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NAACP Economic Department NEW ENGLAND NAACP STATE CONFERENCE SATURDAY, SEPTEMBER 27TH, 2014 LILLIAN D. SINGH DIRECTOR OF ECONOMIC STRATEGIC PARTNERSHIPS
NAACP Economic DepartmentNEW ENGLAND NAACP STATE CONFERENCE
SATURDAY, SEPTEMBER 27TH, 2014
LILLIAN D. SINGH
DIRECTOR OF ECONOMIC STRATEGIC PARTNERSHIPS
NAACP ECONOMIC DEPARTMENT 2
NAACP Economic Departme
nt 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.
NAACP Economic Game Changer
NAACP ECONOMIC DEPARTMENT 3
NAACP Economic Departme
nt
Three Pillars:
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.
NAACP ECONOMIC DEPARTMENT 4
Racial Economic Inequality
Unemployment
Wealth Gap
Homeownership
Lack of Education
NAACP ECONOMIC DEPARTMENT 5
Structural and Racist Barriers
Source: Atlanta Constitution Journal
NAACP ECONOMIC DEPARTMENT 6
Wealth Inequality
in America
NAACP ECONOMIC DEPARTMENT 7
EmploymentThis 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/
For the last 50 years, in good times and bad, African Americans have had about twice the unemployment of whites.
FAMILIES ARE LIVING ON THE EDGE
Liquid Asset Poorlack 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
NAACP ECONOMIC DEPARTMENT 9
NAACP Economic
Department
Economic
Education
Fair Lending
Diversity &
Inclusion
Community &
Economic Developm
ent
NAACP ECONOMIC DEPARTMENT 10
ECONOMIC EDUCATIONFacilitates events around the country to educate local and state conference NAACP units on financial education topicsProvides grants to individuals to perform financial education at the local level
NAACP ECONOMIC DEPARTMENT 11
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-bankNID
NAACP ECONOMIC DEPARTMENT 12
Engage in the NEAC’s
Financial Freedom
Campaign
WORKSHOPS• 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.
NAACP ECONOMIC DEPARTMENT 13
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
NAACP ECONOMIC DEPARTMENT 14
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
Fair Lending– How You can Engage?
NAACP ECONOMIC DEPARTMENT 15
COMMUNITY ECONOMIC DEVELOPMENT
Wealth Creation
Strengthening Community
Assets
Job 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.• 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.
NAACP ECONOMIC DEPARTMENT 16
Community Economic Development– How You can Engage?
Tell us what is most important to you!
Building a Strong Asset House!
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 ECONOMIC DEPARTMENT
NAACP ECONOMIC DEPARTMENT
NAACP Job Resources: Job Finder
www.NAACPJOBFINDER.COM to find the next job fair or the opportunities posted on the website.
How can you help?
•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.
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NAACP ECONOMIC DEPARTMENT 19
Economic Opportunity Website: NAACP.org/econ
www.NAACP.org/econ
NAACP ECONOMIC DEPARTMENT 20
Financial Freedom Campaign Media Presence
NAACP ECONOMIC DEPARTMENT 21
NAACP Economic Partnerships
NAACP ECONOMIC DEPARTMENT 22
• 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
Studies show African Americans are less prepared for disasters. Having a plan for your
family is a great way to ensure you are ready!!
