individuals and families have manageable debt and expenses.
Strategies:
- Reduce client usage/reliance on predatory lending and short-term loans
- Provide micro-credit services that benefit low-income individuals and families
- Provide experienced, trained debt counseling
- Educate individuals and families on budgeting, debt management and financial responsibility
- Assist clients to prioritize financial responsibilities and necessities
- Work to repair client credit and improve credit rating
Low income individuals and families have the financial assets necessary to avoid financial crises.
Strategies:
- Assist clients to preserve the assets they have Increase access to and use of traditional banking by the unbanked and under-banked
- Provide targeted financial education on the benefits of saving and investing
- Promote regular savings by providing incentives
- Assist clients with increasing their savings
- Provide access to Individual Deposit Accounts for specific purposes
- Assist clients to acquire and maintain financial assets