In 2012, several Connecticut nonprofit organizations sent representatives to the Corporation for Enterprise Development (CFED) conference in Washington, D.C. When they returned they met several times to share information and began asking why Connecticut did not have many of the programs and services that other states presented at the conference. They also asked whether an organization solely devoted to the purpose of promoting asset building for low and moderate income families would be beneficial in Connecticut, as was true in other states. After consulting with other organizations and key stakeholders in the state, the group decided a state-wide organization devoted to asset building could serve as a catalyst to expand opportunities for increasing the financial capability and stability of families, and so the Connecticut Asset Building Collaborative was conceived and officially launched in November 2013.
All families and individuals in Connecticut acquire the knowledge and ability to navigate the financial services field and effectively manage their personal finances, and are empowered to take advantage of a broad range of opportunities to build wealth, thus fundamentally improving life for disadvantaged Connecticut residents.
- Outreach to Media
- Educate consumers, public/private social service agencies, legislators, funders
- Disseminate research on need for and efficacy of asset building/financial capability services and programs
- Advocate for administrative and legislative policies that support asset-building for low-income individuals and families.
- Advocate for expansion of asset-building opportunities for low-income individuals and families.
Build Member Service Delivery and Advocacy Capacity
- Share best practices
- Facilitate peer learning opportunities
- Provide TA to nonprofits
- Conduct advocacy trainings
- Develop shared metrics for program evaluation
- Provide TA to public and non-profit agencies
Connect stakeholders statewide and nationally
- Create/maintain state directory of programs
- Ongoing outreach to diverse stakeholders
- Regularly communicate with members on opportunities, actions, information, etc.
- Leverage national Assets & Opportunity Network for learning and advocacy resources and to enhance impact
- Promote increased partnerships and coordination to enhance service delivery.
- Communicate collaborative activities to members.
Link to Theory of Change
CAHS in partnership with CABC was awarded a grant for a Bank On Coalition Fellow for New Haven! Hiring is open NOW!
We are very excited to be working with Bank On! The grant money goes toward the salary of a staff person who will be responsible for developing the Coalition in New Haven and working with the banks to develop products that meet the needs of low income consumers. Matching funds need to be raised to meet the grant requirements, which the steering committee is working on.
The Bank On Fellow will be a member of the Bank On Fellowship cohort with four other Fellows around the country. The Fellow will provide leadership to the Bank On New Haven initiative to make significant advancement in local banking access efforts. The Fellow will be responsible for directing and realizing the vision of Bank On New Haven, overseeing day-to-day operations, and coordinating with the CFE Fund. This fellowship is a minimum two-year commitment. The United Way of Greater New Haven has agreed to house the staff person. We need to hire the staff person by September. The hiring process is being run by CAHS, with a job description here.
CABC received a generous donation from Farmington Bank
Farmington Bank made a generous donation to the Connecticut Asset Building Collaborative as part of their promotion of their new Fresh Start Savings program. To read more about the program go here.