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Connecticut Asset Building Collaborative Launch

ACF regional staff joined stakeholders from all over the state to attend the launch of the Connecticut Asset Building Collaborative on November 7, 2013.  Held at Southern Connecticut State University, this event brought together representatives from state and city agencies, community organizations, policy groups, financial institutions and advocates. The purpose of the Collaborative is to provide opportunities for organizations and interested individuals to work together to assist low-income families to increase their assets and financial stability.

Many new programs and strategies for helping low-income families increase their financial security are being developed and tested in Connecticut and in other states. The Collaborative provides the opportunity for a broad group of stakeholders including consumers; policy makers; representatives from non-profit and public agencies, foundations, banks and credit unions, research organizations, local and state government  to work together to expand asset building policies and programs for low-income families across the state.

Keynote speaker, Jonathan Mintz, Commissioner of Consumer Affairs for New York City and co-chair of Cities for Financial Empowerment, highlighted emerging program models in New York and other cities. The agenda included a “State of the State of Asset Building in Connecticut”; roundtables on topics of interest; and a luncheon organized by region to encourage regional networking.

Financial pressures facing low to moderate income families in Connecticut have risen since 2008. According to CT Voices for Children’s August 2012 report, one in five households in the state is “asset poor,” meaning that household assets are insufficient to support the needs of a family for 3 months if family income was interrupted.

Partnering Agencies on the Steering Committee include:
All Our Kin
Community Action Agency of New Haven
Connect to Work Benefits Counseling Program, CT Department of Rehabilitation Services,
Connecticut Association for Human Services
Connecticut Community Foundation
Connecticut Voices for Children
CT Department of Labor IDA Clearinghouse
FSW, Inc.
Liberty Bank
State of Connecticut Office of the Treasurer
UConn Extension
United Way of Greater New Haven
Yale Program for Recovery and Community Health