Health and Wealth NetworkApril 29, 2020

Today’s Topic:

Field Discussion: The Intersection of Health and Wealth During the COVID Crisis

Today’s Hosts

Parker Cohen(He/Him)

Interim Director, Savings & Financial Capability

Prosperity Now

Laura Yepez(She/Her)

Senior Program Associate, Savings & Financial Capability

Prosperity Now

Ariel Sankar-Bergmann(She/Her)

Senior Program Manager,Savings & Financial

CapabilityProsperity Now

Getting the Most Out of Today’s Call

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Prosperity

Now’s mission

is to ensure

everyone in our

country has a

clear path to

financial stability,

wealth and

prosperity.

Housekeeping

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Today’s Agenda

Introductions and Context Framing

Learnings from the Last Listening Sessions

Field Discussion: COVID and the Health and Wealth Connection

Making Connections & Summary

Prosperity Now’s COVID Resource Page & Other Resources

Next Steps & Close

Today's Speakers

Molly O’Donnell(She/Her)

Founder and DirectorSave First Financial WellnessCatholic Charities of Oregon

Dr. Lucy Marcil(She/Her)

Executive Director, Streetcred

Associate Director for Economic Mobility, Center for the Urban Child and Healthy Family

Assistant Professor of Pediatrics, Boston University

Today's Speakers

You!Health and Wealth

Prosperity Now Community

Prosperity Now hosted three listening sessionsto evaluate the impact of COVID-19 on our field.

We had nearly 400 field partners join the Listening Sessions, sharing with us various experiences and the unprecedented need to support low-wealth neighborhoods, small businesses, and vulnerable individuals across the country.

Listening Sessions Learnings

Crisis management is priority for most. Providing critical services (access to food, and public benefits like unemployment Insurance, health care, etc.) are gaps that community-based organizations need to fill during this crisis.

Many organizations are shifting to virtual service delivery. This is a new area for many community-based organizations. Leaders also cited a lack of access to technology as a barrier to client service delivery.

Guidance on policy opportunities for strong federal, state and local policy solutions that focus on supporting individuals grappling with financial insecurity.

WHO IS THE MOST

VULNERABLE DURING

AN ECONOMIC CRISIS?

While the scale of the impact of the pandemic will remain

unknown for some time, one thing is certain: this public

health crisis will directly, or indirectly, affect every individual

across the globe. Although everyone is vulnerable to

contracting the virus, the risk of developing severe or lethal

illness is not equally distributed across the population. The

elderly and those with certain preexisting health conditions

are especially vulnerable. Similarly, the negative impact that

this crisis will have on the finances of families and

individuals will disproportionately hurt those who are

already economically vulnerable.

1. Over 45 million households that

don’t have enough cash on hand to weather an emergency

2. Tens of millions of American

workers who are employed in low-wage occupations, or are

paid hourly wages3. Racial and ethnic minorities,

immigrants, and women, all of

whom are more likely to work in low-wage occupations and have

less in savings4. Undocumented immigrants,

who face additional challenges

and are largely excluded from accessing social supports

5. Low-wage workers in certain occupations and states that fail to provide those workers with

vital protections and benefits

Social Determinant of Health and COVID

Health and Financial Insecurity

COVID-19 and Financial Insecurity

Field Discussion

Molly O’Donnell(She/Her)

Founder and DirectorSave First Financial WellnessCatholic Charities of Oregon

Dr. Lucy Marcil(She/Her)

Executive Director, Streetcred

Associate Director for Economic Mobility, Center for the Urban Child and Healthy Family

Assistant Professor of Pediatrics, Boston University

Save First’s Unique Formula For Success

EMPLOYEE PERSPECTIVE

Hook: Resource navigation, funds for emergency needs

Capture: Financial Wellness Workshop covering the basics of budgeting, savings, debt and credit

Engage: One-on-one Financial Coaching – a deeper dive into their personal financial situation

Lift: Matched Savings & Small Dollar Loan programs for education, homeownership, debt repayment, small business capitalization, housing and car purchase

EMPLOYER PERSPECTIVE

Support: Emergency Assistance Fund Administration

Educate: Financial Wellness Workshop required for all recipients of assistance funds

Encourage: One-on-one Financial Coaching – an opt-in for those motivated to make a change

Grow: Matched Savings & Small Dollar Loan programs for education, homeownership, debt repayment, small business capitalization, housing and car purchase

How has Save First adapted their services to meet the needs of clients in the COVID crisis?

How have you seen other organizations in the broader Catholic Charites network adapt their services?

▪ Streetcred is based in Boston, MA at Boston Medical Center

▪ Streetcred works to embed tax services into pediatric clinics to increase receipt of tax credits improve family wellbeing

▪ To date we have returned $6.3 million to 3000 families in 6 states

▪ Last summer, Streetcred launched a technical support network (Medical Tax Collaborative), currently have 20 active healthcare partners (represent 9 states & DC)

The Streetcred Model

How have the clinical needs of your patients changed and how are you responding to those needs?

How have mental health needs of your patients and staff changed and how are you responding to those needs?

Poll

▪ Not providing any services

▪ Still providing limited in-person services or just basic needs

▪ Providing services online only

▪ No change in service provision

▪ Other [tell us more in the question box!]

Poll: What is going on with your organization/programs right now? [Select all that apply]

▪ Not working or in dire need of emergency funds and services

▪ Still working, not urgent yet

▪ Providing services online only

▪ Working

▪ Other [tell us more in the question box!]

Poll: How would you describe the financial situation of most of your clients?

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You!Health and Wealth,

Prosperity Now Community

Field Discussion

• What questions do you have for our speakers?

• How are you seeing the health wealth connection manifest in this crisis?

You!Health and Wealth,

Prosperity Now Community

Field Discussion

• How have you shifted your operations to meet current needs?

• What resources would be helpful?

Making Connections

Prosperity Now Resources-COVID

Partners’ Resources

▪CFPB: Protecting your finances during the Coronavirus Pandemic

▪Financial Health Clinic: SHARE on Change Machine

▪Aspen Institute: COVID-19 Resources

▪NCRC: COVID-19 Resources

▪Financial Health Network: Financial Health Solutions- Role of Financial Service Providers

▪CBA Training Institute: Guidance for Credit and Financial Coaches/Counselors

▪Asset Funder Network: Supporting your Employees and Grantees

Other COVID-19 Resources

Webinars:

▪Aspen Institute: Conversations in Financial Security in Response to COVID-19: How to Triage, Recover, and Stabilize; Live Q&A: COVID-19 and Unemployment Insurance

▪Financial Health Clinic: Responding to COVID webinar series

Other Resources (continued)

▪National Suicide Prevention Lifeline: 1-800-273-8255

▪SAMHSA’s National Helpline (mental health, substance use disorders) – 1-800-662-HELP (4357) https://www.samhsa.gov/find-help/national-helpline

▪Crisis Text Linehttp://www.crisistextline.org/ – Text NAMI to 741-741

▪National Domestic Violence Hotline http://www.thehotline.org/– Call 800-799-SAFE (7233)

▪National Sexual Assault Hotlinehttps://www.rainn.org/about-national-sexual-assault-telephone-hotline – Call 800-656-HOPE (4673) Crisis chat support is available at https://hotline.rainn.org/online/terms-of-service.jsp

▪General Support: https://www.tenpercent.com/coronavirussanityguide

▪Self-care podcast series for physicians: https://www.medpep.org/

Mental Health Resources

Next Steps

Network COVID-19 Engagement Series

• Date: Wednesday, April 29, at 2pm ET/11am PT

• Registration link: Here

Health and Wealth Network

• Date: Tuesday, May 5th at 2pm ET/11am PT

• Registration link: Here

Financial Coaching Network

Past webinars: https://prosperitynow.org/events/network-covid-19-

engagement-series

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