THE ABC’S OF ASSET BUILDING IN TRIBAL COMMUNITIES

PRESENTED BY:

N. IRIS FRIDAY, NATIVE AMERICAN PROGRAM SPECIALIST

NW OFFICE NATIVE AMERICAN PROGRAMS

PRESENTATION OBJECTIVES• Why Asset Building Matters

• Options for Asset Building

• Asset Inventory

• Coalition Building

WHY ASSET BUILDING?

• Proactive vs. Reactive

• Acquisition vs. Consumption

• Security vs. Instability

• Provides Options

WHAT IS ASSET BUILDING?

“Asset-building is the process by which individuals, families, and communities identify, acquire,

control, leverage, and preserve meaningful assets for the benefit of themselves and others.“

Assets bring a sense of security, prosperity, and hope to individuals, families, and communities who own

and control them.   

  

WHAT ARE ASSETS?Assets in Native communities include:

People

• Family, Friends, and Community

Financial capital

• Money, Savings, and Investments,

Education

• College, Specialized Training and Acquired Life Skills

Land & Natural Resources

• Water, timber, and minerals

Meaningful Occupations

Thriving businesses

Livable Homes

WHY ASSETS MATTER

• Assets are essential to economic security & prosperity

• Assets provide a foundation for families to fall back on in tough times

• Assets help move families move up the economic ladder

• Assets provide families with control over resources, financial security, and the ability to meet unanticipated costs.

ASSET POVERTY RATES IN WASHINGTON

African American Latinos Native Americans White0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

50.80%

42.50% 42.00%

20.70%

43%

39%

34%

16%

Asset Poverty Rates in Washing-tonAsset Poverty Nationwide

SUSTAINING FAMILIESIn order to survive an economic downturn:

Families ideally would have enough savings to survive at 75% of current living expenses for 9 months

Educational attainment of a BA degree or higherIncome that makes it possible to afford quality housing and

other needsHealth care coverage

Where do you rank? Family & Friends? Co-workers?

What do we need to do reach this level of financial security?

SELF-SUFFICIENT FAMILIES

• Options

• Financial Skills

• Budgeting & Savings

• Short and Long Term Goals

• Wealth Building thru Assets

STARTING AN ASSET BUILDING COALITION

WHY ORGANIZE?

• Is it better collaboration among departments?

• Is it to better leverage resources?

• Is it to provide a more cohesive service to families?

• Is it to strengthen partnerships?

• Is it to build tribal capacity/individual capacity?

TRIBAL ASSET INVENTORY

• Which departments offer services to support families?

• Education – scholarships/training• Energy – Low Income Heating Assistance• TANF – Funds for families• Headstart – Prepare youth for grade school• WIA – Workforce Development• Housing – Affordable housing • Health• Youth• Elders• Human Resources

PARTNER INVENTORY

• HUD Approved Counseling Agency

• County Asset Building Coalitions

• Headstart

• Dept. of Labor

• Internal Revenue Service

• HUD’s Office of Native American Programs

• Community Action Agencies

• Tribal Colleges

WHAT WOULD COLLABORATION LOOK LIKE?

LIHEAP

HOUSING

HEALTH

TANF

WIA

HEADSTART

YouthEldersFamily

OUTCOMES

• Discussions about what each dept. brings to the table

• Eliminate duplication of services

• Leverage resources

COLLABORATION GOALS

• Develop and strengthen the capacity of coalition through partnerships, training, and clear policy development

• Engage tribal leadership in Asset Building

• Coordinate Free Tax Preparation Sites in tribal communities; Disperse Tax Season Materials & educate on refund anticipation loans

• Develop a long term strategy for sustainability

ONGOING GOALS

• Work with existing resources and networks to get the word out

• Capitalize on local talents and infrastructure

• Organize workshops on consumer credit counseling, college scholarships, and small business development for Native families

• Share your successes!

CLOSING COMMENTS• Get started by taking

baby steps

• Everyone has some resource or expertise that they bring to the table – tap into it

• Identify your champions and supporters

• Plant the seeds

• Just do it!