Hosted by
With Support from The Ford Foundation
September 27, 2012
DEVELOPING AN ASSET-BUILDING
AGENDA: LESSONS FROM THE FIELD
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
Melbah Smith
Director
Lucy Mullany
IABG Coordinator
 Senior Policy
Associate,
Heartland Alliance
7
How We Came Into Being
Empowering Mississippians
Empowering Mississippians
Diversity in Partnerships
Institutions of Higher Learning
Financial Institutions
Social Service Agencies
Faith-Based Coalitions
Public Policy Advocates
State Legislators
Agriculture Agencies
Entrepreneurs
Empowering Mississippians
Developing an Asset-Building Agenda: Lessons From The Field
Empowering Mississippians
CPM Structure
Empowering Mississippians
Organizational Growth/Development
• Challenges Encountered/Resolved
• Unlikely Allies
• Stakeholder Organizations
Empowering Mississippians
Developing an Asset-Building Agenda: Lessons From The Field
Empowering Mississippians
Sustaining Engagement
Empowering Mississippians
Hi! I’m a Senior Policy Associate with Heartland Alliance and the
Coordinator of the Illinois Asset Building Group!
Heartland
Alliance
Shriver
Center
www.illinoisassetbuilding.org
Steering
Committee
Community
Leadership
Councils
Working
Groups
www.illinoisassetbuilding.org
 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
www.illinoisassetbuilding.org
….When Change is not Immediate
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
Asset-Building: Barriers/Opportunities
The State of Things
Agenda Setting
Drivers
The Process
Empowering Mississippians
DEVELOPING AN ASSET-BUILDING AGENDA: LESSONS
FROM THE FIELD
Politics in Mississippi
Empowering Mississippians
 Children’s
Savings Accounts
 Automatic
IRAs
 Safe
Banking Products (Bank On
& Safe Alternative Small Dollar
Loans)
 Payday
 Asset
Lending Reforms
Limit Reforms
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.
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
Next Steps
1.
2.
3.
4.
Dissemination of Research
Media Outreach
Continued Education of Legislators
Outreach to the Business Community
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)
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 2010.
2. Working with key state offices to implement incremental
changes.
3. Possibly Introducing CSA or 529 Legislation in 2013
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.
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
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
Developing an Asset-Building Agenda: Lessons From The Field
Empowering Mississippians
Mississippi: Asset-Building Policy
CPM Policy Agenda
Policy Setting
Process
Challenges
Lessons Learned
Empowering Mississippians
Empowering Mississippians
Developing an Asset-Building Agenda: Lessons From The Field
Empowering Mississippians
Developing an Asset-Building Agenda: Lessons From The Field
Empowering Mississippians
Communicati
ons
Policy
Change
Building
Political Will
Research
Mobilization
Formal
 Surveys
 Focus Groups
 Leadership Meetings
Informal
 One-on-One Community
Meetings
 Brown Bag Lunch Series
 Story Collection
 Democrats controlling the State General
Assembly with Concentrated Power
 Republican State Treasurer
 Many New State Legislators in 2013
 Difficult Budget 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
www.illinoisassetbuilding.org
Advocating for Small Changes with Limited Cost
Example: Alternative Small Dollar Loans &
Payday Reforms
 Zoning Legislation
 Linked Deposit Ordinances
www.illinoisassetbuilding.org
Building a Case for Future Change
Example: Automatic IRA
Informational Hearing
Retirement Savings Report
Media Campaign
www.illinoisassetbuilding.org
Recognizing Opportunities
Examples:
Leveraging National Initiatives to Affect Change
(i.e. GEAR UP CSA Pilot Program)
Partnership with Department of Child Support
Services
www.illinoisassetbuilding.org
Developing an Asset-Building Agenda: Lessons From The Field
Asset-Building Policy
Development In Mississippi
Empowering Mississippians
Asset-Building Policy: The Process
Strategy for policy advancement
Overcoming Obstacles
Implementation
Empowering Mississippians
Cooperative Statute Expansion Bill
Payday Lending Legislation
Educated constituency
Powerful Lobbyist
Policy Campaign
Civic Engagement Campaign
Submit Bill in 2013 Legislative Session
Empowering Mississippians
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
www.illinoisassetbuilding.org
Lucy Mullany
IABG Coordinator
Senior Policy Associate, Heartland Alliance
312-870-4939
lmullany@heartlandalliance.org
Learn More: www.illinoisassetbuilding.org