March E-Newsletter: Stay Up To Date with Midas
The Midas Collaborative: 
Building Towards the Future

In 1999, Midas started as a savings   incentive and asset acquisition program  of the Allston Brighton Community Development Corporation.  As the financial challenges of families became more challenging, the breadth of Midas' work expanded. 

Recently, Midas ended our Financial Coaching and Confidence Program. 
As one of the only program of its kind, the program served hundreds of clients skillfully helping to improve their financial health through remote coaching and planning.  The strategic decision to close the program was a very difficult one given its importance and impact. Midas is thankful for the commitment and expertise of the coaching staff in creating a trusting, highly supportive and action-oriented relationship with clients. 

However, this decision does not impact Midas' continued commitment to asset building, advocacy, and sharing best practices to enhance financial capability programs and services by member and partner organizations across the state. Massachusetts families continue to face rising costs, a widening income and wealth gap, and systemic issues that lead to financial insecurity . Our work is more important now than ever. 

We look forward to expanding our impact with our members, partners, funders, supporters and YOU. We thank you for your continued partnership.

Please consider making a tax-deductible donation to Midas today. Every little bit helps. Give a gift of just $20 that creates stronger families and more prosperous communities.
Friday, April 27, 2018: The MassSaves Annual Summit on Financial Health and Wellness

Sign up today ! The MassSaves 10th Annual 
Financial Health a nd Wellness Summit  will be held on Friday, April 27, 2018 at Framingham State University in Framingham, MA. The Summit is an opportunity for providers, teachers, financial educators, and supporters from all backgrounds to network, share, and learn.

The 2017 Summit highlighted the successes across our state and a pathway to incorporate within our own work. Over 95% of attendees said they were "highly likely" or "likely" to incorporate the information from the Summit into their work. The 10th annual Summit builds on our efforts to elevate the field by empowering and equipping us with the latest tools, resources, and knowledge. Don't miss out!
Advocating for Financial Security

As a collaborative network, we are able to amplify our efforts to create more prosperous communities. Below are updates on how we are building awareness and support with member and partner organizations, supporters, and clients for a more equitable and stronger Massachusetts.

Investing in Massachusetts Families:
Advocating for Consumer Protections:
  • Debt Collections Fairness Act
    • In Massachusetts, there is not a transparent system in place that protects borrowers from debt collection abuses. Nearly 25% of residents have one or more debts in collection, owing an average of $1002 per debt. Of these residents with a debt in collections, 46% are people of color showing that the issue disproportionally affects communities of color and exacerbates the racial wealth gap. Midas is leading efforts to ensure families are not trapped in debt with passage of The Debt Collections Fairness Act. Learn more here.  
  • Consumer Financial Protection Bureau (CFPB)
    • Following the 2008 financial crisis, the CFPB was formed in 2010 to protect consumers from unfair, deceptive, or abusive practices and have taken action against companies that break the law. Due to a recent leadership change and funding restrictions, necessary consumer protections are under fire. Stay tuned for opportunities to advocate for the CFPB and the millions of families that rely on their work. 
Interested in building awareness and support within your own organization or network? Contact us ! Turn your support into action.

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