THE SUPERVITAMIN QUARTERLY |
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Letter from the President & CEO |
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Dear Colleagues-
Next month will mark one year since COVID-19 upended how we work and how we live. The physical, emotional, and financial devastation already suffered across the planet surely is incalculable. But our municipal financial empowerment colleagues didn’t get sidelined this year; instead, the field deeply stepped up its efforts: expanding existing programs, creating new public services, partnering with state and federal relief resources, and attracting literally dozens of additional government leaders. While I wasn’t surprised by the field delivering, we did learn something we hadn’t expected.
As of this Winter, 31 cities and counties newly will have launched Financial Navigator initiatives to provide phone-based financial triage and resource referrals; 35 municipal FEC partners will be offering, or working to launch, expanded one-on-one financial counseling through Financial Empowerment Center programs; and more than 80 Bank On coalitions are working to connect their communities to safe and affordable banking products so they can safely receive and use stimulus payments, unemployment benefits, wages, and more. Beyond this significant growth, and alongside critical public health efforts, these programs have become front-line emergency responses for local leaders.
And we noticed something else. Those of you familiar with municipal financial empowerment and the CFE Fund know that, from the beginning, this field has been designed to be data-driven; it was always clear that governments would only invest scarce public dollars if financial empowerment programs went beyond asking how people felt, and instead emphasized tangible outcomes of improvement and success. And yet – as data begins to roll in about the impact of our new Financial Navigators initiative – the data that perhaps is the most striking is about the role one-on-one service has on how people in need feel.
Those surveyed overwhelmingly agreed that the navigation service, itself, helped relieve some of their financial stress; that even among those who had never needed this type of assistance before COVID-19, they felt comfortable sharing their information; and that they found and valued the empathy and knowledge of the Navigators as a key facet to their high levels of satisfaction. In the midst of an unprecedented global pandemic, people had so much anxiety around their finances that being able to connect to a free, professional Navigator was, itself, the lifeline they needed.
What stands out from this feedback is the inherent value of having access to one-on-one financial help at all. In addition to getting connected to tangible supports and benefits, the existence of the service in and of itself proved to be a comforting validation to callers that they aren’t on their own.
Below are some of the ways that clients brought this observation to us so clearly. We are so grateful for their feedback, and so proud to work with our municipal partners to continue making measurable, meaningful impact.
Thank you, as always, for your partnership,
Jonathan
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The CFE Fund’s FECPublic initiative, with seed support from Bloomberg Philanthropies, and additional generous support from Capital One, The JPB Foundation, JPMorgan Chase & Co., and the Wells Fargo Foundation, supports local governments in working to launch professional, one-on-one Financial Empowerment Center (FEC) counseling as a free public service for residents in need.
Even in the midst of the pandemic, two partner municipalities launched their new local FEC programs: Racine, WI, and Tulsa, OK. In fact, these launches were tied deliberately to local COVID-19 emergency response efforts. The CFE Fund also recently opened up another opportunity for applications for our next FECPublic cohort; we will announce selected grantees in the coming weeks. FECs are serving a critical role as part of local governments’ COVID-19 response and recovery efforts, with counselors providing guidance to clients on the new Consolidated Appropriations (stimulus) Act as it affects their personal finances, including stimulus checks, unemployment insurance, rent relief, eviction moratoria, and the upcoming tax season.
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The CFE Fund newly launched the Financial Navigators program to support city and county leaders to help their residents address the financial impact of the pandemic. With generous emergency support from Bloomberg Philanthropies, Citi Foundation, JPMorgan Chase & Co., and the Wells Fargo Foundation, Financial Navigators in 31 cities and counties provide remote assistance to individuals helping them navigate their financial stress points and then making targeted referrals to relevant local, state, and federal resource and services.
To date, 29 of 31 partner governments have launched their Financial Navigator programs, with 97 active Navigators providing over 4,200 sessions to residents. Navigators shared over 29,500 action items with residents to connect them to relevant resources. The most common stress points identified in Navigator sessions have been for rental assistance programs, eviction moratoria, and utility assistance resources. With the December passage of the Consolidated Appropriations (stimulus) Act, the CFE Fund equipped Navigators with updated tools and resources on stimulus payments, unemployment, utility assistance, tax season, and food assistance. Partner municipalities are now focused on preparing their residents for tax season by creating partnerships with local Volunteer Income Tax Assistance (VITA) sites for mutual referrals. Financial Navigator programs also have created referral partnerships with water utilities, local contact tracing efforts, and workforce development organizations.
To learn more about the Financial Navigators initiative, contact Sol Vilera Ramos, Senior Associate.
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The CFE Fund’s CityStart initiative, with support from JPMorgan Chase & Co. and others, is a structured approach to guiding local governments as they kickstart municipally-led financial empowerment strategic planning.
In Fall 2020, the CFE Fund launched CityStart University to welcome our 3rd CityStart government cohort, including Hennepin County, MN; Jackson,TN; Montgomery, AL; Pueblo, CO; and Tempe, AZ. The program consisted of a series of online sessions that highlighted best practices of financial empowerment programs nationwide, effective strategies for racial equity and resident engagement, and the role of municipal government in financial empowerment efforts. The CFE Fund partnered with the Urban Institute to create resources and training materials related to racial equity and resident engagement in partnered cities. CityStart partners are now working to convene local stakeholders to gather insights on local financial empowerment opportunities and challenges, with the goal of producing a strategic municipal financial empowerment blueprint informed by local voices and priorities.
To learn more about CityStart, contact Tamara Lindsay, Chief of Strategy.
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With seed funding from JPMorgan Chase & Co. and multiple additional funders, the CFE Fund’s national Bank On initiative supports local coalition and financial institution efforts to connect consumers to safe, affordable bank and credit union accounts.
The CFE Fund recently announced the 2021 – 2022 Bank On National Account Standards. The Bank On movement continues to grow with more than 80 coalitions working to expand banking access nationwide into over 65 certified accounts in institutions with over 28,000 branches and its first purely digital national account provider. The CFE Fund continues to highlight the importance of a safe, affordable Bank On certified account to receive stimulus, unemployment, and other emergency benefits, including through a consumer-facing online advertising campaign.
The CFE Fund also recently accepted applications for a third cohort of the Bank On Fellowship program, sponsored by the Wells Fargo Foundation, which provides personnel funding and intensive technical assistance to help coalitions super-charge its success; the CFE Fund will announce this next Fellows cohort soon.
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The CFE Fund’s Summer Jobs Connect (SJC) initiative, generously supported by seed funder the Citi Foundation, is preparing for its eighth summer of banking access integration programming. SJC partners across 16 implementing cities are working to embed financial education and banking access into their municipal Summer Youth Employment Programs (SYEPs) for Summer 2021.
In addition, seven cities are preparing to transition from the “planning stage” of their financial empowerment programs to “implementation” in Summer 2021. As they work towards implementing their program, each city is developing a comprehensive blueprint for the upcoming program year. The CFE Fund will host a series of winter workshops designed to help SYEP partners prepare for the upcoming SJC program year. The CFE Fund also is looking back at the impact of the SJC Summer 2020 season. Despite the many challenges represented by the COVID-19 pandemic as many cities pivoted to remote programming, 80,000 youth across SJC partner cities received financial education, with nearly 30,000 youth receiving their summer pay via direct deposit. Moreover, SJC cities developed six new financial institutions partnerships to expand banking options for youth.
Finally, the CFE Fund is thrilled to share that Summer Jobs Connect was selected as a finalist for the Barron’s Celebrates Financial Literacy award. Barron's recognized three organizations that improved “the financial health and security of Americans,” and highlighted the story of Blake, a 17-year old Summer Jobs Connect participant in Chicago who said his passion for saving grew during the program.
To learn more about Summer Jobs Connect, please contact Jonathan Barata, Senior Associate.
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With initial funding from the W.K. Kellogg Foundation and ongoing support from the Annie E. Casey Foundation, the CFE Fund’s Local Consumer Financial Protection Initiative (CFPI) assists local governments to plan for and launch new consumer financial protection offices within their administrations.
The first CFPI cohort cities (Albuquerque, NM; Denver, CO; Nashville, TN; and Salt Lake City, UT) continue to focus their efforts on key issues as a result of the pandemic, such as supporting eviction moratorium related issues and communications about scams tied to economic relief efforts.
The CFE Fund’s second CFPI planning cohort partners (Chattanooga, TN; Detroit, MI; Philadelphia, PA; Shelby County, TN; and St Paul, MN) are finalizing their strategic plans with a focus on building short-, medium-, and long-term infrastructure to address an array of critical local issues. Additionally, each partner is developing a near term communications strategy that is focused on building awareness of COVID-19-related fraud and scams.
As an example of a recent key success, the City of Albuquerque adopted new legislation to protect local residents from unfair and deceptive trade practices by paid income tax preparers. Specifically, all paid preparers serving Albuquerque residents will now be required to provide a set of clear disclosures including qualifications, service fees, and a final accounting of costs, as well as a copy of the city's taxpayer bill of rights. The legislation also specifies prohibited activities as well as options for recourse and enforcement.
To learn more about the Local Consumer Financial Protection Initiative, contact Kant Desai, Principal.
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Guest Column: Mayor Nick Gradisar
City of Pueblo, Colorado
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As we start a new year, I’m hopeful. 2020 and the COVID-19 pandemic brought many challenges to the City of Pueblo and to the country, from lives lost to businesses closed to significant sacrifice from healthcare heroes and essential workers. The past year was incredibly difficult for all of us – but already, we are working to build a stronger Pueblo in 2021 and beyond.
One way we’ve done this is by committing to helping Pueblo residents deal with the financial impact of the pandemic. In October, in partnership with the CFE Fund, we joined 30 other cities and counties in launching our Financial Navigators initiative. As so many dealt with lost jobs or reduced hours, we knew we needed to do everything we could to protect the livelihoods of Puebloans suffering because of this pandemic.
Working with our partners at NeighborWorks Southern Colorado, our Financial Navigators initiative already has helped over 200 Puebloans take immediate action to manage expenses and maximize their income. Financial Navigators also have helped Puebloans connect to vital support services like rent help and energy assistance. In addition, this work has helped the City of Pueblo better understand community needs in real-time; as one example, the number of calls that Financial Navigators received about rental assistance showed us that we needed to dedicate more resources, including federal CARES Act dollars, to support residents in paying rent and staying in their homes.
Our work to build a stronger Pueblo is also about looking ahead, to help our community during, but also after, this pandemic. To this end, we are working with the CFE Fund on a Pueblo CityStart initiative, a strategic planning process that engages community members and local stakeholders in creating a municipal financial empowerment blueprint. We are convening community members to gather feedback on how the City can help build resident financial stability, from expanding access to safe banking products to providing supports like financial counseling to hone in on the most significant financial issues facing Puebloans and work to make changes that support the financial stability of Pueblo families.
As Mayor, I’m committed to building a better Pueblo – and that includes a financially strong Pueblo and financially stable and strong residents.
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News from the CFE Coaliton |
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Boston, MA Launches Remote VITA Season
The Boston Tax Help Coalition is in the midst of planning to launch a primarily-remote minimal-contact VITA tax season and will provide special advocacy for taxpayers to take advantage of the Lookback Provision, part of the most recent economic relief package that will allow individuals who worked less than usual in 2020 to rely on 2019 income to qualify for tax credits.
Lansing, MI Analyzes Drivers License Fines and Fees
New York City, NY Explores Vulnerable Student Loan Borrowers
Philadelphia, PA Takes Part in NLC 2020 Eviction Prevent Cohort
Philadelphia’s Office of Community Empowerment and Opportunity recently participated, along with several other City departments, in the National League of Cities’ five-city Eviction Prevention Cohort.
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Current Grant Opportunities |
Stay tuned for more opportunities coming soon!
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Current Employment Opportunities at the CFE Fund |
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Financial Empowerment "In the News" |
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