Transcript 2014 State Conference Economic Department

NAACP Economic
Department
NEW ENGLAND NAACP STATE CONFERENCE
SATURDAY, SEPTEMBER 27TH, 2014
LILLIAN D. SINGH
DIRECTOR OF ECONOMIC STRATEGIC PARTNERSHIPS
NAACP
Economic
Department
NAACP Economic Game Changer
Economic
Sustainability
A chance to live the American
Dream for all.
Every person will have an equal
opportunity to achieve
economic success,
sustainability, and security.
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Three Pillars:
NAACP
Economic
Department
 Empower local communities with the
necessary education, resources and
partnerships to develop sustainable economic
models that advance diversity and equity.
 Ensure that government and industry are
knowledgeable, and committed to bridging
racial inequality particularly as it relates to
employment, wealth, lending and business
ownership.
 Grow a movement of concerned citizens and
organizations who work together to produce
an inclusive and strong middle class economy
for the 21st century.
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Unemployment
Racial
Economic
Inequality
Lack of
Education
Wealth Gap
Homeownership
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Structural
and Racist
Barriers
Source: Atlanta Constitution Journal
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Wealth
Inequality in
America
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For the last 50 years, in good times and
bad, African Americans have had about
twice the unemployment of whites.
Employment
This unemployment rate hides the larger number of African Americans not working full time or
“marginally” attached to the workforce, this is normally about twice the unemployment rate.
As many as 27% of African Americans between the ages of 20 and 24 are not employed or in school.
http://blogs.wsj.com/economics/2014/07/11/are-more-young-adults-falling-through-the-cracks/
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FAMILIES ARE LIVING ON THE EDGE
Liquid Asset Poor
lack savings to cover basic
expenses for three months if job
loss, a medical emergency, or
other crisis leads to a loss of
stable income.
26% of households
earning between $55,000
and $90,000 are liquid
asset poor
Economic
Education
Community
&
Economic
Development
NAACP Economic
Department
Fair
Lending
Diversity &
Inclusion
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ECONOMIC EDUCATION
Facilitates events around the country to educate local and state conference
NAACP units on financial education topics
Provides grants to individuals to perform financial education at the local level
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Economic Education – How You can Engage?
 Conduct financial education workshops at the branch level
Plug into Financial Planning Association (Free financial
Planners)
Plug into community events and distribute economic
education material
FDIC
Connect with our National Partners
Hands-on-bank
NID
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WORKSHOPS
Engage in the
NEAC’s
Financial
Freedom
Campaign
• Community Economic Development (Asset
Development, financial planning, credit rehabilitation,
retirement and savings, micro-lending and jobs)
• Fair lending and Home Ownership (Mortgage
Foreclosure, Pay Day Lending, Micro-Lending)
EXPOSURE
• Expose individuals to Economic Education information
and resources in non-workshop events such as Freedom
Fund Dinners, resource fairs, job fairs, etc.
SUPPORT CAMPAIGNS
• Join and support a statewide economic campaign to
advance fair lending and state budget fiscal policies.
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FAIR LENDING
 Monitors state and federal policy related to mortgage, auto, payday, and small dollar
bank lending
Performs analysis of Home Mortgage Disclosure Act (HMDA) for evidence of
discrimination at the lender level
 Meets with bank partners around fair lending issues, products, and initiatives to reduce
the un- and under-banked population
 Researches and evaluates data and reports to determine impact on racial inequality
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Fair Lending– How You can Engage?
Partner with Juan Cofield and the Mass Alliance
Against Predatory Lending over the next year
Share concerns of predatory lending and
foreclosures with the NAACP Economic Department
[email protected]
Read our reports, engage in the conversations, respond
to our calls to participate in CFPB hearings, and/or white
house fly-ins
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COMMUNITY ECONOMIC DEVELOPMENT
• The Community and Economic
Development program focuses on wealth
creation through asset development.
•Wealth softens the blow of unexpected
events, such as job loss or even a downturn
in the economy and provides capital to take
advantage of opportunity.
Wealth Creation
Job Development
Strengthening
Community Assets
• Assets are key drivers of wealth,
community revitalization and personal
financial freedom.
•The Community and Economic
Development Program establishes asset
development infrastructure in
communities of color leveraging the
NAACP network and resources.
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Community Economic Development–
How You can Engage?
Tell us what is most important to you!
Building a Strong Asset House!
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Diversity and Inclusion
1. Opportunity and Diversity Report Cards
2. NAACP and Dunkin Brands have partnered to strengthen
diversity in franchising
3. The Professional Development Network (PDN) powers the
NAACP JobFinder
4. Gateway to Leadership NAACP works with the United Negro
College Fund (UNCF) to provide paid summer internships to
students attending HBCU’s at Wall Street investment banks.
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NAACP Job Resources: Job Finder
•Spread the word about the
NAACP Job Finder Website.
•If a Job fair is happening in
your city participate by
setting up a NAACP booth.
www.NAACPJOBFINDER.COM to find the next job fair
or the opportunities posted on the website.
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Economic Opportunity Website:
NAACP.org/econ
www.NAACP.org/econ
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Financial Freedom Campaign Media
Presence
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NAACP Economic Partnerships
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Studies show African Americans are less prepared for disasters.
Having a plan for your family is a great way to ensure you are ready!!
• The NAACP signed a memorandum of agreement with the Federal
Emergency Management Agency in July of 2013 to help increase
preparedness among communities of color
• One area of partnership is promoting the importance of financial
preparedness by using tools found on
www.ready.gov/financialpreparedness
• Equally important is taking action with our families we know how to
communicate in times of a disaster www.ready.gov for more
information
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Thank You,
Questions?
L ILLIAN D. SINGH
L [email protected]
202-478-6403